The Qatar Stock Exchange on Monday snapped a seven-day bull run to decline more than 23 points and settle below 10,700 levels, mainly dragged by the industrials and banking sectors.
Local retail investors’ increased net profit booking pressure led the 20-stock Qatar Index decline 0.22% to 10,689.66 points, amidst heightened trading activities.
The non-Qatari and Gulf individual investors were seen bearish in the market, which is however up 2.53% year-to-date.
Market capitalisation saw more than QR1bn, or 0.23%, decline to QR594bn mainly owing to mid and microcap segments.
Islamic stocks were seen declining slower than the other indices in the bourse, where foreign and domestic funds were increasingly bullish.
Trade turnover and volumes were on the increase in the bourse, where the real estate and banking sectors together accounted for more than 70% of the total volume.
The Total Return Index declined 0.22% to 19,669.89 points, the All Share Index by 0.22% to 3,170.65 points and the Al Rayan Islamic Index (Price) by 0.19% to 2,358.7 points.
The industrials index shrank 0.56%, banks and financial services (0.22%), insurance (0.06%), transport (0.04%) and consumer goods (0.02%); while realty and telecom grew 0.26% and 0.02% respectively.
About 47% of the traded stocks were in the red with major losers being QNB, Dlala, Widam Food, Mannai Corporation, Industries Qatar, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Mazaya Qatar, Vodafone Qatar and Nakilat; whereas Ezdan, Qatar First Bank, Qatari German Company for Medical Devices, Islamic Holding Group and Qatar General Insurance and Reinsurance were among the gainers.
Local retail investors’ net profit booking increased noticeably to QR73.56mn against QR68.81mn on January 19.
Non-Qatari individuals turned net sellers to the tune of QR3.65mn compared with net buyers of QR1.27mn on Sunday.
The Gulf individuals were also net sellers to the extent of QR0.03mn against net buyers of QR0.68mn the previous day.
However, non-Qatari funds’ net buying expanded significantly to QR67.56mn compared to QR60.92mn on January 19.
Domestic institutions’ net buying strengthened marginally to QR12.59mn against QR12.1mn on Sunday.
The Gulf institutions’ net profit booking shrank perceptibly to QR2.89mn compared to QR6.2mn the previous day.
Total trade volumes grew 89% to 120.09mn shares, value by 40% to QR272.54mn and transactions by 48% to 5,761.
The real estate sector’s trade volume more than tripled to 45.45mn equities and value soared 59% to QR35.05mn on more than doubled deals to 943.
The banks and financial services sector’s trade volume more than doubled to 39.1mn stocks, value increased 48% to QR147.79mn and transactions by 46% to 2,326.
There was a 22% surge in the telecom sector’s trade volume to 8.33mn shares and value almost tripled to QR31.57mn on almost doubled deals to 657.
The consumer goods sector’s trade volume was up 8% to 10.38mn equities, whereas value declined 29% to QR16.23mn and transactions by 14% to 563.
However, the insurance sector reported a 53% plunge in trade volume to 0.56mn stocks, 46% in value to QR1.67mn and 25% in deals to 90.
The transport sector’s trade volume plummeted 17% to 4.84mn shares, value by 9% to QR15.66mn and transactions by 44% to 141.
Although the industrials sector’s trade volume was flat at 11.43mn equities, the market saw a 35% expansion in value to QR24.56mn and 87% in deals to 1,031.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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