The Qatar Stock Exchange continued its bearish spell for the fifth consecutive day on Monday and remained under 9,700 levels, mainly dragged by local retail investors.
Insurance and transport counters witnessed higher than average selling pressure, leading the 20-stock Qatar Index settle 0.25% lower at five-month low of 9,744.22 points.
The bearish outlook of non-Qatari retail investors also played its role in dampening the market, whose sensitive index is down 5.39% year-to-date.
Market capitalisation shed more than QR1bn to QR552.34bn mainly owing to microcap segments.
Islamic equities were seen declining faster than the main index in the market, where non-Qatari institutions and Gulf individuals turned bullish.
Trade turnover and volumes were on the increase on the bourse, where industrials, realty and banking sectors together accounted for about 90% of the total volume.
The Total Return Index shed 0.06% to 17,672.19 points, Al Rayan Islamic Index (Price) by 0.39% to 2,305.17 points and All Share Index by 0.07% to 2,976.45 points.
The insurance index shrank 1.56%, transport (0.26%), industrials (0.21%) and banks and financial services (0.19%); whereas consumer goods gained 1.04%, real estate (0.34%) and telecom (0.29%).
Major shakers included Gulf International Services, QIIB, Medicare Group, Qatar Industrial Manufacturing, Barwa and Milaha; even as Islamic Holding Group, Qatari German Company for Medical Devices and Ezdan were among the prime gainers.
Local retail investors turned net sellers to the tune of QR24.22mn against net buyers of QR13.39mn on March 10.
Non-Qatari individuals were net also net sellers to the extent of QR2.73mn compared with net buyers of QR5.25mn on Sunday.
Domestic institutions’ net buying declined marginally to QR3.63mn against QR4.66mn the previous day.
However, non-Qatari funds turned net buyers to the tune of QR23.46mn compared with net sellers of QR7.55mn on March 10.
The Gulf individuals were also net buyers to the extent of QR1.15mn against net profit takers of QR0.77mn on Sunday.
The Gulf funds’ net selling declined considerably to QR1.29mn compared to QR10.07mn the previous day.
Total trade volume grew 43% to 10.22mn shares, value by 20% to QR243.87mn and transactions by 12% to 5,029.
The real estate sector’s trade volume soared 78% to 2.32mn equities, value by 59% to QR36.35mn and deals by 47% to 1,064.
There was 73% surge in the industrials sector’s trade volume to 4.78mn stocks, 50% in value to QR94.27mn and 19% in transactions to 1,917.
The banks and financial services sector’s trade volume expanded 22% to 2.09mn shares, while value fell 2% to QR63.44mn despite 5% higher deals at 932.
The transport sector reported 5% rise in trade volume to 0.23mn equities, 19% in value to QR5.49mn and 51% in transactions to 218.
However, the insurance sector’s trade volume plummeted 40% to 0.18mn stocks, value by 42% QR5.81mn and deals by 41% to 208.
The telecom sector saw 28% plunge in trade volume to 0.39mn shares, value by 40% to QR12.51mn and transactions by 46% to 300.
The consumer goods sector’s trade volume tanked 28% to 0.23mn equities, whereas value shot up 49% to QR26.01mn and deals by 88% to 390.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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