An across-the-board selling — particularly within insurance, real estate and telecom — on Sunday dragged the Qatar Stock Exchange below 9,400 levels.
The bearish outlook of Gulf institutions and non-Qatari individuals as well as the substantially weakened net buying interests of domestic funds led the 20-stock Qatar Index 0.62% decline for the fourth straight session to 9,362.42 points.
Masraf Al Rayan sponsored exchange traded fund QATR witnessed 0.42% decline.
The Islamic stocks were seen declining faster than the other indices on the market, which nevertheless reported 9.84% year-to-date gains.
However, local retail investors’ net selling weakened significantly on the bourse, whose capitalisation shrank 0.65% to QR509.1bn, mainly owing to micro and midcaps.
Trade turnover and volumes were on the decline in the market, where telecom and banking estate sectors together accounted for about 63% of the total volume.
The Total Return Index shed 0.62% to 16,495.55 points, All Share Index by 0.68% to 2,693.56 points and Al Rayan Islamic Index (Price) by 0.78% to 2,301.35 points.
The insurance index declined 1.5%, realty (1.11%), telecom (0.97%), industrials (0.61%), banks and financial services (0.57%), consumer goods (0.48%) and transport (0.11%).
About 71% of the traded stocks were in the red with major shakers being Doha bank, Qatar Insurance, Gulf Warehousing, Mazaya Qatar, Ezdan, Barwa, Ahlibank, Islamic Holding Group, Zad Holding, Qatari Investors Group, Ooredoo and Vodafone Qatar; whereas Qatari German Company for Medical Devices, Nakilat, Widam Food and Aamal Company were among the gainers.
The Gulf institutions turned net sellers to the tune of QR3.31mn compared with net buyers of QR5.68mn last Thursday.
Non-Qatari individuals were also net sellers to the extent of QR1.9mn against net buyers of QR2.5mn on July 19.
Domestic institutions’ net buying weakened significantly to QR4.69mn compared to QR36.67mn the previous trading day.
However, non-Qatari institutions turned net buyers to the tune of QR0.84mn against net sellers of QR10.2mn last Thursday.
The Gulf individual investors were also net buyers to the extent of QR0.08mn compared with net sellers of QR0.22mn on July 19.
Local individual investors’ net profit booking fell substantially to QR0.4mn against QR34.44mn the previous trading day.
Total trade volume fell 29% to 4.08mn shares, value by 45% to QR84.75mn and transactions by 43% at 1,578.
The real estate sector’s trade volume plummeted 73% to 0.31mn equities, value by 82% to QR3.48mn and deals by 73% to 136.
The insurance sector reported 64% plunge in trade volume to 0.05mn stocks, 64% in value to QR1.85mn and 20% in transactions to 56.
The industrials sector’s trade volume tanked 50% to 0.27mn shares, value by 67% to QR8.25mn and deals by 43% to 317.
The banks and financial services sector saw 39% shrinkage in trade volume to 1.24mn equities, 51% in value to QR33.59mn and 32% in transactions to 585.
The consumer goods sector’s trade volume shrank 33% to 0.12mn stocks, value by 18% to QR10.72mn and deals by 40% to 148.
However, there was 83% surge in the transport sector’s trade volume to 0.77mn shares and 73% in value to QR13.45mn but on 16% decline in transactions to 191.
The telecom sector’s trade volume was up 2% to 1.32mn equities, whereas value slumped 24% to QR13.41mn and deals by 51% to 145.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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