The Qatar Stock Exchange on Sunday opened the week weak mainly owing to profit-booking pressure at the insurance, telecom, banking and real estate counters.
The increased selling pressure from domestic institutions and the bearish grip of the Gulf individuals were visible in the bourse, whose 20-stock Qatar Index settled marginally lower (0.04%) at 10,653.57 points.
The weakened buying interests from foreign funds also had its role in dampening the market, whose sensitive index has settled 3.44% year-to-date.
Market capitalisation declined more than QR1bn, or 0.22%, to QR610.14bn mainly owing to micro and small cap segments.
Islamic equities were, however, seen making wee gains vis-a-vis declines in the other indices in the market, where local retail investors were decreasingly profit takers.
Trade turnover and volumes were on the decline in the bourse, where the industrials, banking and real estate sectors together accounted for more than 83% of the total volume.
The Total Return Index was down 0.04% to 18,770.41 points and the All Share Index by 0.2% to 3,210.13 points, while the Al Rayan Islamic Index (Price) was up 0.02% to 2,491.52 points.
The insurance index shrank 0.72%, telecom (0.58%), banks and financial services (0.32%) and realty (0.31%); while consumer goods increased 0.39%, transport (0.18%) and industrials (0.09%).
Major losers included Commercial Bank, Qatar First Bank, QNB, Qatari Investors Group, Mesaieed Petrochemical Holding, Gulf International Services, Doha Insurance, Mazaya Qatar, Ezdan, Ooredoo, Vodafone Qatar and Nakilat; even as Alijarah Holding, Qatari German Company for Medical Devices, Salam International Investment, Widam Food, Qatar Islamic Insurance and Milaha were among the gainers.
Non-Qatari institutions’ net buying declined considerably to QR54.3mn compared to QR76.71mn on January 10.
Domestic funds’ net profit-booking increased substantially to QR12.06mn against QR0.84mn the previous day.
Gulf individuals turned net sellers to the tune of QR0.09mn against net buyers of QR0.24mn last Thursday.
However, local individuals’ net selling weakened significantly to QR34.02mn compared to QR61.61mn on January 10.
Gulf institutions’ net profit-booking eased perceptibly to QR6.83mn against QR11.52mn the previous day.
Non-Qatari individuals’ net selling fell influentially to QR1.31mn compared to QR2.99mn last Thursday.
Total trade volume fell 15% to 9.27mn shares, value by 34% to QR229.22mn and transactions by 23% to 5,686.
There was a 72% plunge in the insurance sector’s trade volume to 0.19mn equities, 72% in value to QR6.81mn and 64% in deals to 131.
The real estate sector’s trade volume plummeted 44% to 1.27mn stocks, value by 48% to QR20.92mn and transactions by 32% to 675.
The transport sector reported a 39% shrinkage in trade volume to 0.19mn shares, 51% in value to QR4.33mn and 32% in deals to 222.
The banks and financial services sector’s trade volume was down 9% to 2.95mn equities, valued by 39% to QR75.29mn and transactions by 47% to 1,004.
The consumer goods sector saw a 2% fall in trade volume to 0.43mn stocks, 58% in value to QR17.14mn and 25% in deals to 411.
However, the telecom sector’s trade volume soared 55% to 0.73mn shares, value by 71% to QR22.84mn and transactions by 2% to 472.
Although the industrials sector’s trade volume was flat at 3.51mn equities, the market witnessed a 16% decline in value to QR81.89mn and less than 1% in deals to 2,771.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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