The Qatar Stock Exchange yesterday reopened after a week-long holidays on a weaker note, mainly dragged by the industrials and telecom sectors.
Foreign funds’ net buying weakened substantially as the 20-stock Qatar Index settled 0.26% lower at 13,555.01 points, although it touched an intraday high of 13,705 points.
The Islamic index was seen declining slower than the other indices in the market, which was up 16.59% year-to-date.
The domestic funds continued to be net sellers but with lesser vigour in the bourse, whose capitalisation eroded about QR5bn or 0.65% to QR755.8bn, mainly on the back of midcap segments.
The local individuals also continued to be net profit takers but with lesser intensity in the market, where the consumer goods and realty sectors together accounted for about 62% of the trading volume.
The Arab individuals were seen net sellers in the bourse, which saw a total of 372,641 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.4mn changed hands across 15 deals.
The Gulf individuals’ bearish grip was seen slackening in the market, which saw no trading of sovereign bonds.
Total trade value and volumes were on the decrease in the bourse, which saw no trading of treasury bills.
The Total Return Index fell 0.26% to 27,765.06 points, the All Share Index by 0.36% to 4,348.86 points and the Al Rayan Islamic Index (Price) by 0.23% to 2,895.08 points.
The industrials sector index tanked 1.88%, telecom (1.77%) and real estate (0.21%); while consumer goods and services gained 0.43%, insurance (0.18%), banks and financial services (0.13%) and transport (0.05%).
Major losers in the main market included Qamco, Industries Qatar, Ooredoo, Salam International Investment, Qatar Islamic Insurance, QNB, Qatari German Medical Devices, Qatar Industrial Manufacturing and Mesaieed Petrochemical Holding.
In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, QLM, Qatar Cinema and Film Distribution, Mazaya Qatar, Gulf International Services, Al Khaleej Takaful, Masraf Al Rayan, Alijarah Holding, Baladna and Qatar Electricity and Water.
The Arab individuals turned net sellers to the tune of QR0.64mn compared with net buyers of QR2.09mn on April 28.
The foreign funds’ net buying decreased substantially to QR80.09mn against QR245.42mn the previous trading day.
However, the Gulf individuals turned net buyers to the extent of QR1.21mn compared with net sellers of QR1.96mn on April 28.
The Arab institutions were net buyers to the tune of QR0.2mn against net sellers of QR0.06mn the previous trading day.
The domestic funds’ net profit booking shrank drastically to QR55.46mn compared to QR170.79mn on April 28.
The Gulf funds’ net selling declined considerably to QR0.9mn against QR28.18mn the previous day.
Qatari individuals’ net profit booking weakened noticeably to QR24.29mn compared to QR37.88mn on April 28.
The foreign individuals’ net selling fell perceptibly to QR0.21mn against QR13.22mn the previous trading day.
Total trade volume in the main market fell 22% to 210.75mn shares, value by 46% to QR566.33mn and transactions by 44% to 12,773.
The telecom sector’s trade volume plummeted 80% to 2.34mn equities, value by 86% to QR6.89mn and deals by 86% to 265.
The transport sector reported a 76% plunge in trade volume to 1.33mn stocks, 76% in value to QR5.14mn and 80% in transactions to 118.
The consumer goods and services sector’s trade volume tanked 54% to 31.25mn shares, value by 65% to QR39.26mn and deals by 65% to 848.
The banks and financial services sector saw a 47% shrinkage in trade volume to 38.16mn equities, 57% in value to QR234.47mn and 50% in transactions to 5,723.
The industrials sector’s trade volume was down 1% to 83.11mn stocks, value by 25% to QR212.7mn and deals by 16% to 4,126.
However, the insurance sector’s trade volume more than doubled to 7mn shares and value also more than doubled to QR19.05mn tripled transactions to 672.
The real estate sector’s trade volume more than doubled to 47.56mn equities and value soared 30% to QR48.82mn but on 15% lower deals at 1,021.
The venture market witnessed 83.33% contraction in trade volumes to 0.04mn stocks, 82.95% in value to QR0.3mn and 54.79% in transactions to 33.
