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Qatar Stock Exchange on Sunday opened the week weak with its key index retreating below the 9,800 mark, mainly dragged by telecom, industrials and banking stocks.
Local and non-Qatari retail investors as well as Gulf institutions turned net sellers to drive the 20-stock down 0.44% to 9,794.02 points on lower trade turnover and volumes.
The Islamic stocks were seen declining slower than the conventional ones in the bourse, which is down 6.09% year-to-date.
However, domestic and foreign institutions as well as Gulf individuals turned marginally bullish in the market, where banking and telecom stocks together constituted more than 67% of the total trading volume.
Market capitalisation fell 0.62% or more than QR3bn to QR528.52bn as large, mid and microcap stocks lost 0.61%, 0.47% and 0.22% respectively; while small caps rose 0.17%.
The Total Return Index shed 0.44% to 15,846.07 points, All Share Index by 0.44% to 2,732.39 points and Al Rayan Islamic Index by 0.26% to 3,814.98 points.
Telecom stocks shrank 0.87%, industrials (0.75%), banks and financial services (0.7%), consumer goods (0.36%) and transport (0.32%); whereas insurance and realty gained 0.8% and 0.07% respectively.
About 59% of the stocks were in the red with major losers being QNB, Industries Qatar, Ooredoo, Vodafone Qatar, Mesaieed Petrochemical Holding, Qatar First Bank, Qatar Islamic Bank, Commercial Bank, Doha Bank, Commercial Bank and Alijarah Holding; while Qatar Insurance and Ezdan bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR1.4mn against net sellers of QR4.77mn the previous day.
Domestic institutions were also net buyers to the extent of QR1.29mn compared with net sellers of QR1.46mn last Thursday.
The GCC (Gulf Cooperation Council) individual investors turned net buyers to the tune of QR1.48mn against net sellers of QR3.12mn on June 9.
However, the GCC institutions turned net sellers to the extent of QR0.73mn compared with net buyers of QR4.58mn the previous day.
Local retail investors were also net profit takers to the tune of QR0.83mn against QR3.79mn last Thursday.
Non-Qatari individual investors turned net sellers to the extent of QR1.08mn compared with net buyers of QR0.96mn on June 9.
Total trade volume fell 47% to 2.6mn shares, value by 57% to QR73.24mn and deals by 45% to 1,254.
The consumer goods sector saw 76% plunge in trade volume to 0.15mn equities, 51% in value to QR7.3mn and 54% in transactions to 156.
The transport sector’s trade volume plummeted 65% to 0.06mn stocks, value by 49% to QR2.91mn and deals by 57% to 51.
There was 62% shrinkage in the industrials sector’s trade volume to 0.16mn shares, 64% in value to QR7.82mn and 52% in transactions to 208.
The banks and financial services sector’s trade volume tanked 55% to 0.93mn equities, value by 67% to QR31.21mn and deals by 48% to 396.
The real estate sector reported 51% decline in trade volume to 0.39mn stocks, 46% in value to QR7.21mn and 33% in transactions to 219.
The insurance sector’s trade volume shrank 33% to 0.1mn shares, value by 28% to QR7.38mn and deals by 43% to 47.
However, the market witnessed 22% surge in the telecom sector’s trade volume to 0.82mn equities but on 13% fall in value to QR9.42mn and 15% in transactions to 177.
In the debt market, there was no trading of treasury bills and government bonds.
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