Domestic institutions’ strong selling pressure on Monday extended the bearish run in the Qatar Stock Exchange (QSE) for the fourth consecutive day.
Strong profit booking – especially in insurance, transport and telecom – led the 20-stock Qatar Index decline 0.47% to 8,711.91 points.
The Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR saw 0.45% and 0.42% declines respectively.
The weakened buying interests of Gulf institutions also played their part in the market, which is however up 2.21% year-to-date.
Midcap equities witnessed severe selling in the bourse, whose capitalisation declined 0.57% to QR479.43bn.
The market witnessed a total of 0.2mn QATR valued at QR4.66mn across 102 transactions and a total of 0.02mn QETF valued at QR1.68mn across 34 deals.
Trade turnover and volumes were on the decline in the market, where banking, industrials and real estate sectors together accounted for more than 82% of the total volume.
The Total Return Index shed 0.47% to 15,303.03 points, All Share Index by 0.49% to 2,566.26 points and Al Rayan Islamic Index (Price) by 0.32% to 2,241.68 points.
The insurance index plummeted 3.02%, transport (1.37%), telecom (0.67%), industrials (0.35%), banks and financial services (0.34%) and consumer goods (0.26%), while realty index gained 0.16%.
About 60% of the stocks were in the red with major losers being Qatar Insurance, Milaha, United Development Company, Mazaya Qatar, Vodafone Qatar, Mesaieed Petrochemical Holding, Alijarah Holding and Islamic Holding Group; even as Al Khaleej Takaful, Ezdan, Medicare Group and Ahli Bank were among the gainers.
Domestic institutions turned net sellers to the tune of QR22.31mn against net buyers of QR0.99mn on March 25.
The Gulf institutions’ net buying declined influentially to QR2.36mn compared to QR12.89mn the previous day.
However, non-Qatari institutions turned net buyers to the extent of QR17.1mn against net sellers of QR8.89mn on Sunday.
Non-Qatari individuals’ net buying increased perceptibly to QR1.05mn compared to QR0.04mn on March 25.
The Gulf individuals turned net buyers to the tune of QR0.96mn against net profit takers of QR3.92mn the previous day.
Local retail investors turned net buyers to the extent of QR0.84mn compared with net sellers of QR1.13mn on Sunday.
Total trade volume fell 43% to 6.56mn shares, value by 22% to QR152.4mn and transactions by 6% to 3,023.
There was 70% plunge in the telecom sector’s trade volume to 0.41mn equities and 26% in value to QR10.4mn but on 11% rise in deals to 243.
The real estate sector’s trade volume plummeted 54% to 1.16mn stocks, value by 32% to QR18.78mn and transactions by 11% to 635.
The industrials sector reported 44% shrinkage in trade volume to 1.18mn shares, 42% in value to QR25.49mn and 20% in deals to 460.
The consumer goods sector’s trade volume tanked 44% to 0.32mn equities and value by 42% to QR16.26mn; whereas transactions gained 13% to 363.
The banks and financial services sector saw 32% decline in trade volume to 3.07mn stocks but on 2% increase in value to QR70.05mn despite 5% lower deals to 1,024.
The transport sector’s trade volume shrank 20% to 0.16mn shares, value by 15% to QR3.4mn and transactions by 8% to 138.
However, the market witnessed 9% growth in the insurance sector’s trade volume to 0.25mn equities but on 7% fall in value to QR8.02mn and 6% in deals to 140.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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