Strong selling – especially at the real estate, telecom and banking counters – on Sunday led the Qatar Stock Exchange to open the week weak and its key index retreated below 10,500 levels.
Domestic funds’ buying interests substantially weakened as the 20-stock Qatar Index fell 0.62%, or 65 points, in the second straight session to 10,447.27 points, amidst a flat course treaded by about 29% of the constituents.
Non-Qatari individuals continued to be net buyers but with lesser intensity in the market, whose key benchmark was up 1.44% year-to-date.
Market capitalisation saw about QR6bn, or 0.97%, decline to QR577.59bn mainly owing to large and microcap segments.
Islamic equities were seen declining slower than the other indices in the market, where local retail investors and foreign institutions’ net profit booking weakened.
Trade turnover and volumes were on the decline in the bourse, where the industrials, banking and real estate sectors together accounted for about 72% of the total volume.
The Total Return Index declined 0.62% to 19,223.87 points, the Al Rayan Islamic Index (Price) by 0.21% to 2,352.25 points and the All Share Index by 0.83% to 3,063.79 points.
The realty index tanked 1.5%, telecom (1.36%), banks and financial services (1.15%), industrials (0.3%), insurance (0.25%) and consumer goods (0.09%); while transport gained 0.31%.
Major losers include Ezdan, Ooredoo, QNB, Barwa, Qatar Oman Investment, Salam International Investment, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Aamal Company; even as Qatari German Company for Medical Devices, Qatar Industrial Manufacturing, Vodafone Qatar and Milaha made gains.
Domestic funds’ net buying declined substantially to QR8.72mn compared to QR78.69mn on September 19.
Non-Qatari individuals’ net buying fell noticeably to QR1.15mn against QR5.86mn the previous trading day.
However, Gulf funds turned net buyers to the tune of QR2.7mn compared with net sellers of QR5.44mn last Thursday.
Gulf individuals were also net buyers to the extent of QR0.59mn against net sellers of QR6.46mn on September 19.
Local retail investors’ net selling weakened considerably to QR12.12mn compared to QR63.82mn the previous trading day.
Non-Qatari institutions’ net profit booking shrank perceptibly to QR1.05mn against QR8.84mn last Thursday.
Total trade volume fell 64% to 69.21mn shares, value by 80% to QR168.62mn and transactions by 65% to 3,711.
The transport sector’s trade volume plummeted 86% to 4.43mn equities, value by 87% to QR20.99mn and deals by 77% to 294.
The insurance sector reported a 75% plunge in trade volume to 2.26mn stocks, 79% in value to QR6.35mn and 82% in transactions to 73.
The banks and financial services sector’s trade volume tanked 71% to 16.58mn shares, value by 84% to QR53.4mn and deals by 62% to 1,017.
The real estate sector saw a 63% shrinkage in trade volume to 10.75mn equities, 77% in value to QR9.6mn and 58% in transactions to 379.
The telecom sector’s trade volume shrank 63% to 3.53mn stocks, value by 72% to QR13.35mn and deals by 73% to 494.
There was a 55% contraction in the industrials sector’s trade volume to 22.42mn shares, 71% in value to QR48.14mn and 60% in transactions to 1,072.
However, the consumer goods sector’s trade volume soared 70% to 9.24mn equities, whereas value tumbled 72% to QR16.79mn and deals by 51% to 382.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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