The Qatar Stock Exchange on Sunday opened the week weak with its key barometer plunging more than 100 points on strong selling especially within telecom, real estate, banking and transport counters.
The Gulf institutions were seen bearish as the 20-stock Qatar Index settled 1.02% lower at 9,817.67 points.
There was also increased net selling pressure from the Gulf and non-Qatari individuals in the market, whose key benchmark closed 4.67% lower year-to-date.
Market capitalisation saw more than QR7bn or 1.43% erosion to QR540.77bn mainly owing to large and midcap segments.
Islamic equities were however seen declining slower than the other indices in the market, where domestic institutions were increasingly bullish.
Trade turnover and volumes were on the decline on the bourse, where banking, industrials and realty sectors together accounted for more than 80% of the total volume.
The Total Return Index declined 1.02% to 18,065.34 points, Al Rayan Islamic Index (Price) by 0.48% to 2,239.95 points and All Share Index by 1.3% to 2,894.42 points.
The telecom index plummeted 3.08%, real estate (1.91%), banks and financial services (1.63%), transport (1.14%), industrials (0.76%) and insurance (0.56%); whereas consumer goods gained 0.96%.
About 70% of the traded constituents were in the red with major losers being Ooredoo, QNB, Ezdan, Milaha, Qatar Islamic Bank, Commercial Bank, Alijarah Holding, Qatari German Company for Medical Devices, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Vodafone Qatar and Mazaya Qatar; even as Qatar Oman Investment, Woqod and Qatar General Insurance and Reinsurance were gainers.
Non-Qatari individuals’ net profit booking grew noticeably to QR8.59mn compared to QR2.44mn the previous trading day.
The Gulf individual investors’ net selling also expanded significantly to QR7.01mn against QR1.83mn on August 22.
The Gulf institutions turned net sellers to the tune of QR5.68mn compared with net buyers of QR10.14mn last Thursday.
However, domestic institutions’ net buying increased influentially to QR40.41mn against QR27.04mn the previous trading day.
Non-Qatari institutions’ net selling declined substantially to QR14.99mn compared to QR19.5mn on August 22.
Local retail investors’ net profit booking eased perceptibly to QR4.14mn against QR13.44mn last Thursday.
Total trade volume fell 51% to 60.49mn shares, value by 45% to QR144.93mn and transaction by 44% to 4,989.
The industrials sector’s trade volume plummeted 81% to 12.19mn equities, value by 62% to QR27.43mn and deals by 48% to 1,789.
The consumer goods reported 65% plunge in trade volume to 3.11mn stocks but on 28% increase in value to QR20.55mn despite 4% lower transactions at 437.
The telecom sector’s trade volume tanked 60% to 2.73mn shares, value by 61% to QR10.92mn and deals by 41% to 735.
There was 19% shrinkage in the insurance sector’s trade volume to 1.49mn equities, 21% in value to QR4.06mn and 57% in transactions to 124.
The banks and financial services sector’s trade volume was down 7% to 24.8mn stocks, value by 45% to QR59.33mn and deals by 47% to 1,169.
However, the transport sector saw 42% surge in trade volume to 4.63mn shares and 10% in value to QR10.57mn but on 41% contraction in transactions to 243.
The real estate sector’s trade volume was up 7% to 11.54mn equities, while value shrank 46% to QR12.08mn and deals by 47% to 492.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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