Gainers outnumbered losers in the Qatar Stock Exchange; yet its main index lost 31 points on Thursday, mainly on selling pressure from domestic and Gulf institutions as well as non-Qatari individual investors.
Transport, banking, industrials and consumer goods counters witnessed higher than average profit booking, which led the 20-stock Qatar Index decline 0.29% to 10,721.15 points.
Selling was rather seen skewed within mid and large equities in the market, whose year-to-date gains were contained at 2.72%.
Islamic stocks were however seen falling slower than the main index well as the other indices in the bourse, where foreign institutions turned bullish and there was weakened net selling by local retail investors.
Trade turnover and volumes were on the increase in the market, where banking, realty and telecom sectors together accounted for more than 77% of the total volumes.
Market capitalisation eroded more than QR2bn or 0.38% to QR577.21bn as mid, large and small cap equities fell 0.62%, 0.45% and 0.32% respectively; whereas microcaps gained 0.74%.
The Total Return Index shed 0.29% to 17,550.29 points, All Share Index by 0.31% to 2,977.16 points and Al Rayan Islamic Index by 0.14% to 4,123.44 points.
The transport sector saw its index decline 0.88%, banks and financial services (0.77%), industrials (0.35%) and consumer goods (0.32%); whereas real estate gained 0.58%, telecom (0.41%) and insurance (0.37%).
Major losers included QNB, Milaha, Aamal Company, Mazaya Qatar, Doha Bank, Masraf Al Rayan, al khaliji, Woqod, Al Meera, Qatari Investors Group and Gulf Warehousing.
Nevertheless, about 53% of the stocks gained with major movers being Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Ooredoo, Vodafone Qatar, Qatar Insurance, Commercial Bank, Qatar First Bank, Alijarah Holding, Industries Qatar, Mesaieed Petrochemical Holding, Ezdan, United Development Company, Islamic Holding Group and Medicare Group.
Domestic institutions turned net sellers to the tune of QR31.19mn compared with net buyers of QR34.2mn on March 1.
Non-Qatari individual investors were also net sellers to the extent of QR5.57mn against net buyers of QR32.79mn the previous day.
The GCC (Gulf Cooperation Council) institutions’ net profit booking strengthened to QR26.24mn compared to QR8.61mn on Wednesday.
However, non-Qatari institutions turned net buyers to the tune of QR83.45mn against net sellers of QR7.64mn on March 1.
The GCC retail investors were also net buyers to the extent of QR0.54mn compared with net sellers of QR4.12mn the previous day.
Local retail investors’ net profit booking fell considerably to QR20.99mn against QR46.62mn on Wednesday.
Total trade volume rose 52% to 14.06mn shares, value by 30% to QR449.39mn and deals by 20% to 5,590.
The consumer goods sector’s trade volume more than doubled to 0.88mm equities and value also more than doubled to QR72.74mn on 51% jump in transactions to 587.
The transport sector’s trade volume more than doubled to 0.69 stocks and value also more than doubled to QR23.51mn on almost doubled deals to 640.
The telecom sector’s trade volume more than doubled to 2.01mn shares, value soared 50% to QR22.73mn and transactions by 33% to 240.
The real estate sector witnessed 66% surge in trade volume to 4.29mn equities, 38% in value to QR94.91mn and 6% in deals to 971.
The banks and financial services sector’s trade volume expanded 62% to 4.57mn stocks, value by 38% to QR143.65mn and transactions by 42% to 2,159.
There was 5% increase in the industrials sector’s trade volume to 1.15mn shares but on 11% decline in value to QR61.6mn and 29% in deals to 862.
However, the insurance sector’s trade volume tanked 59% to 0.46mn equities and value by 38% to QR30.24mn, whereas transactions gained 18% to 131.
In the debt market, there was no trading of treasury bills and government bonds.
