Local retail investors yesterday turned bullish and domestic institutions strengthened their net buying amidst weakening of the Qatar Stock Exchange.
There was also a weakened net profit booking by Gulf institutions, even as the 20-stock Qatar Index fell for the third day by 0.98% to 9,469.59 points.
Islamic stocks were seen falling faster than the main index and other indices in the market, whose year-to-date losses were at 9.27%.
However, foreign institutions and individuals turned bearish and there was increased net selling by Gulf retail investors on the bourse, whose capitalisation stood at QR513.29bn.
Opening strong near 9,600 points, the market was then on a weak wicket for the next 120 minutes to touch a low of less than 9,450 points, after which it made slow but consistent gains but overall it settled 93 points lower.
Trade turnover and volumes were on the decline on the bourse, where banking and telecom sectors together accounted for about 68% of the total volumes.
The Total Return Index fell 0.98% to 15,879.95 points, All Share Index by 0.82% to 2,694.31 points and Al Rayan Islamic Index by 1.16% to 3,755.31 points.
The industrials index shed 1.61%, telecom (0.86%), transport (0.83%), realty (0.77%), banks and financial services (0.62%), insurance (0.44%) and consumer goods (0.15%).
Major gainers included Vodafone Qatar, QNB, Mesaieed Petrochemical Holding, Qatar National Cement and Zad Holding; even as Industries Qatar, Ooredoo, Mazaya Qatar, Gulf Warehousing, Gulf International Services, Commercial Bank, Doha Bank, Qatar First Bank, Alijarah Holding, Medicare Group and Qatari Investors Group were among the losers.
Local retail investors turned net buyers to the tune of QR9.06mn compared with net sellers of QR14mn last Thursday.
Domestic institutions’ net buying strengthened influentially to QR11.3mn against QR6.93mn on July 27.
The GCC (Gulf Cooperation Council) funds’ net profit booking fell to QR3.28mn compared to QR5.15mn the previous day.
However, non-Qatari institutions turned net sellers to the extent of QR13.03mn against net buyers of QR9.64mn last Thursday.
Non-Qatari retail investors were also net sellers of QR3.84mn compared with net buyers of QR2.71mn on July 27.
The GCC individuals’ net profit booking increased perceptibly to QR0.23mn against QR0.14mn the previous day.
Total trade volumes fell 21% to 5.01mn shares, value by 9% to QR141.79mn and deals by 18% to 2,117.
There was 83% plunge in the insurance sector’s trade volume to 0.01mn equities, 82% in value to QR0.71mn and 58% in transactions to 22. The transport sector’s trade volume plummeted 67% to 0.06mn stocks, value by 82% to QR1.11mn and deals by 67% to 71.
The market witnessed 32% shrinkage in the real estate sector’s trade volume to 0.65mn shares, 29% in value to QR10.81mn and 22% in transactions to 314.
The banks and financial services sector’s trade volume tanked 29% to 1.71mn equities, value by 24% to QR53.99mn and deals by 4% to 979. The telecom sector reported 16% decline in trade volume to 1.7mn stocks, 3% in value to QR21.87mn and 23% in transactions to 148.
However, the consumer goods sector’s trade volume soared 59% to 0.27mn shares to more than double value to QR32.01mn but on 21% lower deals to 237.
The industrials sector saw 11% expansion in trade volume to 0.61mn equities but on 13% slump in value to QR21.29mn and 15% in transactions to 346.
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