The Qatar Stock Exchange (QSE) on Sunday saw local and Gulf retail investors turn bullish amidst a bearish overhang. The Gulf institutions were also seen bullish, even as the 20-stock Qatar Index settled lower at 9,863.1 points.
Strong offloading was visible mainly at the insurance, consumer goods and industrials counters in the market, whose sensitive index is down 4.23% year-to-date.
Market capitalisation eroded more than QR3bn or 0.59% to QR557.75bn mainly owing to midcap segments.
Islamic equities were seen gaining slower than the main index in the market, where domestic funds’ net profit booking declined drastically.
Trade turnover and volumes were on the decline in the bourse, where realty, industrials and banking sectors together accounted for more than 76% of the total volume.
The Total Return Index shrank 1.08% to 17,912.03 points, Al Rayan Islamic Index (Price) by 1.03% to 2,319.78 points and All Share Index by 0.28% to 3,007.59 points.
The insurance index tanked 2.69%, consumer goods (1.68%), industrials (1.22%), telecom (1.01%) and banks and financial services (0.78%); whereas real estate and transport gained 3.84% and 1.3% respectively.
More than 53% of the traded stocks were in the red with major losers being Qatar Insurance, Woqod, Qatari German Company for Medical Devices, Masraf Al Rayan, Dlala, Industries Qatar, Mesaieed Petrochemical Holding, Ooredoo and Vodafone Qatar; even as Ezdan, Mazaya Qatar, Gulf Warehousing, Nakilat, Commercial Bank and Doha Bank were among the prime gainers.
Non-Qatari institutions’ net buying declined significantly to QR6.82mn compared to QR456.01mn on March 14.
However, local retail investors turned net buyers to the tune of QR17.37mn against net sellers of QR148.99mn last Thursday.
The Gulf funds were also net buyers to the extent of QR5.67mn compared with net sellers of QR20.94mn the previous trading day.
The Gulf individuals turned net buyers to the tune of QR2.77mn against net profit takers of QR2.29mn on March 14.
Domestic institutions’ net selling declined influentially to QR28.95mn compared to QR264.14mn last Thursday.
Non-Qatari individuals’ net profit booking fell noticeably to QR3.68mn against QR19.65mn the previous trading day.
Total trade volume fell 79% to 8.3mn shares, value by 86% to QR193.66mn and transactions by 52% to 4,801.
The industrials sector’s trade volume plummeted 90% to 1.89mn equities, value by 90% to QR39.95mn and deals by 49% to 1,685.
The insurance sector reported 89% plunge in trade volume to 0.61mn stocks, 90% in value to QR19.36mn and 80% in transactions to 143.
The consumer goods sector’s trade volume tanked 88% to 0.38mn shares, value by 94% to QR23.15mn and deals by 81% to 231.
The banks and financial services sector saw 62% shrinkage in trade volume to 1.52mn equities, 85% in value to QR38.32mn and 51% in transactions to 734.
The transport sector’s trade volume decreased 56% to 0.61mn stocks, value by 50% to QR23.35mn and deals by 62% to 249.
There was 50% contraction in the real estate sector’s trade volume to 2.92mn shares, 60% in value to QR44.46mn and 25% in transactions to 1,559.
The telecom sector’s trade volume shrank 37% to 0.37mn equities, value by 78% to QR5.07mn and deals by 64% to 200.
In the debt market, there was no trading of treasury bills and sovereign bonds.