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Qatar Stock Exchange on Sunday opened the week weak, amidst extremely shallow trading ahead of Ramadan, and its key index fell below the 9,700 levels, mainly on lower buying interests from Gulf and foreign institutions.
Selling pressure was seen more in the telecom, consumer goods, industrials and insurance counters as the 20-stock fell 0.42% to 9,675.66 points on declining trading turnover and volumes.
The Gulf individual investors’ marginally higher net selling was also visible in the market, which is down 7.23% year-to-date.
Selling was more pronounced in the large and midcap segments in the bourse, where industrials, banking and realty stocks together constituted about 73% of the total trading volume.
Market capitalisation fell 0.47% or more than QR2bn to QR524.21bn with large, mid, small and microcap equities losing 0.59%, 0.43%, 0.13% and 0.02% respectively.
The Total Return Index shed 0.42% to 15,654.58 points, All Share Index by 0.4% to 2,709.18 points and Al Rayan Islamic Index by 0.41% to 3,793.7 points.
Telecom stocks shrank 1.74%, consumer goods (0.78%), industrials (0.71%), insurance (0.49%), transport (0.21%) and banks and financial services (0.19%); whereas real estate was up 0.01%.
About 66% of the stocks were in the red with major losers being QNB, Qatar Islamic Bank, Industries Qatar, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Barwa, Mazaya Qatar, Ooredoo and Vodafone Qatar; whereas Commercial Bank, Doha Bank, Dlala, Ezdan and United Development Company bucked the trend.
The GCC (Gulf Cooperation Council) institutions’ net buying weakened to QR3.2mn against QR8.19mn last Thursday.
Non-Qatari institutions’ net buying declined to QR3.2mn compared to QR5.24mn the previous trading day.
The GCC individual investors’ net profit booking increased to QR0.52mn against QR0.46mn on May 26.
However, local retail investors’ net buying strengthened to QR3.08mn compared to QR0.28mn last Thursday.
Domestic institutions’ net selling weakened to QR6.97mn against QR10.1mn the previous trading day.
Non-Qatari individual investors’ net profit booking declined to QR1.99mn compared to QR3.19mn on May 26.
Total trade volume fell 59% to 1.96mn shares, value by 65% to QR64.68mn and deals by 55% to 1,512.
There was 74% plunge in the industrials sector’s trade volume to 0.54mn equities, 76% in value to QR21.27mn and 61% in transactions to 405.
The consumer goods sector’s trade volume plummeted 62% to 0.15mn stocks, value by 53% to QR8.47mn and deals by 47% to 154.
The transport sector reported 56% shrinkage in trade volume to 0.12mn shares, 56% in value to QR3.41mn and 55% in transactions to 98.
The telecom sector’s trade volume tanked 55% to 0.19mn equities, value by 73% to QR4.91mn and deals by 66% to 221.
The market witnessed 50% decline in the insurance sector’s trade volume to 0.06mn stocks, 44% in value to QR4.57mn and 53% in transactions to 57.
The banks and financial services sector’s trade volume shrank 40% to 0.53mn shares, value by 56% to QR15.53mn and deals by 46% to 387.
There was 35% fall in the real estate sector’s trade volume to 0.36mn equities, 43% in value to QR6.54mn and 47% in transactions to 190.
In the debt market, there was no trading of treasury bills and government bonds.
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