Qatar share index stays below 10,400 level

Qatar Stock Exchange on Sunday opened the week with a marginal seven-point gain, despite profit booking pressure from foreign institutions, but remained below 10,400 levels.
Telecom, insurance and industrials received some buying support, leading the 20-stock Qatar Index rise 0.07% to 10,397.85 points, although it crossed the 10,400 mark in the initial few minutes of trading.
Local retail investors’ net selling weakened and there was marginally higher net buying support from Gulf individuals in the market, whose year-to-date losses were at 0.37%.
Small cap equities saw some gains in the bourse, which however saw non-Qatari individual investors turn net sellers.
Islamic stocks however saw declines vis-à-vis gains in the other indices in the market which however saw lower buying interests of domestic and Gulf institutions.
Trade turnover and volumes declined in the bourse, where real estate, telecom and banking sectors together accounted for more than 87% of the total volumes.
Market capitalisation was up QR52mn or 0.09% to QR556.87bn mainly on 0.26% rise in small cap equities; even as large, micro and midcaps fell 0.44%, 0.25% and 0.12% respectively.
The Total Return Index rose 0.07% to 17,232.93 points and All Share Index by 0.04% to 2,925.69 points, while Al Rayan Islamic Index fell 0.12% to 4,114.27 points.
The telecom sector saw its index gain 1.83%, insurance (0.29%) and industrials (0.17%); whereas consumer goods declined 0.36%, realty (0.26%), transport (0.14%) and banks and financial services (0.06%).
About 53% of the stocks were gains with major movers being Ooredoo, Qatar Islamic Insurance, QIIB, Dlala, Industries Qatar, Gulf International Services, Qatari Investors Group, Qatar Insurance, United Development Company, Vodafone Qatar, Nakilat, Medicare Group and Islamic Holding Group.
Nevertheless, Barwa, Mazaya Qatar, Milaha, Mesaieed Petrochemical Holding, Doha Insurance, Qatar Islamic Bank and Zad Holding were among the losers.
Local retail investors’ net profit booking weakened considerably to QR13.42mn compared to QR33.43mn on March 30.
The GCC (Gulf Cooperation Council) retail investors’ net buying strengthened to QR0.88mn against QR0.8mn last Thursday.
However, domestic institutions’ net buying weakened to QR11.08mn compared to QR18.2mn the previous trading day.
The GCC institutions’ net buying also declined perceptibly to QR5.02mn against QR12.85mn on March 30.
Non-Qatari individual investors turned net sellers to the tune of QR1.52mn compared with net buyers of QR1.54mn last Thursday.
Non-Qatari institutions were also net profit takers to the extent of QR2.06mn.
Total trade volumes fell 47% to 5.49mn shares, value by 40% to QR200.03mn and deals by 51% to 2,131.
There was 74% plunge in the transport sector’s trade volume to 0.21mn equities, 74% in value to QR6.68mn and 47% in transactions to 224.
The insurance sector’s trade volume plummeted 64% to 0.09mn stocks, value by 60% to QR3.34mn and deals by 76% to 31.
The banks and financial services sector saw 62% shrinkage in trade volume to 1.29mn shares, 48% in value to QR85.32mn and 65% in transactions to 663.
The industrials sector’s trade volume tanked 54% to 0.26mn equities, value by 38% to QR21.2mn and deals by 37% to 372.
The consumer goods sector reported 38% decline in trade volume to 0.13mm stocks, 27% in value to QR8.92mn and 7% in transactions to 213.
The real estate sector’s trade volume shrank 37% to 1.96mn shares, value by 34% to QR40.81mn and deals by 48% to 364.
The market witnessed 24% slump in the telecom sector’s trade volume to 1.55mn equities but on 17% increase in value to QR33.75mn despite 30% lower transactions to 264.
In the debt market, there was no trading of treasury bills and government bonds.