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By Santhosh V. Perumal/Business Reporter
Qatar Stock Exchange, which for the first time witnessed selling of rights in a rights issue on Sunday, opened the week on a weak note on selling pressure in the telecom, realty and banking counters.
Foreign and Gulf institutions as well as non-Qatari individual investors’ net buying weakened as the 20-stock Qatar Index fell by a marginal 0.1% or 12 points to 11,760.16 points amid increasing overall trade volumes.
Large cap equities witnessed profit booking in the market, which is down 4.28% year-to-date.
Nevertheless, local retail investors were increasingly bullish in the bourse, where trading was largely skewed towards the real estate and industrials sectors, which together constituted about 77% of the volume.
Market capitalisation was up 0.01% or QR7mn to QR617.99bn with micro, small and mid cap equities gaining 0.71%, 0.61% and 0.53% respectively; even as large caps fell 0.21%.
The Total Return Index was down 0.1% to 18,279.49 points, while All Share Index was up 0.01% to 3,130.01 points and Al Rayan Islamic Index by 0.29% to 4,481.92 points.
Telecom stocks shrank 0.69%, realty (0.18%), banks and financials services (0.16%) and industrials (0.07%); whereas consumer goods, insurance and transport gained 1.48%, 0.99% and 0.21% respectively.
Major losers included Dlala, Alijarah Holding, Gulf International Services, Ezdan, Ooredoo, Qatar National Cement, Qatar Islamic Bank and Commercial Bank; while Aamal Company, Mazaya Qatar, Barwa, United Development Company, Vodafone Qatar, Industries Qatar, Salam International Investment and Qatar Electricity and Water bucked the trend.
Non-Qatari institutions’ net buying declined to QR1.72mn compared to QR13.68mn the previous trading day.
The Gulf Cooperation Council (GCC) institutions’ net buying shrank to QR0.6mn against QR5.78mn last Thursday.
Non-Qatari individual investors’ net buying weakened to QR8.31mn compared to QR8.74mn on October 15.
However, local retail investors’ net buying strengthened to QR33.73mn against QR24.89mn the previous day.
The GCC individual investors turned net buyers to the tune of QR2.09mn compared with net sellers of QR3.47mn last Thursday.
Domestic institutions’ net profit booking weakened to QR46.39mn against QR49.64mn on October 15.
Total trade volume rose 49% to 12.66mn shares and value by 15% to QR301.07mn (excluding rights to subscribe in the rights issue), while deals were down 10% to 3,532.
The consumer goods sector’s trade volume grew almost seven-fold to 0.75mn equities and value almost tripled to QR20.66mn on more than doubled transactions to 357.
The industrials sector’s trade volume more than doubled to 1.15mn stocks and value almost doubled to QR63.92mn but on 9% fall in deals to 806.
The real estate sector saw 95% surge in trade volume to 8.2mn shares, 76% in value to QR145.79mn and 38% in transactions to 1,217.
However, the transport sector’ trade volume plummeted 44% to 0.23mn equities, while value was up 3% to QR10.35mn. Deals were down 12% to 183.
There was 44% plunge in the insurance sector’s trade volume to 0.05mn stocks, 33% in value to QR4.03mn and 38% in transactions to 35.
The banks and financial services sector reported 42% decline in trade volume to 0.74mn shares, 64% in value to QR30.62mn and 55% in deals to 546.
The telecom sector’s trade volume tanked 19% to QR1.54mn equities, value by 33% to QR25.7mn and transactions by 28% to 388.
In the debt market, there was no trading of treasury bills and government bonds.
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