The Qatar Stock Exchange on Monday saw local and Gulf retail investors turn bullish, but lost more than 128 points in its key barometer with QR7bn loss in capitalisation.
An across the board selling – particularly in realty, transport and industrials – led the 20-stock Qatar Index settle to 1.3% lower at 9,770.04 points, although it touched a high of 9,898 points within few seconds of the opening.
Foreign funds and individuals were seen net profit takers in the market, which is down 6.29% year-to-date.
Market capitalisation saw more than QR7bn, or 1.33%, decline to QR540.52bn mainly owing to large and midcap segments.
Islamic stocks were seen declining faster than the other indices in the bourse, where the Gulf institutions were increasingly net sellers.
Trade turnover and volumes were on the increase in the bourse, where the banking, industrials and real estate sectors together accounted for about three-fourth of the total trading volume.
The Total Return Index fell 1.3% to 18,064.58 points, the All Share Index by 1.26% to 2,929.19 points and the Al Rayan Islamic Index (Price) by 2.08% to 2,102.98 points.
The realty index plunged 1.58%, transport (1.57%), industrials (1.42%), banks and financial services (1.27%), insurance (1.09%), consumer goods (0.99%) and telecom (0.25%).
About 78% of the traded constituents were in the red with major losers being Ezdan, United Development Company, Barwa, Gulf Warehousing, Nakilat, Al Khaleej Takaful, Medicare Group, Qatar National Cement, Industries Qatar, Qatari Investors Group, Qatar Electricity and Water, Aamal Company, Qatar Aluminium and Commercial bank; even as Qatar Oman Investment, Islamic Holding Group, Mazaya Qatar and Doha Insurance were among the gainers.
The Gulf funds’ net profit booking increased considerably to QR16.57mn compared to QR3.9mn on February 23.
Non-Qatari funds turned net sellers to the tune of QR8.75mn against net buyers of QR4.49mn the previous day.
Non-Qatari individuals were also net sellers to the extent of QR1.22mn compared with net buyers of QR0.17mn on Sunday.
Domestic institutions’ net buying weakened significantly to QR11.86mn against QR28.16mn on February 23.
However, Qataris were net buyers to the tune of QR13.92mn compared with net sellers of QR35.55mn the previous day.
The Gulf individual investors also turned net buyers to the extent of QR0.76mn against net sellers of QR3.37mn on Sunday.
Total trade volumes rose 40% to 70.45mn shares and value by 63% to QR209.95mn on more than doubled transactions to 6,205.
The telecom sector’s trade volume almost tripled to 2.93mn equities and value more than quadrupled to QR14.05mn on almost-seven-fold jump in deals to 896.
The real estate sector’s trade volume almost doubled to 14.38mn stocks and value more than doubled to QR13.37mn on more-than-tripled transactions to 592.
The insurance sector reported a 90% surge in trade volume to 3.81mn shares, 20% in value to QR7.04mn and 54% in deals to 214.
The consumer goods sector’s trade volume soared 53% to 9.26mn equities, value by 54% to QR21.97mn and transactions by 27% to 557.
There was a 45% expansion in the industrials sector’s trade volume to 18mn stocks, 58% in value to QR43.16mn and 61% in deals to 1,468.
The transport sector’s trade volume shot up 31% to 1.84mn shares, value by 33% to QR4.54mn and transactions by 80% to 180.
However, the banks and financial services sector saw less than 1% decline in trade volume to 20.23mn equities but on 53% growth in value to QR105.82mn on more than doubled deals to 2,298.
In the debt market, there was no trading of sovereign bonds and treasury bills.