The Qatar Stock Exchange on Tuesday retreated below 10,400 levels, mainly dragged by increased selling pressure from local retail investors and bearish outlook of non-Qatari individuals.
Industrials, telecom, insurance, real estate and consumer goods counters witnessed higher than average selling pressure, leading the 20-stock Qatar Index settle 0.18% lower at 10,382.18 points.
Domestic institutions weakened net buying interests also had its role in dampening the market, whose sensitive index is up 0.81% year-to-date.
Market capitalisation was down QR2mn to QR582.84bn mainly owing to microcap segments.
Islamic equities were seen declining faster than the main index in the market, where foreign institutions turned bullish and there was increased net buying from Gulf funds.
Trade turnover and volumes were on the increase in the bourse, where banking and industrials sectors together accounted for more than 72% of the total volume.
The Total Return Index was down 0.18% to 19,104.1 points and Al Rayan Islamic Index (Price) by 0.94% to 2,390.67 points, while All Share Index was up 0.02% to 3,167.13 points.
The industrials index declined 2.05%, telecom (1.32%), insurance (0.78%), real estate (0.61%) and consumer goods (0.28%); whereas transport gained 1.81% and banks and financial services 1.08%.
About 70% of the traded constituents were in the red with major losers being Industries Qatar, Al Khaleej Takaful, Mesaieed Petrochemical Holding, Aamal Company, Qatari Investors Group, Vodafone Qatar, Doha Bank, Qatar First Bank and al khaliji; even as QNB, Nakilat and Gulf Warehousing were among the prime gainers.
Local retail investors’ net profit booking increased significantly to QR62.92mn against QR9.62mn on April 22.
Non-Qatari individuals turned net sellers to the tune of QR4.07mn compared with net buyers of QR1.16mn on Monday.
Domestic institutions’ net buying declined noticeably to QR11.53mn against QR13mn the previous day.
However, non-Qatari institutions were net buyers to the extent of QR29.08mn compared with net sellers of QR14.71mn on April 22.
The Gulf institutions’ net buying increased considerably to QR26.49mn against QR11.95mn on Monday.
The Gulf individuals’ net profit booking weakened marginally to QR0.13mn compared to QR1.81mn the previous day.
Total trade volume rose 6% to 10.3mn shares, value by 30% to QR264.35mn and transactions by 13% to 4,627.
The insurance sector’s trade volume more than quadrupled to 0.36mn equities and value tripled to QR6.79mn on 88% increase in deals to 227.
The transport sector’s trade volume quadrupled to 0.36mn stocks and value more than tripled to QR8.97mn on almost tripled transactions to 234.
The banks and financial services sector saw 49% surge in trade volume to 4.91mn shares, 50% in value to QR136.62mn and 72% in deals to 1,553.
However, the consumer goods sector’s trade volume plummeted 41% to 0.23mn equities, value by 63% to QR9.21mn and transactions by 20% to 284.
The realty sector reported 31% plunge in trade volume to 0.75mn stocks, 33% in value to QR10.44mn and 15% in deals to 469.
The industrials sector’s trade volume tanked 29% to 2.52mn shares, while value expanded 42% to QR78.37mn despite 16% lower transactions at 1,561.
There was 6% fall in the telecom sector’s trade volume to 1.16mn equities but on 31% jump in value to QR13.95mn and 34% in deals to 299.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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