Domestic institutions were increasingly net buyers and their foreign counterparts as well as local retail investors turned bullish yesterday despite the Qatar Stock Exchange losing 721 points in index and QR39bn in capitalisation.
An across the board selling – particularly in realty, transport, consumer goods and industrials – led the 20-stock Qatar Index decline 7.27% to 9,202.62 points, steepest drop since 2009, on a day when Saudi Arabia, the UAE and Bahrain severed diplomatic ties with Qatar.
The QSE stocks tumbled immediately upon opening on Qatar’s neighbours’ moves from which they could not rebound, although there were some buying interests in the last few minutes.
Gulf institutions and non-Qatari individual investors were increasingly net sellers in the bourse, whose year-to-date losses widened to 11.82%.
Islamic stocks were seen declining faster than the main index and other indices in the market, which also saw increased net selling by Gulf individual investors.
Trade turnover and volumes were on the increase in the market, where banking and real estate sectors together accounted for more than 57% of the total volumes.
Market capitalisation eroded 7.36% to QR493.32bn as micro, small, mid and large cap scrips melted 9.41%, 9.03%, 8.35% and 6.98% respectively.
The Total Return Index plunged 7.27% to 15,432.26 points, the All Share Index by 7.65% to 2,589.81 points and the Al Rayan Islamic Index by 8.7% to 3,655.04 points.
The realty index tumbled 9.91%, followed by transport (9.54%), consumer goods (9.35%), industrials (8.11%), banks and financial services (6.75%), telecom (6.36%) and insurance (4.99%).
All of the 44 stocks were in the red with as many as 13 touching the lower 10% circuit-filter and another 15 coming close to the lower limit. Among the major losers were QNB, Industries Qatar, Ooredoo, Vodafone Qatar, Gulf International Services, Aamal Company, Ezdan, Barwa, Mazaya Qatar, Gulf Warehousing, Nakilat, Milaha and Mesaieed Petrochemical Holding.
The GCC (Gulf Cooperation Council) institutions’ net selling increased substantially to QR162.36mn against QR5.02mn on June 4.
Non-Qatari retail investors’ net selling rose considerably to QR98.51mn compared to QR3.34mn the previous day.
The GCC individuals’ net profit-booking gained influentially to QR39.66mn against QR1.29mn on Sunday.
However, domestic institutions’ net buying strengthened significantly to QR229.53mn compared to QR34.25mn on June 4.
Non-Qatari institutions turned net buyers to the extent of QR58.69mn against net sellers of QR6.28mn the previous day.
Local retail investors were also net buyers to the tune of QR12.45mn compared with net profit-takers of QR18.3mn on Sunday.
Total trade volumes rose 13% to 21.74mn shares to more than double value to QR793.14mn on more-than-doubled deals to 6,987.
The industrials sector’s trade volume grew almost 10-fold to 2.86mn equities and value by about 9-fold to QR146.29mn on more-than-quadrupled transactions to 1,202.
The insurance sector’s trade volume more than quadrupled to 0.51mn stocks and value more than tripled to QR26.64mn on more-than-tripled deals to 278.
The transport sector’s trade volume almost quadrupled to 2.14mn shares and value more than doubled to QR74.37mn on more-than-doubled transactions to 566.
The consumer goods sector’s trade volume almost tripled to 1.18mn equities and value also almost tripled to QR81.85mn on almost-doubled-deals to 732.
The telecom sector reported a 30% surge in trade volume to 2.55mn stocks and 70% in value to QR34.42mn on more-than-doubled transactions to 569.
The real estate sector’s trade volume was up 6% to 4.47mn shares, value by 23% to QR71.53mn and deals by 13% to 986.
However, the banks and financial services sector saw a 31% decline in trade volume to 8.04mn equities but value more than doubled to QR358.04mn and transactions also more than doubled to 2,654.
In the debt market, there was no trading of treasury bills and government bonds.




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