The Qatar Stock Exchange on Sunday opened the week with minor gains despite five of the seven sectors reeling under selling pressure.
Banks and insurance counters witnessed higher-than-average demand as the 20-stock Qatar Index rose 0.03% to 9,768.91 points.
The market witnessed substantially weakened net selling by local retail investors and domestic funds; even as Gulf institutions were increasingly net sellers.
The Islamic equities were seen declining faster than the other indices in the market, which is up about 15% year-to-date.
Trade turnover and volumes were on the decline on the bourse, where industrials, banking and real estate sectors together accounted for about three-fourth of the total volume.
The Total Return Index rose 0.03% to 17,211.73 points; while Al Rayan Islamic Index (Price) shrank 0.4% to 2,330.94 points and All Share Index gained 0.04% to 2,878.1 points.
The banks and financial services index gained 0.47% and insurance (01.8%); whereas realty declined 0.94%, industrials (0.52%), transport (0.45%), consumer goods (0.05%) and telecom (0.02%).
Major gainers included Doha bank, Alijarah Holding, QNB, Qatar Islamic Bank, Medicare Group and Al Khaleej Takaful; while Gulf Warehouding, Dlala, Mannai Corporation, Qatar National Cement, Aamal Company, Gulf International Services, United Development Company and Ezdan were among the losers.
Domestic institutions’ net profit booking declined considerably to QR19.19mn compared to QR111.04mn on September 20.
Local individual investors’ net selling weakened significantly to QR9.22mn against QR54.34mn the previous trading day.
The Gulf individual investors’ net buying increased marginally to QR0.79mn compared to QR0.75mn last Thursday.
However, the Gulf institutions’ net profit booking expanded substantially to QR12.29mn against QR2.59mn on September 20.
Non-Qatari individuals turned net sellers to the tune of QR0.14mn compared with net buyers of QR6.25mn the previous day.
Non-Qatari institutions’ net buying shrank influentially to QR40.03mn against QR160.96mn last Thursday.
Total trade volume fell 61% to 5.55mn shares, value by 67% to QR180.15mn and transactions by 53% to 2,529.
The real estate sector’s trade volume plummeted 81% to 1.07mn equities, value by 86% to QR24.56mn and deals by 66% to 455.
The transport sector reported 78% plunge in trade volume to 0.13mn stocks, 79% in value to QR3.18mn and 66% in transactions to 104.
The consumer goods sector’s trade volume tanked 71% to 0.17mn shares, value by 44% to QR14.6mn and deals by 28% to 210.
There was 53% shrinkage in the insurance sector’s trade volume to 0.42mn equities, 52% in value to QR16.81mn and 53% in transactions to 124.
The telecom sector’s trade volume contracted 53% to 0.67mn stocks, value by 44% to QR11.87mn and deals by 46% to 206.
The banks and financial services sector saw 50% slippage in trade volume to 1.5mn shares, 61% in value to QR72.88mn and 52% in transactions to 819.
The industrials sector’s trade volume shrank 22% to 1.58mn equities, value by 53% to QR36.26mn and deals by 42% to 611.
In the debt market, there was no trading of treasury bills and sovereign bonds.
