The Qatar Stock Exchange opened weak on Sunday, mainly on domestic and Gulf institutions’ profit booking, but it remained above 10,000 levels.
An across-the-board selling, particularly in real estate and banking, led the 20-stock Qatar Index to knock off 0.49% to 10,061.5 points, after remaining bullish for the previous four sessions.
Kamco analysts said a close above 10,000 points would enhance further advance towards 10,225 points although the weekly relative strength index indicator is currently looking "negative".
Selling was skewed towards large-cap stocks in the bourse, which, however, saw bullish outlook from local and Gulf retail investors.
Islamic stocks were seen declining slower than the main index as well as other indices in the market, which also saw reduced net selling by Gulf institutions and non-Qatari individuals.
Trade turnover and volumes were on the decline in the market, where telecom, banking and realty sectors together accounted for more than 88% of the total volumes.
Market capitalisation shed about QR3bn, or 0.53%, to QR537.67bn as large, small and microcap scrips fell 0.54%, 0.22% and 0.1% respectively; while midcaps were up 0.08%.
The Total Return Index shrank 0.49% to 16,872.55 points, the All Share Index by 0.47% to 2,851.28 points and the Al Rayan Islamic Index by 0.22% to 4,025.57 points.
The realty sector’s index fell 0.81%, followed by banks and financial services (0.58%), transport (0.46%), consumer goods (0.43%), telecom (0.38%), insurance (0.36%) and industrials (0.06%).
About 59% of the stocks were in the red with major losers being QNB, Ezdan, Mazaya Qatar, Doha Bank, Ooredoo, QIIB, Masraf Al Rayan, Industries Qatar, Gulf International Services, Qatar Industrial Manufacturing, Qatar Insurance, Al Khaleej Takaful, Nakilat and Medicare Group.
Vodafone Qatar, Commercial Bank, al khaliji, Qatari Investors Group, Aamal Company, Doha Insurance, Qatar Islamic Insurance and Alijarah Holding were among the gainers.
Domestic institutions turned net sellers to the tune of QR2.35mn compared with net buyers of QR14.07mn on May 11.
Non-Qatari institutions were also net sellers to the extent of QR1.75mn against net buyers of QR48.15mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR3.25mn compared with net sellers of QR53.78mn last Thursday.
The GCC (Gulf Cooperation Council) retail investors were also net buyers to the extent of QR1.83mn against net sellers of QR2mn on May 11.
The GCC funds’ net selling weakened substantially to QR0.84mn compared to QR5.79mn the previous trading day.
Non-Qatari retail investors’ net profit booking also declined marginally to QR0.14mn against QR0.69mn last Thursday.
Total trade volumes fell 22% to 9.3mn shares, value by 37% to QR205.88mn and deals by 31% to 2,444.
There was an 82% plunge in the transport sector’s trade volume to 0.17mn equities, 87% in value to QR6.31mn and 66% in transactions to 130.
The insurance sector’s trade volume plummeted 76% to 0.14mn stocks, value by 87% to QR5.41mn and deals by 20% to 143.
The industrials sector reported a 57% shrinkage in trade volume to 0.39mn shares, 63% in value to QR22.45mn and 27% in transactions to 420.
The real estate sector’s trade volume tanked 44% to 1.4mn equities, value by 40% to QR25.83mn and deals by 52% to 261.
The market witnessed a 25% slump in the telecom sector’s trade volume to 4.09mn stocks, 31% in value to QR39.55mn and 49% in transactions to 265.
However, the banks and financial services sector’s trade volume more than doubled to 2.72mn shares and value soared 75% to QR87.47mn on a 2% jump in deals to 978.
The consumer goods sector saw 27% surge in trade volume to 0.38mn equities but on 32% decline in value to QR18.86mn and 33% in transactions to 247.
In the debt market, there was no trading of treasury bills and government bonds.
Kamco analysts said a close above 10,000 points would enhance further advance towards 10,225 points although the weekly relative strength index indicator is currently looking "negative".
Selling was skewed towards large-cap stocks in the bourse, which, however, saw bullish outlook from local and Gulf retail investors.
Islamic stocks were seen declining slower than the main index as well as other indices in the market, which also saw reduced net selling by Gulf institutions and non-Qatari individuals.
Trade turnover and volumes were on the decline in the market, where telecom, banking and realty sectors together accounted for more than 88% of the total volumes.
Market capitalisation shed about QR3bn, or 0.53%, to QR537.67bn as large, small and microcap scrips fell 0.54%, 0.22% and 0.1% respectively; while midcaps were up 0.08%.
The Total Return Index shrank 0.49% to 16,872.55 points, the All Share Index by 0.47% to 2,851.28 points and the Al Rayan Islamic Index by 0.22% to 4,025.57 points.
The realty sector’s index fell 0.81%, followed by banks and financial services (0.58%), transport (0.46%), consumer goods (0.43%), telecom (0.38%), insurance (0.36%) and industrials (0.06%).
About 59% of the stocks were in the red with major losers being QNB, Ezdan, Mazaya Qatar, Doha Bank, Ooredoo, QIIB, Masraf Al Rayan, Industries Qatar, Gulf International Services, Qatar Industrial Manufacturing, Qatar Insurance, Al Khaleej Takaful, Nakilat and Medicare Group.
Vodafone Qatar, Commercial Bank, al khaliji, Qatari Investors Group, Aamal Company, Doha Insurance, Qatar Islamic Insurance and Alijarah Holding were among the gainers.
Domestic institutions turned net sellers to the tune of QR2.35mn compared with net buyers of QR14.07mn on May 11.
Non-Qatari institutions were also net sellers to the extent of QR1.75mn against net buyers of QR48.15mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR3.25mn compared with net sellers of QR53.78mn last Thursday.
The GCC (Gulf Cooperation Council) retail investors were also net buyers to the extent of QR1.83mn against net sellers of QR2mn on May 11.
The GCC funds’ net selling weakened substantially to QR0.84mn compared to QR5.79mn the previous trading day.
Non-Qatari retail investors’ net profit booking also declined marginally to QR0.14mn against QR0.69mn last Thursday.
Total trade volumes fell 22% to 9.3mn shares, value by 37% to QR205.88mn and deals by 31% to 2,444.
There was an 82% plunge in the transport sector’s trade volume to 0.17mn equities, 87% in value to QR6.31mn and 66% in transactions to 130.
The insurance sector’s trade volume plummeted 76% to 0.14mn stocks, value by 87% to QR5.41mn and deals by 20% to 143.
The industrials sector reported a 57% shrinkage in trade volume to 0.39mn shares, 63% in value to QR22.45mn and 27% in transactions to 420.
The real estate sector’s trade volume tanked 44% to 1.4mn equities, value by 40% to QR25.83mn and deals by 52% to 261.
The market witnessed a 25% slump in the telecom sector’s trade volume to 4.09mn stocks, 31% in value to QR39.55mn and 49% in transactions to 265.
However, the banks and financial services sector’s trade volume more than doubled to 2.72mn shares and value soared 75% to QR87.47mn on a 2% jump in deals to 978.
The consumer goods sector saw 27% surge in trade volume to 0.38mn equities but on 32% decline in value to QR18.86mn and 33% in transactions to 247.
In the debt market, there was no trading of treasury bills and government bonds.
