The Qatar Stock Exchange on Monday reopened after the Eid al-Fitr holidays, but on a weakened note and its key barometer fell below 10,800 levels, despite strong buying interests from the domestic funds and the local retail investors.
An across the board selling, especially in the industrial and transport counters, led the 20-stock Qatar Index knock off 132 points, or 1.21%, to 10,793.47 points, having hit an intraday high of 10,925 points.
The foreign institutions were seen heavily into net selling in the bourse, which however returned year-to-date gains of 3.43%.
About 62% of the traded constituents were in the red in the market, whose capitalisation saw about QR6bn, or 0.94%, decrease to QR627.92bn, mainly owing to large cap segments.
The Islamic index was seen declining slower than the other indices in the market, which saw the industrials and consumer goods sectors together constituted about 65% of the total trading volume.
The overall trade volumes and turnover were on the increase in the bourse, where the Arab individuals and the Gulf funds were increasingly net buyers.
The foreign individuals were seen net profit takers in the market, which saw a total of 156,589 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR800,279 changed hands across 24 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index tanked 1.21% to 21,366.33 points, the Al Rayan Islamic Index (Price) by 0.77% to 2,515.7 points and the All Share Index by 1% to 3,425.17 points.
The industrials index plummeted 2.48%, transport (1.27%), telecom (1.02%), consumer goods and services (0.96%), insurance (0.95%), real estate (0.43%) and banks and financial services (0.43%).
Major losers included Industries Qatar, Ooredoo, Qatar Electricity and Water, Qatar General Insurance and Reinsurance, Nakilat, QIIB, Woqod, Mannai Corporation, Qatar Insurance, QLM, Milaha and United Development Company; even as Qatari Investors Group, Qamco, Qatar Oman Investment, Ezdan, Commercial Bank and Salam International Investment were among the gainers.
Foreign institutions turned net sellers to the tune of QR119.73mn against net buyers of QR4.43mn on May 11.
Foreign individuals were net sellers to the extent of QR0.59mn compared with net buyers of QR4.12mn the previous day.
The Arab institutions turned net profit takers to the tune of QR0.14mn against no major net exposure last Tuesday.
However, the domestic funds were net buyers to the extent of QR49.43mn compared with net sellers of QR36.34mn on May 11.
Local retail investors’ net buying increased substantially to QR42.23mn against QR25.82mn the previous day.
The Arab individuals’ net buying expanded considerably to QR13.67mn compared to QR1.05mn last Tuesday.
The Gulf institutions’ net buying strengthened notably to QR9.11mn against QR3.14mn on May 11.
The Gulf individuals were net buyers to the tune of QR5.98mn compared with net sellers of QR1.71mn the previous day.
Total trade volume rose 9% to 164.66mn shares, value by 40% to QR489.89mn and transactions by 78% to 13,450.
The telecom sector’s trade volume more than tripled to 2.27mn equities, value more than doubled to QR12.08mn on more-than-doubled deals to 645.
The transport sector’s trade volume more than doubled to 2.94mn stocks and value almost doubled to QR10.23mn on a 72% increase in transactions to 474.
The market witnessed a 20% surge in the industrials sector’s trade volume to 74.87mn shares, more than doubling value and deals to QR233.25mn and 5,985 respectively.
The real estate sector’s trade volume shot up 20% to 24.89mn equities, value by 48% to QR39.69mn and transactions by 33% to 861.
There was a 1% increase in the consumer goods and services sector’s trade volume to 32.13mn stocks and 9% in value to QR47.58mn but on a 4% decline in deals to 1,066.
However, the insurance sector’s trade volume plummeted 23% to 3.8mn shares, value by 26% to QR13.31mn and transactions by 23% to 348.
The banks and financial services sector saw a 21% plunge in trade volume to 23.07mn equities and 2% in value to QR133.75mn but on 89% jump in deals to 4,071.