The Qatar Stock Exchange Monday witnessed strong buying interests among local retail investors and domestic funds even amidst a huge 877 points plunge in key barometer and about QR48bn erosion in capitalisation.
An across-the-board selling, particularly within telecom, realty and transport counters, dragged the 20-stock Qatar Index 9.7%, its largest single-day loss in multi decades, to 8,160.23 points, although it opened at a high of 9,000 points.
As many as 10 stocks were down 10% and another 22 came close to that lower circuit filter in the market, whose year-to-date losses widened to 21.73%, apparently reflecting the global sentiments.
Market capitalisation saw 9.46% erosion to QR455.01bn mainly owing to large and midcap segments.
Islamic stocks were however seen declining relatively slower than the main barometer on the bourse, where foreign institutions were increasingly net profit takers.
Trade turnover and volumes were on the decline on the bourse, where realty and banking sectors together accounted for about 60% of the total trading volume.
The Total Return Index plummeted 9.69% to 15,306.81 points, Al Rayan Islamic Index (Price) by 9.17% to 1,741.3 points and All Share Index by 9.51% to 2,488.29 points.
The telecom index plunged 9.99%, realty (9.78%), transport (9.77%), bank and financial services (9.62%), industrials (9.48%), insurance (8.8%) and consumer goods (8.59%).
More than 93% of the traded constituents were in the red with major losers being QNB, Industries Qatar, Commercial Bank, Woqod, Aamal Company, Qamco, Qatar Insurance, Milaha, Gulf Warehousing, Gulf International Services, Mesaieed Petrochemical Holding, Qatar First Bank, Barwa, Ezdan and Mazaya Qatar.
Non-Qatari institutions’ net selling increased considerably to QR67.22mn compared to QR20.61mn on March 8.
The Gulf funds’ net profit booking strengthened extensively to QR44.36mn against QR16.93mn the previous day.
Non-Qatari individual investors’ net buying weakened noticeably to QR4.95mn compared to QR10.24mn on Sunday.
However, local retail investors’ net buying grew significantly to QR65.8mn against QR32.54mn on March 8.
Domestic funds were net buyers to the tune of QR36.83mn compared with net sellers of QR6.18mn the previous day.
The Gulf individual investors’ net buying increased perceptibly to QR4mn against QR0.86mn on Sunday.
Total trade volumes rose 68% to 206.72mn shares, value by 77% to QR526.79mn and transactions by 39% to 9,505.
The transport sector’s trade volume more than tripled to 7.35mn equities and value almost quadrupled to QR18.97mn on more than doubled deals to 445.
The banks and financial services sector’s trade volume more than doubled to 52.08mn stocks and value also more than doubled to QR282.94mn on 80% increase in transactions to 4,076.
The real estate sector’s trade volume almost doubled to 71.81mn shares and value soared 51% to QR45.8mn, whereas deals declined 27% to 826.
The industrials sector’s trade volume shot up 77% to 28.68mn equities and value more than doubled to QR73.81mn on more than doubled transactions to 1,904.
The consumer goods sector reported 16% surge in trade volume to 39.01mn stocks, 30% in value to QR84.69mn and 5% in deals to 1,595.
The telecom sector’s trade volume expanded 10% to 4.44mn shares, while value shrank 13% to QR13.11mn and transactions by 38% to 367.
However, the insurance sector saw 46% plunge in trade volume to 3.35mn equities and 48% in value to QR7.47mn but on 39% jump in deals to 292.
In the debt market, there was no trading of sovereign bonds and treasury bills.
As many as 10 stocks were down 10% and another 22 came close to that lower circuit filter in the market, whose year-to-date losses widened to 21.73%, apparently reflecting the global sentiments.
Market capitalisation saw 9.46% erosion to QR455.01bn mainly owing to large and midcap segments.
Islamic stocks were however seen declining relatively slower than the main barometer on the bourse, where foreign institutions were increasingly net profit takers.
Trade turnover and volumes were on the decline on the bourse, where realty and banking sectors together accounted for about 60% of the total trading volume.
The Total Return Index plummeted 9.69% to 15,306.81 points, Al Rayan Islamic Index (Price) by 9.17% to 1,741.3 points and All Share Index by 9.51% to 2,488.29 points.
The telecom index plunged 9.99%, realty (9.78%), transport (9.77%), bank and financial services (9.62%), industrials (9.48%), insurance (8.8%) and consumer goods (8.59%).
More than 93% of the traded constituents were in the red with major losers being QNB, Industries Qatar, Commercial Bank, Woqod, Aamal Company, Qamco, Qatar Insurance, Milaha, Gulf Warehousing, Gulf International Services, Mesaieed Petrochemical Holding, Qatar First Bank, Barwa, Ezdan and Mazaya Qatar.
Non-Qatari institutions’ net selling increased considerably to QR67.22mn compared to QR20.61mn on March 8.
The Gulf funds’ net profit booking strengthened extensively to QR44.36mn against QR16.93mn the previous day.
Non-Qatari individual investors’ net buying weakened noticeably to QR4.95mn compared to QR10.24mn on Sunday.
However, local retail investors’ net buying grew significantly to QR65.8mn against QR32.54mn on March 8.
Domestic funds were net buyers to the tune of QR36.83mn compared with net sellers of QR6.18mn the previous day.
The Gulf individual investors’ net buying increased perceptibly to QR4mn against QR0.86mn on Sunday.
Total trade volumes rose 68% to 206.72mn shares, value by 77% to QR526.79mn and transactions by 39% to 9,505.
The transport sector’s trade volume more than tripled to 7.35mn equities and value almost quadrupled to QR18.97mn on more than doubled deals to 445.
The banks and financial services sector’s trade volume more than doubled to 52.08mn stocks and value also more than doubled to QR282.94mn on 80% increase in transactions to 4,076.
The real estate sector’s trade volume almost doubled to 71.81mn shares and value soared 51% to QR45.8mn, whereas deals declined 27% to 826.
The industrials sector’s trade volume shot up 77% to 28.68mn equities and value more than doubled to QR73.81mn on more than doubled transactions to 1,904.
The consumer goods sector reported 16% surge in trade volume to 39.01mn stocks, 30% in value to QR84.69mn and 5% in deals to 1,595.
The telecom sector’s trade volume expanded 10% to 4.44mn shares, while value shrank 13% to QR13.11mn and transactions by 38% to 367.
However, the insurance sector saw 46% plunge in trade volume to 3.35mn equities and 48% in value to QR7.47mn but on 39% jump in deals to 292.
In the debt market, there was no trading of sovereign bonds and treasury bills.
