The Qatar Stock Exchange yesterday opened the week weak despite strong buying interests from the domestic funds.
Notwithstanding the demand for the telecom equities, the 20-stock Qatar Index settled 67 points or 0.53% lower at 12,668.14 points, although it touched an intraday high of 12,740 points.
The Islamic index was seen gaining slower than the other indices in the market, whose year-to-date gains were at 8.97%.
More than 74% of the traded constituents were in the red in the bourse, whose capitalisation saw more than QR4bn or 0.59% decrease to QR719bn, mainly on the back of mid and small cap segments.
The local retail investors were seen net buyers, albeit at lower levels, in the market, where the industrials and consumer goods sectors together accounted for about 79% of the trading volume.
The foreign funds continued to be net buyers but with lesser intensity in the bourse, which saw a total of 32,782 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR333,119 changed hands across 12 deals.
The foreign retail investors were seen net profit takers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index shed 0.53% to 25,173.86 points, All Share Index by 0.61% to 3,978.36 points and Al Rayan Islamic Index (Price) by 0.52% to 2,824.9 points.
The consumer goods and services sector index declined 0.89%, banks and financial services (0.67%), industrials (0.59%), insurance (0.59%), real estate (0.52%) and transport (0.2%); while telecom gained 0.24%.
Major losers in the main market included Mannai Corporation, Gulf International Services, Al Khaleej Takaful, Qatari Investors Group, Inma Holding, Doha Bank, QIIB, Qatari German Medical Devices, Woqod, Qatar Insurance, Mazaya Qatar and Gulf Warehousing. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Investment Holding Group, Zad Holding, QLM, Doha Insurance and Qatar Islamic Insurance were among the gainers in the main market. In the juniour bourse, Mekdam Holding saw its shares appreciate in value.
The Gulf funds turned net sellers to the tune of QR16.26mn compared with net buyers of QR15.31mn on February 17.
The foreign individuals were net sellers to the extent of QR13.48mn against net buyers of QR3.53mn last Thursday.
The foreign institutions’ net buying fell significantly to QR1.96mn compared to QR175.48mn the previous day.
The Arab individuals’ net buying declined noticeably to QR1.73mn against QR3.76mn on February 17.
However, the domestic funds turned net buyers to the tune of QR24.34mn compared with net sellers of QR63.46mn last Thursday.
Qatari individuals were net buyers to the extent of QR1.43mn against net profit takers of QR134.89mn the previous trading day.
The Gulf individuals’ net buying strengthened marginally to QR0.27mn compared to QR0.17mn on February 17.
The Arab institutions had no major net exposure against net buyers of QR0.09mn last Thursday.
Total trade volume in the main market fell 28% to 190.91mn shares, value by 49% to QR434.04mn and transactions by 38% to 8,790.
The transport sector reported 80% plunge in trade volume to 1.15mn equities, 80% in value to QR4.65mn and 78% in deals to 129.
The banks and financial services sector’s volume plummeted 61% to 19.88mn stocks, value by 79% to QR90.81mn and transactions by 54% to 2,612.
There was 57% shrinkage in the telecom sector’s volume to 2mn shares, 44% in value to QR8.52n and 47% in deals to 501.
The real estate sector’s trade volume tanked 51% to 13.57mn equities, value by 55% to QR18.7mn and transactions by 36% to 651.
The market witnessed 27% contraction in the industrials sector’s trade volume to 95.64mn stocks, 15% in value to QR222.12mn and 19% in deals to 3,481.
However, the insurance sector’s trade volume soared 31% to 4.77mn shares, value by 45% to QR16.47mn and transactions by 16% to 331.
The consumer goods and services sector reported 28% surge in trade volume to 54.9mn equities but on 2% dip in value to QR72.77mn and 26% in deals to 1,085.
In the venture market, volumes more than doubled to 3.09mn stocks and value more than doubled to QR30.4mn on 51.71% increase in transactions to 977.