Insurance and telecom counters witnessed strong buying interests, but overall, the Qatar Stock Exchange was on a negative turf for the second straight session on Monday.
Increased selling pressure from domestic and foreign institutions led the 20-stock Qatar Index settle 0.14% lower at 10,221.52 points.
The Gulf institutions continued to be net buyers but with lesser intensity on the market, whose sensitive index is down 0.75% year-to-date.
Market capitalisation declined more than QR1bn or 0.26% to QR573.26bn mainly owing to large cap segments.
Islamic equities were seen declining faster than the main index on the market, where local retail investors were increasingly net buyers.
Trade turnover grew amidst lower volumes in the bourse, where banking sector alone accounted for about 37% of the total volume.
The Total Return Index shed 0.14% to 18,808.45 points, Al Rayan Islamic Index (Price) by 0.21% to 2,400.4 points and All Share Index by 0.24% to 3,124.69 points.
The transport and real estate indices declined 0.95% each, industrials (0.47%), consumer goods (0.16%) and banks and financial services (0.13%); whereas insurance and telecom gained 1.78% and 0.75% respectively.
About 57% of the traded constituents were in the red with major losers being Qatar Electricity and Water, Ezdan, Qatar Islamic Insurance, Gulf Warehousing, Nakilat, Zad Holding, Widam Food and Mesaieed Petrochemical Holding.
Nevertheless, Qatar Insurance, Al Khaleej Takaful, Doha Insurance, Ooredoo, Qatar National Cement, Qatari German Company for Medical Devices, Salam International Investment, Commercial Bank, Dlala and Qatar Oman Investment were among the prime gainers.
Domestic institutions’ net profit booking grew significantly to QR25.63mn compared to QR11.26mn the previous day.
Non-Qatari institutions’ net selling increased substantially to QR10.68mn against QR5.69mn on April 14.
The Gulf institutions’ net buying weakened influentially to QR4.48mn compared to QR6.55mn on Sunday.
However, local retail investors’ net buying shot up considerably to QR29.3mn against QR12.51mn the previous day.
Non-Qatari individuals turned net buyers to the tune of QR1.61mn compared with net sellers of QR0.32mn on April 14.
The Gulf individual investors were also net buyers to the extent of QR0.91mn against net profit takers of QR1.74mn on Sunday.
Total trade volume fell 11% to 14.76mn shares, while value grew 9% to QR268.33mn and transactions by 39% to 6,476.
The banks and financial services sector saw 39% plunge in trade volume to 5.4mn equities and 7% in value to QR124.34mn but on 15% growth in deals to 1,768.
The realty sector’s trade volume shrank 10% to 2.85mn stocks, while value grew 10% to QR39.17mn on more than doubled transactions to 1,777.
However, the consumer goods sector’s trade volume more than doubled to 2.32mn shares and value grew 2% to QR28.07mn but on almost doubled deals to 666.
The transport sector’s trade volume more than doubled to 0.23mn equities and value almost doubled to QR5.48mn on more than doubled transactions to 158.
The market witnessed 14% increase in the industrials sector’s trade volume to 2.96mn stocks, 63% in value to QR56.9mn and 7% in deals to 1,677.
The telecom sector’s trade volume expanded 7% to 0.78mn shares, value by 24% to QR8.95mn and transactions by 71% to 304.
Although the insurance sector’s trade volume was flat at 0.21mn equities, there was 47% growth in value to QR5.42mn and 37% in deals to 126.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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