By Santhosh V Perumal/Business Reporter

The Qatar Exchange yesterday retreated below the 11,700 levels mainly on profit-booking in the telecom and banking stocks.

Selling pressure was seen stronger among local retail investors as the 20-stock Qatar Index (based on price data) fell 0.29% to 11,690.49 points.

The index that tracks Shariah-principled stocks was in a better position as its fall was slower than the other major indices in the market, which is up 12.63% year-to-date.

The 20-stock Total Return Index fell 0.29% to 16,798.44 points, the All Share Index (with wider constituents) by 0.17% to 2,907.25 and the Al Rayan Islamic Index by 0.14% to 3,357.49 points.

All the three indices factored in dividend income as well.

Telecom stocks plunged 1.01%, followed by banks and financial services (0.37%) and industrials (0.08%); whereas insurance gained 0.91%, real estate (0.38%), transport (0.25%) and consumer goods (0.24%).

Influential losers included Vodafone Qatar, Qatar Islamic Bank, Masraf Al Rayan, Industries Qatar, Ooredoo, Al Meera, Nakilat, Doha Insurance and Qatar Islamic Insurance.

However, QNB, Doha Bank, Qatari Investors Group, United Development Company, Barwa, Mazaya Qatar and Milaha bucked the trend.

Market capitalisation fell 0.17%, or more than QR1bn, to QR613.26bn. Large cap equities lost 0.38%, followed by small caps (0.31%) and micro caps (0.22%), while mid caps rose by a marginal 0.09%.

Qatari retail investors turned net sellers to the extent of QR33.87mn against net buyers of QR18.45mn on Sunday.

Non-Qatari individual investors’ net selling stood at QR9.36mn compared to QR11.75mn the previous day.

Domestic institutions turned net buyers to the tune of QR7.64mn against net sellers of QR12.16mn on Sunday.

Foreign institutions’ net buying amounted to QR35.52mn compared to QR5.57mn the previous day.

Total trading volume fell 12% to 14.02mn stocks, value by 41% to QR611.44mn and transactions by 26% to 5,513.

The industrials sector’s trading volume plummeted 79% to 0.52mn equities, value by 82% to QR81.04mn and deals by 55% to 1,063.

The transport sector witnessed a 46% plunge in trading volume to 0.57mn shares, 29% in value to QR36.6mn and 7% in transactions to 358.

The banks and financial services sector reported a 27% shrinkage in trading volume to 2.52mn stocks, 36% in value to QR133.97mn and 30% in deals to 1,483.

The telecom sector’s trading volume tanked 25% to 2.68mn equities, value by 53% to QR50.47mn and transactions by 37% to 397.

The market witnessed a 13% fall in insurance sector’s trading volume to 0.28mn shares, 35% in value to QR12.66mn and 57% in deals to 98.

However, the real estate sector’s trading volume zoomed 53% to 5.12mn stocks, value by 50% to QR137.29mn and transactions by 10% to 758.

There was a 30% surge in consumer goods sector’s trading volume to 2.33mn equities, 47% in value to QR159.41mn and 26% in deals to 1,356.

MPHC listing on February 26

Mesaieed Petrochemical Holding Company (MPHC), which recently concluded its successful QR3.23bn initial public offer (IPO), will be listed at the Qatar Exchange on February 26.

The decision to list MPHC, a Qatar Petroleum subsidiary, under the industrial sector, came after the company obtained approval from the Qatar Financial Markets Authority and fulfilled and complied with necessary listing requirements.

With the listing of MPHC, the number of listed companies on the QE will go up to 43. The industrial sector will have nine constituents after MPHC listing.

“As usual, price floatation for MPHC will be permitted only for the first day of listing. However; price fluctuation on the second day and thereafter will be permitted by 10% up/down as the case for all other listed companies,” a bourse spokesman said, adding on first day of trading, the standard procedures for IPOs will apply.

Brokerage companies will be permitted to enter any buy/sell orders for MPHC shares in the pre-open session at 8:30 am on the listing day. The pre-opening session for all other listed companies will remain as business usual at 9:00 am.

The Qatar Central Securities Depository (QCSD) said about 199,000 shareholders of MPHC have been registered with it and QCSD has provided the brokerage firms with special systems allowing them to know the shareholders numbers and the number of shares allocated to them in order to facilitate trading process.

The data will become available at the brokerage firms effective Sunday, February 23, 2014, so investors will be able to submit their buy/sell orders directly to the brokers as of that date.