Profit booking pressures gripped the Qatar Stock Exchange, which lost sizeable 244 points or 2.28% in its key barometer and QR14bn in capitalisation this week.
Foreign institutions’ substantially weakened buying interests was rather instrumental in dampening the sentiments this week which saw the Qatar Central Bank figures suggest that trading and services sectors provided robust impetus to overall credit off-take from commercial banks in May 2019.
Trade turnover was on the decline amidst higher volumes this week which saw a faster expansion in exports help Qatar register a 3.5% month-on-month increase in trade surplus to QR13.56bn in May this year.
More than 67% of the traded constituents were in the red this week, which saw no trading of treasury bills and sovereign bonds.
The Total Return Index shrank 2.28%, All Share Index by 2.15% and Al Rayan Islamic Index (Price) by 1.53% this week which saw as many as 2,041 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.05mn trade across six deals.
Six of the seven sectors were under selling pressure this week which witnessed a total of 1,504 Doha Bank sponsored QETF valued at QR0.16mn changed hands across nine transactions.
Market capitalisation eroded 2.35% to QR576.21bn this week which saw large and midcaps come under strong profit booking pressure.
The insurance index tanked 3.54%, banks and financial services (3.02%), industrials (2.38%), telecom (1.56%), consumer goods (1.4%) and realty (0.29%); while transport gained 2.38% this week which saw banking and consumer goods sectors together accounted for about 74% of the total trade volume.
The banks and financial services sector accounted for 43% of the total volume, consumer goods (31), industrials (20%), real estate (3%), transport (2%), and telecom and insurance (1% each) this week.
In terms of value, banks and financial services sector’s share was 40%, industrials (24%), consumer goods and transport (12% each), realty (7%), and telecom and insurance (3% each) this week.
Foreign funds’ net buying declined significantly to QR99.74mn compared to QR262.7mn the week ended June 20.
However, local retail investors were net buyers to the tune of QR16.18mn compared with net sellers of QR110.77mn a week ago.
Non-Qataris were also net buyers to the tune of QR7.28mn against net profit takers of QR14.74mn the previous week.
Domestic institutions’ net selling decreased marginally to QR123.33mn compared to QR137.36mn the week ended June 20.
Total trade volume grew 13% to 255.21mn shares, while value fell 26% to QR1.25bn and transactions by 24% to 25,718 this week.
The industrials sector’s trade volume more than quadrupled to 50.63mn equities, while value declined 4% to QR297.13mn and deals by 18% to 8,142.
The consumer goods’ trade volume more than quadrupled to 78.65mn stocks, whereas value shrank 29% to QR144.59mn and transactions by 6% 3,704.
The transport sector reported 53% surge in trade volume to 5.34mn shares, 63% in value to QR146.32mn and 41% in deals to 1,520.
However, the telecom sector’s trade volume plummeted 65% to 2.71mn equities, value by 57% to QR38.92mn and transactions by 48% to 997.
The insurance sector saw 48% plunge in trade volume to 1.44mn stocks, 53% in value to QR32.23mn and 38% in deals to 834.
The real estate sector’s trade volume tanked 44% to 7.45mn shares, value by 33% to QR89.73mn and transactions by 35% to 2,630.
There was 35% shrinkage in the banks and financial services’ trade volume to 108.99mn equities, 37% in value to QR505.69mn and deals by 33% to 7,891.
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