The Qatar Stock Exchange on Wednesday reopened after Eid holidays with a 216 points decline to settle below 9,000 points and the capitalisation eroded about QR13bn.
Selling pressure was seen more pronounced within insurance, transport and banking counters as the 20-stock Qatar Index plunged 2.37% to 8,881.85 points.
Masraf Al Rayan and Doha Bank-sponsored exchange traded funds QATR and QETF witnessed 1.23% and 1.46% declines respectively.
Islamic stocks were seen declining slower than the main index on the market, which is, however, up 4.21% year-to-date.
Domestic and foreign institutions were seen net sellers on the bourse, whose capitalisation tanked 2.51% to QR487bn mainly due to small and midcap stocks.
Trade turnover and volumes were on the decline on the market, where banking and real estate sectors together accounted for about 66% of the total volume.
The Total Return Index shrank 2.37% to 15,648.84 points, All Share Index by 2.4% to 2,587.61 points and Al Rayan Islamic Index (Price) by 1.36% to 2,181.61 points.
The insurance index plummeted 4.44%, transport (3.32%), banks and financial services (3.25%), telecom (2.3%), industrials (1.61%) and realty (0.71%); whereas consumer goods gained 0.38%.More than 78% of the stocks were in the red with major shakers being Qatar Insurance, QNB, Nakilat, Milaha, Commercial Bank, Qatar Islamic Bank, Doha Bank, Qatar Electricity and Water, Ooredoo, Vodafone Qatar and Industries Qatar; even as Barwa, United Development Company, Zad Holding and Islamic Holding Group were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR19.52mn against net buyers of QR779.99mn on June 14.
Non-Qatari individual investors’ net buying weakened perceptibly to QR5.47mn compared to QR9.43mn last Thursday.
The Gulf individuals’ net buying also declined marginally to QR0.31mn against QR0.74mn the previous trading day.
However, local individuals turned net buyers to the extent of QR41.49mn compared with net sellers of QR219.7mn on June 14.
The Gulf institutions turned net buyers to the tune of QR3.66mn against net sellers of QR8.69mn last Thursday.
Domestic institutions’ net profit booking fell significantly to QR31.41mn compared to QR561.78mn the previous trading day.
Total trade volume fell 77% to 7.55mn shares, value by 84% to QR393.61mn and transactions by 37% at 5,779.
The telecom sector’s trade volume plummeted 93% to 0.36mn equities, value by 81% to QR13.88mn and deals by 40% to 458.
The banks and financial services sector saw 79% plunge in trade volume to 3.16mn stocks, 87% in value to QR240.49mn and 45% in transactions to 2,263.
The transport sector’s trade volume tanked 78% to 0.99mn shares, also by 77% to QR20.03mn and deals by 50% to 438.
The industrials sector reported 78% shrinkage in trade volume to 0.85mn equities, 78% in value to QR74.26mn and 43% in transactions to 1,181.
The consumer goods sector’s trade volume declined 5% to 0.13mn stocks and value by 46% to QR13.33mn, while deals were up 2% to 271.
There was 36% dip in the real estate sector’s trade volume to 1.8mn shares, 46% in value to QR22.23mn and 5% in transactions to 849.
The market witnessed 32% slump in the insurance sector’s trade volume to 0.26mn equities and 34% in value to QR9.4mn but on 39% increase in deals to 319.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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