An across-the-board profit booking — especially in industrials, banking, insurance and transport sectors — on Tuesday led the Qatar Stock Exchange to shed as much as 198 points and settle a tad above 9,700 levels.
Domestic institutions turned net sellers as the 20-stock Qatar Index plummeted 2% to 9,700.77 points.
The Gulf individuals were also seen bearish in the market, whose sensitive index is down 5.81% year-to-date.
Market capitalisation eroded more than QR12bn or 2.2% to QR536.7bn mainly owing to large, mid and small cap segments.
Islamic equities were seen declining relatively slower than the main index in the market, where the Gulf individuals’ net buying was seen weakening.
Trade turnover and volumes were on the increase on the bourse, where industrials and real estate sectors together accounted for more than 74% of the total volume.
The Total Return Index tanked 2% to 17,850.23 points, Al Rayan Islamic Index (Price) by 1.92% to 2,250.07 points and All Share Index by 2.07% to 2,889.41 points.
The industrials index declined 2.74%, banks and financial services (2.22%), insurance (2.16%), transport (2.06%), real estate (1.86%), telecom (0.68%) and consumer goods (0.47%).
About 78% of the traded constituents were in the red with major shakers being Mesaieed Petrochemical Holding, Gulf International Services, Industries Qatar, QNB, Qatar Islamic Bank, Commercial Bank, Nakilat, Islamic Holding Group, Qatari German Company for Medical Devices, Vodafone Qatar, Ezdan and Qatar National Cement; even as Ahlibank Qatar, Qatari Investors Group, Ooredoo and Qatar Oman Investment were among the prime gainers.
Domestic institutions turned net sellers to the tune of QR24.43mn against net buyers of QR12.75mn on Monday.
The Gulf individuals were also net sellers to the extent of QR1.09mn compared with net buyers of QR0.04mn on May 20.
Non-Qatari individuals’ net buying declined influentially to QR3.85mn against QR7.05mn the previous day.
However, non-Qatari institutions’ net buying increased noticeably to QR13.93mn compared to QR7.36mn on Monday.
Local retail investors turned net buyers to the tune of QR5.23mn against net sellers of QR17.19mn on May 20.
The Gulf funds were net buyers to the extent of QR2.57mn compared with net sellers of QR10.01mn the previous day.
Total trade volume rose 19% to 20.47mn shares, value by 6% to QR475.37mn and transactions by 10% to 10,820.
The consumer goods sector’s trade volume almost doubled to 1.69mn equities, whereas value shrank 31% to QR68.26mn and deals by 19% to 720.
The industrials sector reported 40% surge in trade volume to 10.52mn stocks, 42% in value to QR252.71mn and 32% in transactions to 4,729.
The realty sector’s trade volume expanded 15% to 4.73mn shares, value by 7% to QR43.6mn and deals by 33% to 3,314.
However, there was 42% plunge in the transport sector’s trade volume to 0.57mn equities, 34% in value to QR14.11mn and 34% in transactions to 326.
The telecom sector’s trade volume tanked 41% to 0.47mn stocks, value by 52% to QR6.05mn and deals by 46% to 343.
The banks and financial services sector saw 15% shrinkage in trade volume to 2.16mn shares, 8% in value to QR81.54mn and 17% in transactions to 1,217.
The insurance sector’s trade volume was down 8% to 0.34mn equities, value by 5% to QR9.1mn and deals by 36% to 171.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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