Industrials and telecom equities on Sunday extended the bearish spell on the Qatar Stock Exchange to the second straight session as its key index fell below 10,500 levels.
Domestic institutions turned net profit takers and there was weakened buying interests from foreign funds as the 20-stock Qatar Index settled 0.34% lower at 10,479.63 points.
However, the selling pressure from local and the Gulf retail investors as well as the Gulf funds were on the decline in the market, whose key benchmark is up 1.75% year-to-date.
Market capitalisation, however, rose 0.13%, or QR78mn, to QR578.6bn mainly owing to small and midcap segments.
Islamic equities were seen declining faster than the other indices in the market, where non-Qatari individuals continued to be net sellers but with lesser intensity.
Trade turnover and volume were on the decline in the bourse, where the banking sector alone accounted for about 71% of the total volume.
The Total Return Index declined 0.34% to 19,283.41 points and the Al Rayan Islamic Index (Price) by 0.54% to 2,388.03 points, while the All Share Index was up 0.06% to 3,100.65 points.
The industrials index shrank 1.07%, telecom (0.7%), consumer goods (0.32%) and transport (0.01%); whereas banks and financial services gained 0.59%, realty (0.4%) and insurance (0.1%).
About 49% of the traded stocks were in the red with major losers being Gulf International Services, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Commercial Bank, Ooredoo, Milaha and Nakilat; even as QNB, Industries Qatar, Dlala, Qatari German Company for Medical Devices, Al Khaleej Takaful and Gulf Warehousing were among the prime gainers.
Domestic institutions turned net sellers to the tune of QR2.96mn compared with net buyers of QR10.48mn last Thursday.
Non-Qatari institutions’ net buying weakened significantly to QR22.28mn against QR50.92mn the previous trading day.
However, local retail investors’ net profit booking declined influentially to QR16.96mn compared to QR55.92mn on June 13.
Gulf individual investors’ net selling declined noticeably to QR1.05mn against QR1.38mn last Thursday.
Gulf institutions’ net selling also decreased perceptibly to QR0.92mn compared to QR3.12mn the previous trading day.
Non-Qatari individual investors’ net profit booking fell marginally to QR0.37mn against QR0.95mn on June 13.
Total trade volume fell 8% to 18.31mn shares, value by 60% to QR130.88mn and transactions by 55% to 3,449.
The telecom sector’s trade volume plummeted 37% to 0.34mn equities, value by 63% to QR6.57mn and deals by 63% to 252.
The real estate sector reported a 30% plunge in trade volume to 1.91mn stocks, 43% in value to QR15.12mn and 52% in transactions to 373.
The industrials sector’s trade volume tanked 28% to 1.3mn shares, value by 56% to QR27.28mn and deals by 55% to 944.
The banks and financial services sector saw a 2% dip in trade volume to 13mn equities, 64% in value to QR53.95mn and 49% in transactions to 1,216.
However, the consumer goods sector’s trade volume grew 7% to 1.43mn stocks, whereas value declined 70% to QR18.9mn and deals by 65% to 437.
There was a 6% jump in the transport sector’s trade volume to 0.18mn shares and 21% in value to QR5.05mn but on a 16% fall in transactions to 149.
Although the insurance sector’s trade volume was flat at 0.15mn equities, the sector’s value shrank 11% to QR4mn and deals by 60% to 78.
In the debt market, there was no trading of treasury bills and sovereign bonds.