An across-the-board selling — particularly in real estate, telecom and industrials — on Sunday led the Qatar Stock Exchange sink below the 9,900 levels.
The bearish grip of Gulf institutions and local retail investors was squarely responsible for the 1.05% plunge in the 20-stock Qatar Index for the fourth consecutive day.
The market was largely on a downswing for the first 180 minutes to take the index to a low of about 9,800 levels but some last-minute buying pressure drove it up, which, however, was feeble. Thus, the market settled 105 points lower against the previous close.
Islamic stocks were seen declining faster than the main index as well as other indices on the bourse, which also saw weakened net buying support from foreign institutions and individuals.
Mid and microcap stocks suffered the most on the market, which however saw domestic institutions turn net buyers.
Trade turnover shrank amidst higher volumes in the market, where telecom and banking sectors together accounted for about 70% of the total volumes.
Market capitalisation shed about QR6bn or 1.05% to QR526.44bn as mid, micro, large and small cap scrips losing 1.22%, 1.2%, 0.89% and 0.8% respectively.
The Total Return Index shrank 1.05% to 16,490.34 points, All Share Index by 1.06% to 2,795.17 points and Al Rayan Islamic Index by 1.17% to 3,934.75 points.
The realty sector’s index lost 1.65%, telecom (1.17%), industrials (1.09%), consumer goods (1.02%), banks and financial services (0.99%), transport (0.82%) and insurance (0.03%).
More than 82% of the stocks were in the red with major losers being Gulf International Services, Commercial Bank, Mazaya Qatar, Barwa, QNB, Doha Bank, Qatar First Bank, Nakilat, Gulf Warehousing, Qatar National Cement, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Ezdan, Ooredoo and Vodafone Qatar; even as Dlala and Qatar Insurance bucked the trend.
The GCC (Gulf Cooperation Council) funds turned net sellers to the tune of QR8.31mn against net buyers of QR0.56mn on May 4.
Local retail investors were also net sellers to the extent of QR3.68mn compared with net buyers of QR10.14mn last Thursday.
Non-Qatari institutions’ net buying weakened considerably to QR0.28mn against QR9.17mn the previous trading day.
Non-Qatari retail investors’ net buying fell perceptibly to QR3.68mn against QR5.44mn on May 4.
However, domestic institutions turned net buyers to the tune of QR7.75mn compared with net sellers of QR25.43mn last Thursday.
The GCC individual investors’ net buying rose marginally to QR0.32mn against QR0.14mn the previous trading day.
Total trade volumes rose 10% to 9.1mn shares, while value fell 14% to QR198.73mn and deals by 26% to 2,386.
The insurance sector’s trade volume more than tripled to 0.22mn equities and value more than doubled to QR13.01mn but on 16% decline in transactions to 51.
The market witnessed 51% surge in the telecom sector’s trade volume to 3.32mn stocks and value by 8% to QR32.68mn but on 49% slump in deals to 179.
The banks and financial services sector’s trade volume soared 17% to 3.04mn shares, whereas value shrank 21% to QR68.11mn and transactions by 23% to 721.
There was 14% increase in the transport sector’s trade volume to 0.57mn equities to more than double value to QR30.88mn on 14% higher deals to 259.
However, the consumer goods sector’s trade volume plummeted 62% to 0.1mn stocks, value by 67% to QR6.56mn and transactions by 57% to 158.
The real estate sector saw 33% plunge in trade volume to 1.3mn shares, 35% in value to QR22.27mn and 23% in deals to 314.
The industrials sector’s trade volume tanked 19% to 0.55mn equities, value by 41% to QR25.2mn and transactions by 18% to 704.
In the debt market, there was no trading of treasury bills and government bonds.
The market was largely on a downswing for the first 180 minutes to take the index to a low of about 9,800 levels but some last-minute buying pressure drove it up, which, however, was feeble. Thus, the market settled 105 points lower against the previous close.
Islamic stocks were seen declining faster than the main index as well as other indices on the bourse, which also saw weakened net buying support from foreign institutions and individuals.
Mid and microcap stocks suffered the most on the market, which however saw domestic institutions turn net buyers.
Trade turnover shrank amidst higher volumes in the market, where telecom and banking sectors together accounted for about 70% of the total volumes.
Market capitalisation shed about QR6bn or 1.05% to QR526.44bn as mid, micro, large and small cap scrips losing 1.22%, 1.2%, 0.89% and 0.8% respectively.
The Total Return Index shrank 1.05% to 16,490.34 points, All Share Index by 1.06% to 2,795.17 points and Al Rayan Islamic Index by 1.17% to 3,934.75 points.
The realty sector’s index lost 1.65%, telecom (1.17%), industrials (1.09%), consumer goods (1.02%), banks and financial services (0.99%), transport (0.82%) and insurance (0.03%).
More than 82% of the stocks were in the red with major losers being Gulf International Services, Commercial Bank, Mazaya Qatar, Barwa, QNB, Doha Bank, Qatar First Bank, Nakilat, Gulf Warehousing, Qatar National Cement, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Ezdan, Ooredoo and Vodafone Qatar; even as Dlala and Qatar Insurance bucked the trend.
The GCC (Gulf Cooperation Council) funds turned net sellers to the tune of QR8.31mn against net buyers of QR0.56mn on May 4.
Local retail investors were also net sellers to the extent of QR3.68mn compared with net buyers of QR10.14mn last Thursday.
Non-Qatari institutions’ net buying weakened considerably to QR0.28mn against QR9.17mn the previous trading day.
Non-Qatari retail investors’ net buying fell perceptibly to QR3.68mn against QR5.44mn on May 4.
However, domestic institutions turned net buyers to the tune of QR7.75mn compared with net sellers of QR25.43mn last Thursday.
The GCC individual investors’ net buying rose marginally to QR0.32mn against QR0.14mn the previous trading day.
Total trade volumes rose 10% to 9.1mn shares, while value fell 14% to QR198.73mn and deals by 26% to 2,386.
The insurance sector’s trade volume more than tripled to 0.22mn equities and value more than doubled to QR13.01mn but on 16% decline in transactions to 51.
The market witnessed 51% surge in the telecom sector’s trade volume to 3.32mn stocks and value by 8% to QR32.68mn but on 49% slump in deals to 179.
The banks and financial services sector’s trade volume soared 17% to 3.04mn shares, whereas value shrank 21% to QR68.11mn and transactions by 23% to 721.
There was 14% increase in the transport sector’s trade volume to 0.57mn equities to more than double value to QR30.88mn on 14% higher deals to 259.
However, the consumer goods sector’s trade volume plummeted 62% to 0.1mn stocks, value by 67% to QR6.56mn and transactions by 57% to 158.
The real estate sector saw 33% plunge in trade volume to 1.3mn shares, 35% in value to QR22.27mn and 23% in deals to 314.
The industrials sector’s trade volume tanked 19% to 0.55mn equities, value by 41% to QR25.2mn and transactions by 18% to 704.
In the debt market, there was no trading of treasury bills and government bonds.