Qatar Stock Exchange on Tuesday remained under bearish spell for the second day, mainly on strong selling in the real estate, telecom and banking scrips.
Foreign institutions were seen net profit takers as the 20-stock Qatar Index shrank 1.07% to 9,014.32 points.Last updated: May 01 2018 08:23 PM
Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF witnessed 0.55% and 0.57% declines respectively.
Nevertheless, local and non-Qatari retail investors turned bullish and there was weakened net selling by domestic funds in the market, which is up 5.76% year-to-date.
Selling was seen more pronounced within large and midcap segments in the bourse, whose capitalisation shed 1.64% to QR501.06bn.
Trade turnover and volumes were on the decline in the market, where industrials and telecom sectors together accounted for more than 64% of the total volume.
The Total Return Index shrank 1.07% to 15,882.23 points, All Share Index by 1.69% to 2,666.66 points and Al Rayan Islamic Index (Price) by 1.41% to 2,256.49 points.
The realty index plummeted 4.79%, telecom (1.94%), industrials (1.38%), consumer goods (1.28%), banks and financial services (1.21%) and transport (0.37%); while insurance gained 0.48%.
About 81% of the traded stocks were in the red with major losers being Ezdan, Mesaieed Petrochemical Holding, Aamal Company, Ahli Bank, QIIB, Mazaya Qatar, Barwa, Alijarah Holding and Gulf Warehousing.
Non-Qatari institutions turned net sellers to the tune of QR1.26mn against net buyers of QR13.96mn on April 30.
The Gulf individuals’ net buying weakened marginally to QR0.24mn compared to QR0.36mn the previous day.
However, local individuals turned net buyers to the extent of QR1.86mn against net sellers of QR4.19mn on Monday.
The Gulf institutions were also net buyers to the tune of QR0.73mn compared with net buyers of QR0.04mn on April 30.
Non-Qatari individuals turned net buyers to the extent of QR0.55mn against net sellers of QR2.78mn the previous day.
Domestic institutions’ net profit booking declined perceptibly to QR2.13mn compared to QR7.36mn on Monday.
Total trade volume fell 37% to 10.69mn shares, value by 45% to QR221.37mn and transactions by 33% to 3,073.
The insurance sector saw 87% plunge in trade volume to 0.02mn equities, 82% in value to QR0.83mn and 80% in deals to 27.
The transport sector’s trade volume plummeted 73% to 0.8mn stocks, value by 69% to QR14.56mn and transactions by 43% to 357.
There was 40% shrinkage in the consumer goods sector’s trade volume to 0.3mn shares, 45% in value to QR28.67mn and 52% in deals to 300.
The industrials sector’s trade volume tanked 39% to 4.74mn equities, value by 48% to QR88.12mn and transactions by 26% to 854.
The real estate sector reported 35% slump in trade volume to 1.8mn stocks, 42% in value to QR13.24mn and 43% in deals to 337.
The banks and financial services sector’s trade volume declined 19% to 1.5mn shares, value by 30% to QR49.47mn and transactions by 30% to 765.
However, the market witnessed 22% increase in the telecom sector’s trade volume to 2.15mn equities but on 23% fall in value to QR26.49mn despite 20% higher deals at 433.
In the debt market, there was no trading of treasury bills and sovereign bonds.