The Qatar Stock Exchange was back in the negative trajectory mainly on heightened profit-booking by domestic institutions.
Strong selling, especially in real estate, industrials and telecom stocks, led the 20-stock Qatar Index decline 0.66% to 8,891.16 points.
Masraf Al Rayan sponsored exchange traded funds QATR fell 0.23%; while Doha Bank sponsored QETF reported a marginal 0.09% gains.
However, foreign funds were increasingly net buyers and local retail investors turned bullish in the market, which is up 4.31% year-to-date.
Selling was more pronounced within micro and large cap segments in the bourse, whose capitalisation fell 0.84% to QR491.96bn.
Trade turnover expanded amidst lower volumes in the market, where banking sector alone accounted for more than 48% of the total volume.
The Total Return Index shrank 0.66% to 15,665.24 points, the All Share Index by 0.9% to 2,602.86 points and the Al Rayan Islamic Index (Price) by 1% to 2,182.94 points.
The realty index declined 2.82%, industrials (1.39%), telecom (1.18%), consumer goods (0.82%), insurance (0.29%) and banks and financial services (0.27%); whereas transport rose 0.1%.
More than 63% of the stocks were in the red with major shakers being Ezdan, Mazaya Qatar, Industries Qatar, Ooredoo, Vodafone Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Medicare Group, Widam Food, Masraf Al Rayan and Qatar Insurance; while Al Khaleej Takaful, Islamic Holding Group, Qatar Islamic Bank, Commercial Bank, Gulf International Services, Aamal, Barwa and Milaha were among the gainers.
The domestic institutions’ net profit-booking strengthened considerably to QR100.64mn compared to QR14.84mn on Wednesday.
However, non-Qatari funds’ net buying increased perceptibly to QR120.31mn against QR111.54mn the previous day.
Local individual investors turned net buyers to the tune of QR5.37mn compared with net sellers of QR61.52mn on May 16.
Non-Qatari individuals were net buyers to the extent of QR3.4mn against net sellers of QR1.13mn on Wednesday.
Gulf individuals were also net buyers to the tune of QR1.11mn compared with net sellers of QR0.57mn the previous day.
Gulf institutions’ net profit-booking declined influentially to QR29.59mn against QR33.51mn on May 16.
Total trade volume fell 24% to 6.31mn shares, while value grew 37% to QR409.78mn despite 6% lower transactions at 3,812.
The telecom sector saw a 92% plunge in trade volume to 0.27mn equities, 73% in value to QR10.41mn and 21% in deals to 391.
The consumer goods sector’s trade volume plummeted 26% to 0.17mn stocks and value by 29% to QR8.22mn; whereas transactions increased 55% to 262.
The transport sector reported a 21% shrinkage in trade volume to 0.73mn shares, 28% in value to QR11.02mn and 34% in deals to 330.
The industrials sector’s trade volume tanked 18% to 0.87mn equities, value by 24% to QR39.95mn and transactions by 12% to 705.
However, the insurance sector’s trade volume more than doubled to 0.33mn stocks and value also more than doubled to QR11.6mn on a 75% expansion in deals to 200.
The real estate sector’s trade volume soared 57% to 0.88mn shares to more than double value to QR13.08mn on an 85% jump in transactions to 521.
There was a 46% increase in the banks and financial services sector’s trade volume to 3.06mn equities and 87% in value to QR315.5mn but on a 16% slump in deals to 1,403.
In the debt market, there was no trading of treasury bills, while as many as 64,000 sovereign bonds valued at QR633.6mn changed hands across one transaction.
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