An across-the-board selling, particularly in the industrials, insurance and real estate counters, Sunday dragged the Qatar Stock Exchange which for most part of the session remained well below 10,300 levels.
The Gulf funds’ bearish outlook and foreign institutions’ substantially lower buying interests led the 20-stock Qatar Index settle 0.74%, or 77 points, lower at 10,301.17 points.
The market witnessed precipitous decline in the first 30 minutes of opening after which it was range bound to remain below 10,300 levels, but some last minute buying drove the index up to a little over 10,300 levels.
Domestic institutions and local retail investors turned net buyers in the market, whose key benchmark is up a meagre 0.02% year-to-date.
Market capitalisation saw more than QR4bn, or 0.77%, erosion to QR570.95bn mainly owing to large and midcap segments.
Islamic equities were seen declining faster than the main index in the market, where the Gulf individuals continued to be net profit takers but with lesser vigour.
Trade turnover and volumes were on the decline in the bourse, where the banking and industrials sectors together accounted for more than 56% of the total volume.
The Total Return Index declined 0.74% to 18,955.03 points, the All Share Index by 0.68% to 3,046.22 points and the Al Rayan Islamic Index (Price) by 0.77% to 2,301.4 points.
The industrials index shrank 2.01%, insurance (1.61%), realty (0.98%), transport (0.52%), banks and financial services (0.24%), consumer goods (0.09%) and telecom (0.09%).
About 66% of the traded constituents were in the red with major losers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Insurance, Milaha, Commercial Bank, Qatar Oman Investment, Dlala, Qatar Islamic Insurance and Barwa; even as QIIB, Qatari German Company for Medical Devices, Medicare Group, Mannai Corporation, Ooredoo and Nakilat were among the gainers.
Non-Qatari institutions’ net buying weakened substantially to QR0.46mn compared to QR36.38mn on October 24.
The Gulf institutions turned net sellers to the tune of QR7.97mn against net buyers of QR3.56mn the previous trading day.
However, domestic institutions were net buyers to the extent of QR15.03mn compared with net sellers of QR14.96mn last Thursday.
Non-Qatari individuals turned net buyers to the tune of QR1.49mn against net profit takers of QR3.09mn on October 24.
Local retail investors turned net buyers to the extent of QR0.43mn compared with net sellers of QR7.05mn the previous trading day.
The Gulf individuals’ net profit booking declined considerably to QR9.46mn against QR14.84mn last Thursday.
Total trade volume fell 14% to 52.19mn shares, value by 40% to QR139.16mn and 8% transactions by 23% to 3,171.
The telecom sector’s trade volume plummeted 65% to 0.78mn equities, value by 80% to QR2.02mn and deals by 66% to 83.
The real estate sector saw a 27% plunge in trade volume to 7.24mn stocks, 32% in value to QR5.93mn and 42% in transactions to 253.
The banks and financial services sector’s trade volume tanked 24% to 17.37mn shares, value by 53% to QR57.77mn and 30% in deals to 1,003.
The insurance sector reported a 9% shrinkage in trade volume to 4.52mn equities, 28% in value to QR11.07mn and 18% in transactions to 313.
However, the consumer goods sector’s trade volume soared 17% to 7mn stocks, whereas value shrank 36% to QR24.31mn and deals by 8% to 487.
There was a 9% expansion in the transport sector’s trade volume to 3.37mn shares but on a 5% decline in value to QR8.87mn and 11% in transactions to 128.
The industrials sector’s trade volume was up 2% to 11.92mn equities and value by 2% to QR29.19mn, while deals were down 1% to 904.
In the debt market, there was no trading of treasury bills and sovereign bonds.
The market witnessed precipitous decline in the first 30 minutes of opening after which it was range bound to remain below 10,300 levels, but some last minute buying drove the index up to a little over 10,300 levels.
Domestic institutions and local retail investors turned net buyers in the market, whose key benchmark is up a meagre 0.02% year-to-date.
Market capitalisation saw more than QR4bn, or 0.77%, erosion to QR570.95bn mainly owing to large and midcap segments.
Islamic equities were seen declining faster than the main index in the market, where the Gulf individuals continued to be net profit takers but with lesser vigour.
Trade turnover and volumes were on the decline in the bourse, where the banking and industrials sectors together accounted for more than 56% of the total volume.
The Total Return Index declined 0.74% to 18,955.03 points, the All Share Index by 0.68% to 3,046.22 points and the Al Rayan Islamic Index (Price) by 0.77% to 2,301.4 points.
The industrials index shrank 2.01%, insurance (1.61%), realty (0.98%), transport (0.52%), banks and financial services (0.24%), consumer goods (0.09%) and telecom (0.09%).
About 66% of the traded constituents were in the red with major losers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Insurance, Milaha, Commercial Bank, Qatar Oman Investment, Dlala, Qatar Islamic Insurance and Barwa; even as QIIB, Qatari German Company for Medical Devices, Medicare Group, Mannai Corporation, Ooredoo and Nakilat were among the gainers.
Non-Qatari institutions’ net buying weakened substantially to QR0.46mn compared to QR36.38mn on October 24.
The Gulf institutions turned net sellers to the tune of QR7.97mn against net buyers of QR3.56mn the previous trading day.
However, domestic institutions were net buyers to the extent of QR15.03mn compared with net sellers of QR14.96mn last Thursday.
Non-Qatari individuals turned net buyers to the tune of QR1.49mn against net profit takers of QR3.09mn on October 24.
Local retail investors turned net buyers to the extent of QR0.43mn compared with net sellers of QR7.05mn the previous trading day.
The Gulf individuals’ net profit booking declined considerably to QR9.46mn against QR14.84mn last Thursday.
Total trade volume fell 14% to 52.19mn shares, value by 40% to QR139.16mn and 8% transactions by 23% to 3,171.
The telecom sector’s trade volume plummeted 65% to 0.78mn equities, value by 80% to QR2.02mn and deals by 66% to 83.
The real estate sector saw a 27% plunge in trade volume to 7.24mn stocks, 32% in value to QR5.93mn and 42% in transactions to 253.
The banks and financial services sector’s trade volume tanked 24% to 17.37mn shares, value by 53% to QR57.77mn and 30% in deals to 1,003.
The insurance sector reported a 9% shrinkage in trade volume to 4.52mn equities, 28% in value to QR11.07mn and 18% in transactions to 313.
However, the consumer goods sector’s trade volume soared 17% to 7mn stocks, whereas value shrank 36% to QR24.31mn and deals by 8% to 487.
There was a 9% expansion in the transport sector’s trade volume to 3.37mn shares but on a 5% decline in value to QR8.87mn and 11% in transactions to 128.
The industrials sector’s trade volume was up 2% to 11.92mn equities and value by 2% to QR29.19mn, while deals were down 1% to 904.
In the debt market, there was no trading of treasury bills and sovereign bonds.
