The Qatar Stock Exchange on Sunday opened the week weak to fall below the 9,700 level, mainly on stronger selling pressure from domestic institutions.
The consumer goods, transport, telecom and real estate counters witnessed higher than average profit booking as the 20-stock Qatar Index settled 0.34% lower at 9,697.3 points.
Foreign institutions continued to be net buyers but with lesser vigour in the market, whose sensitive index is down 5.84% year-to-date.
Market capitalisation was down about QR1bn, or 0.15%, to QR537.36bn mainly owing to microcap segments.
Islamic equities were seen declining slower than the main index in the market, where local, Gulf and non-Qatari retail investors turned bullish.
Trade turnover and volumes were on the increase in the bourse, where the industrials and realty sectors together accounted for about 72% of the total volume.
The Total Return Index declined 0.34% to 17,843.86 points, the Al Rayan Islamic Index (Price) by 0.18% to 2,258.82 points and the All Share Index by 0.31% to 2,886.54 points.
The consumer goods index shrank 1.5%, transport (1.15%), telecom (0.65%), real estate (0.55%), banks and financial services (0.28%) and insurance (0.19%); whereas industrials gained 0.5%.
About 76% of the traded constituents were in the red with major losers being Nakilat, Qatari Investors Group, Qatar Oman Investment, Woqod, Gulf International Services, United Development Company and Ooredoo; even as QIIB, Industries Qatar, Mesaieed Petrochemical Holding and Qatar Islamic Insurance were among the prime gainers.
Domestic institutions’ net profit booking increased influentially to QR73.25mn compared to QR35.21mn last Thursday.
Non-Qatari institutions’ net buying declined marginally to QR51.86mn against QR52.91mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR20.83mn compared with net sellers of QR13.64mn on May 23.
Gulf individuals were also net buyers to the extent of QR0.98mn against net sellers of QR0.82mn last Thursday.
Non-Qataris turned net buyers to the tune of QR0.83mn compared with net sellers of QR1.72mn the previous trading day.
Gulf institutions’ net profit booking declined perceptibly to QR1.25mn against QR1.49mn on May 23.
Total trade volume grew 15% to 10.28mn shares and value by 2% to QR297.17mn, while transactions were down 8% to 6,927.
The industrials sector’s trade volume soared 34% to 5.19mn equities, value by 29% to QR133.81mn and deals by 6% to 2,302.
The banks and financial services sector saw a 27% surge in trade volume to 1.87mn stocks but on a 42% decline in value to QR42.71mn and 34% in transactions to 723.
The realty sector’s trade volume grew 10% to 2.19mn shares, whereas value shrank 27% to QR19.75mn and deals by 8% 2,641.
However, the transport sector witnessed a 75% plunge in trade volume to 0.07mn equities, 83% in value to QR1.46mn and 58% in transactions to 62.
The telecom sector’s trade volume plummeted 53% to 0.17mn stocks, value by 71% to QR2.01mn and deals by 67% to 130.
There was a 38% shrinkage in the insurance sector’s trade volume to 0.1mn shares, 61% in value to QR1.86mn and 57% in transactions to 59.
The consumer goods sector’s trade volume tanked 13% to 0.68mn equities, while value jumped 41% to QR95.57mn and deals by 34% to 1,010.
In the debt market, there was no trading of treasury bills and sovereign bonds.
