The Qatar Stock Exchange on Wednesday plunged more than 126 points to settle below 10,000 levels, mainly on the back of weakened buying interests of domestic institutions.
Five of the seven sectors reeled under selling pressure as the 20-stock Qatar Index settled 1.26% lower at near five-month low of 9,884.21 points.
The increased selling pressure from non-Qatari individuals also had its role in dampening the market, whose sensitive index registered 4.03% shrinkage year-to-date.
Market capitalisation eroded about 1% or about QR6bn to QR563.61bn mainly owing to mid and microcap segments.
Islamic equities were seen declining faster than the main index on the market, where local and Gulf retail investors turned bullish.
Trade turnover grew amidst lower volumes on the bourse, where industrials, banking, real estate and realty sectors together accounted for about 80% of the total volume.
The Total Return Index shed 0.59% to 17,839.41 points, Al Rayan Islamic Index (Price) by 1.3% to 2,342.37 points and All Share Index by 0.28% to 3,027.44 points.
The consumer goods sector index shrank 0.97%, telecom (0.64%), transport (0.57%), industrials (0.56%) and banks and financial services (0.46%); whereas insurance and real estate gained 1.09% and 0.78% respectively.
More than 65% of the traded constituents were in the red with major shakers being Qatar Islamic Bank, al khaliji, Qatar Oman Investment, Qatari German Company for Medical Devices, Salam International Investment, Industries Qatar, United Development Company, Barwa, Vodafone Qatar and Milaha; even as Qatar Electricity and Water, Qatar Insurance, Ezdan and Gulf Warehousing were among the prime gainers.
Non-Qatari individuals’ net selling increased influentially to QR5.84mn compared to QR2mn the previous day.
Domestic institutions’ net buying declined impressively to QR2.43mn against QR38.94mn on March 5.
However, local retail investors turned net buyers to the tune of QR16.28mn compared with net sellers of QR14.02mn on Tuesday.
The Gulf institutions’ net buying strengthened noticeably to QR3.22mn against QR1.02mn the previous day.
The Gulf individuals were net buyers to the extent of QR0.02mn compared with net sellers of QR0.44mn on March 5.
Non-Qatari institutions’ net profit booking declined perceptibly to QR16.14mn against of QR23.5mn on Tuesday.
Total trade volume fell 7% to 7.56mn shares, while value grew 4% to QR240.51mn and transactions by 4% to 5,606.
The consumer goods sector’s trade volume soared 53% to 0.29mn equities, value by 91% to QR30.44mn and deals by 77% to 467.
The real estate sector reported 48% surge in trade volume to 1.66mn stocks, 69% in value to QR32.66mn and 28% in transactions to 911.
The telecom sector’s trade volume shot up 20% to 0.77mn shares, value by 66% to QR18.29mn and deals by 37% to 676.
The banks and financial services sector saw 3% growth in trade volume to 1.57mn equities but on 6% fall in value to QR68.75mn and 1% in transactions to 1,195.
However, there was 62% plunge in the insurance sector’s trade volume to 0.16mn stocks, 62% in value to QR5.35mn and 26% in deals to 203.
The transport sector’s trade volume plummeted 35% to 0.3mn shares, value by 26% to QR7.92mn and transactions by 27% to 218.
The market witnessed 25% shrinkage in the industrials sector’s trade volume to 2.81mn equities, 13% in value to QR77.1mn and 9% in deals to 1,936.
In the debt market, there was no trading of treasury bills and sovereign bonds.
The increased selling pressure from non-Qatari individuals also had its role in dampening the market, whose sensitive index registered 4.03% shrinkage year-to-date.
Market capitalisation eroded about 1% or about QR6bn to QR563.61bn mainly owing to mid and microcap segments.
Islamic equities were seen declining faster than the main index on the market, where local and Gulf retail investors turned bullish.
Trade turnover grew amidst lower volumes on the bourse, where industrials, banking, real estate and realty sectors together accounted for about 80% of the total volume.
The Total Return Index shed 0.59% to 17,839.41 points, Al Rayan Islamic Index (Price) by 1.3% to 2,342.37 points and All Share Index by 0.28% to 3,027.44 points.
The consumer goods sector index shrank 0.97%, telecom (0.64%), transport (0.57%), industrials (0.56%) and banks and financial services (0.46%); whereas insurance and real estate gained 1.09% and 0.78% respectively.
More than 65% of the traded constituents were in the red with major shakers being Qatar Islamic Bank, al khaliji, Qatar Oman Investment, Qatari German Company for Medical Devices, Salam International Investment, Industries Qatar, United Development Company, Barwa, Vodafone Qatar and Milaha; even as Qatar Electricity and Water, Qatar Insurance, Ezdan and Gulf Warehousing were among the prime gainers.
Non-Qatari individuals’ net selling increased influentially to QR5.84mn compared to QR2mn the previous day.
Domestic institutions’ net buying declined impressively to QR2.43mn against QR38.94mn on March 5.
However, local retail investors turned net buyers to the tune of QR16.28mn compared with net sellers of QR14.02mn on Tuesday.
The Gulf institutions’ net buying strengthened noticeably to QR3.22mn against QR1.02mn the previous day.
The Gulf individuals were net buyers to the extent of QR0.02mn compared with net sellers of QR0.44mn on March 5.
Non-Qatari institutions’ net profit booking declined perceptibly to QR16.14mn against of QR23.5mn on Tuesday.
Total trade volume fell 7% to 7.56mn shares, while value grew 4% to QR240.51mn and transactions by 4% to 5,606.
The consumer goods sector’s trade volume soared 53% to 0.29mn equities, value by 91% to QR30.44mn and deals by 77% to 467.
The real estate sector reported 48% surge in trade volume to 1.66mn stocks, 69% in value to QR32.66mn and 28% in transactions to 911.
The telecom sector’s trade volume shot up 20% to 0.77mn shares, value by 66% to QR18.29mn and deals by 37% to 676.
The banks and financial services sector saw 3% growth in trade volume to 1.57mn equities but on 6% fall in value to QR68.75mn and 1% in transactions to 1,195.
However, there was 62% plunge in the insurance sector’s trade volume to 0.16mn stocks, 62% in value to QR5.35mn and 26% in deals to 203.
The transport sector’s trade volume plummeted 35% to 0.3mn shares, value by 26% to QR7.92mn and transactions by 27% to 218.
The market witnessed 25% shrinkage in the industrials sector’s trade volume to 2.81mn equities, 13% in value to QR77.1mn and 9% in deals to 1,936.
In the debt market, there was no trading of treasury bills and sovereign bonds.
