Foreign and Gulf funds’ bearish outlook yesterday extended the bearish run on the Qatar Stock Exchange for the third straight session.
The banking, transport and real estate sectors witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.71% or 64 points lower at 8,833.35 points.
Foreign retail investors’ increased net profit booking also had its dampening effect on the bourse, whose year-to-date losses rose to 15.27%.
Market capitalisation saw more than QR5bn or 1.01% decline to QR497.14bn mainly owing to mid and small cap segments.
Islamic stocks were seen declining slower than the other indices on the market, where Qatari investors turned bullish and domestic funds were increasingly net buyers.
Trade turnover grew amidst lower volumes in the market, where industrials and realty sectors together accounted for more than 67% of the total trading volume.
The Total Return Index shed 0.71% to 16,892.5 points, All Share Index by 0.97% to 2,744.42 points and Al Rayan Islamic Index (Price) by 0.51% to 1,910.96 points.
The banks and financial services index plunged 1.33%, transport (0.89%), realty (0.8%), industrials (0.48%), telecom (0.46%) and consumer goods and services (0.07%); while insurance gained 0.17%.
About 49% of the traded constituents were in the red with major losers being QNB, Industries Qatar, Medicare Group, Qatar National Cement, Qatar Industrial Manufacturing, Qatari Investors Group, Mannai Corporation, United Development Company, Vodafone Qatar and Nakilat.
Nevertheless, Qatar Oman Investment, Islamic Holding Group, Dlala, Salam International Investment, Qatari German Company for Medical Devices, Zad Holding, Mesaieed Petrochemical Holding and Al Khaleej Takaful.
Foreign institutions turned net sellers to the tune of QR17.01mn against net buyers of QR6.49mn on April 12.
Foreign individuals’ net selling increased noticeably to QR2.27mn compared to QR1.73mn the previous day.
The Gulf institutions turned net sellers to the extent of QR0.74mn against net buyers of QR0.45mn on Sunday.
However, domestic funds’ net buying grew significantly to QR14.79mn compared to QR3.73mn on April 10.
Qataris were net buyers to the tune of QR3.15mn against net sellers of QR9.28mn the previous day.
The Arab individuals’ net buying strengthened notably to QR2.24mn compared to QR0.8mn on Sunday.
The Arab institutions were net buyers to the extent of QR0.02mn.
The Gulf individuals’ net profit booking weakened perceptibly to QR0.15mn against QR0.49mn on Sunday.
Total trade volumes fell 1% to 88.87mn shares, while value grew 14% to QR151.36mn and transactions by 32% to 4,152.
There was 43% contraction in the real estate sector’s trade volume to 21.06mn equities, 27% in value to QR18.11mn and 2% in deals to 526.
However, the transport sector’s trade volume grew almost five-fold to 3.68mn stocks and value by about six-fold to QR10.2mn on almost tripled transactions to 261.
The insurance sector’s trade volume almost doubled to 2.16mn shares, value soared 54% to QR5.65mn and deals by 4% to 200.
The banks and financial services sector saw 36% surge in trade volume to 11.57 equities, 38% in value to QR35.71mn and 39% in transactions to 736.
The industrials sector’s trade volume shot up 25% to 38.59mn stocks, value by 61% to QR60.55mn and deals by 44% to 1,733.
The market witnessed 16% expansion in the telecom sector’s trade volume to 1.75mn shares but on 8% fall in value to QR3.39mn despite 89% higher transactions at 255.
The consumer goods and services sector’s trade volume was up 6% to 10.07mn equities, while value shrank 50% to QR17.75mn and deals by 7% to 441.
In the debt market, there was no trading of sovereign bonds and treasury bills.