The Qatar Stock Exchange on Monday witnessed strong buying, especially in the real estate and transport counters; yet it settled 20 points lower amidst volatile trade.
The Arab individuals’ bearish outlook and increased net selling by foreign institutions drove the 20-stock Qatar Index down 0.22% to 8,668.06 points.
Domestic institutions continued to be net buyers but with lesser vigour on the bourse, whose year-to-date losses were at 16.86%.
Market capitalisation saw QR3mn or 0.01% dip to QR490.31bn mainly owing to microcap segments.
Islamic stocks were seen gaining vis-à-vis declines in the other indices in the market, where foreign and local retail investors turned bullish.
Trade turnover and volumes were on the increase on the market, where the industrials, real estate and banking sectors together accounted for more than 78% of the total trading volume.
The Total Return Index declined 0.22% to 16,664.06 points and All Share Index by 0.19% to 2,695.03 points; while Al Rayan Islamic Index (Price) was up 0.1% to 1,905.07 points.
The telecom index shrank 0.89%, industrials (0.72%), insurance (0.68%) and banks and financial services (0.56%); whereas realty and transport shot up 3.73% and 2.91% respectively. The consumer goods and services was rather flat.
More than 52% of the traded constituents were in the red with major losers being Industries Qatar, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar, Commercial Bank, Qatar Oman Investment, Dlala and QNB.
Nevertheless, Aamal Company, Qatari Investors Group, Gulf International Services, Qamco, Ezdan, United Development Company, Barwa, Nakilat, Baladna, Alijarah Holding, Qatar German Company for Medical Devices, Mannai Corporation and Qatar First Bank were among the gainers.
Foreign institutions’ net selling increased substantially to QR33.85mn against QR3.59mn the previous day.
The Arab individuals turned net sellers to the tune of QR3.11mn compared with net buyers of QR0.68mn on Sunday.
The Gulf individuals’ net profit booking grew marginally to QR1.05mn against QR0.17mn on May 3.
Domestic funds’ net buying declined perceptibly to QR24.05mn compared to QR33.36mn the previous day.
However, foreign individuals turned net buyers to the tune of QR8.84mn against net sellers of QR0.32mn on Sunday.
The Gulf funds’ net buying increased marginally to QR3.79mn compared to QR2.39mn on May 3.
Local retail investors turned net buyers to the extent of QR1.25mn against net sellers of QR32.53mn the previous day.
The Arab institutions had no major exposure compared with net buyers of QR0.2mn on Sunday.
Total trade volumes rose 47% to 275.3mn shares, value by 65% to QR403.47mn and transactions by 79% to 11,576.
The transport sector’s trade volume grew almost seven-fold to 21.29mn equities and value by almost six-fold to QR56.62mn on almost tripled deals to 1,297.
The banks and financial services sector’s trade volume soared 86% to 60.22mn stocks and value more than doubled to QR132.62mn and transactions almost tripled to 4,258.
There was 66% surge in the industrials sector’s trade volume to 78.75mn shares, 71% in value to QR74.43mn and 83% in deals to 2,115.
The real estate sector’s trade volume shot up 60% to 76.76mn equities, value by 57% to QR76.05mn and transactions by 43% to 1,547.
The telecom sector reported 42% expansion in trade volume to 4.1mn stocks, 51% in value to QR18.01mn and 21% in deals to 955.
However, the insurance sector’s trade volume plummeted 59% to 3.3mn shares, value by 58% to QR6.68mn and transactions by 10% to 324.
The consumer goods and services sector saw 33% plunge in trade volume to 30.88mn equities, 36% in value to QR39.06mn and 2% in deals to 1,080.
In the debt market, there was no trading of sovereign bonds and treasury bills.