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Qatar Stock Exchange on Sunday fell below the 11,300 mark on stronger profit booking in insurance, telecom and banking stocks.
Foreign and Gulf institutions’ buying support considerably weakened and there was increased net selling by non-Qatari individuals as the 20-stock Qatar Index fell 0.2% to 11,297.5 points on shallow trading turnover and volumes.
Islamic stocks were seen dropping slower than the conventional ones in the market, which is however up 8.32% year-to-date.
However, local retail investors turned bullish and net selling by domestic institutions slackened in the market, where real estate and banking stocks together constituted more than 59% of the total trading volume.
Market capitalisation fell 0.24% or more than QR1bn to QR603.92bn as large, micro, mid and small cap equities lost 0.51%, 0.41%, 0.39% and 0.1% respectively.
The Total Return Index was down 0.2% to 18,278.61 points, All Share Index by 0.24% to 3,100.34 points and Al Rayan Islamic Index by 0.08% to 4,249.04 points.
Insurance stocks shrank 1.24%, telecom (0.81%), banks and financial services (0.61%), consumer goods (0.37%) and transport (0.3%); whereas real estate and industrials rose 0.76% and 0.1% respectively.
About 72% of the stocks were in the red with major losers being Qatar Insurance, Ooredoo, Commercial Bank, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, al khaliji, Industries Qatar, Barwa, United Development Company and Nakilat; even as Aamal Company, Gulf International Services, Ezdan, Mazaya Qatar and Qatari Investors Group bucked the trend.
Non-Qatari institutions’ net buying weakened considerably to QR9.57mn compared to QR55.57mn last Thursday.
The GCC (Gulf Cooperation Council) institutions’ net buying also declined to QR1.48mn against QR26.41mn on August 18.
Non-Qatari individual investors’ net profit booking rose to QR3.81mn compared to QR1.54mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR3.95mn against net sellers of QR32.32mn last Thursday.
Domestic institutions’ net selling declined perceptibly to QR11.1mn compared to QR47.6mn on August 18.
The GCC individual investors’ net profit booking declined to QR0.07mn against QR0.53mn the previous trading day.
Total trade volume fell 51% to 3.24mn shares, value by 64% to QR96.54mn and deals by 54% to 2,414.
There was 80% plunge in the transport sector’s trade volume to 0.09mn equities, 83% in value to QR2.85mn and 78% in transactions to 98.
The insurance sector’s trade volume plummeted 64% to 0.08mn stocks, value by 67% to QR6.5mn and deals by 51% to 100.
The telecom sector reported 63% shrinkage in trade volume to 0.4mn shares, 50% in value to QR15.36mn and 59% in transactions to 295.
The consumer goods sector’s trade volume tanked 59% to 0.11mn equities, value by 48% to QR6.58mn and deals by 36% to 217.
The banks and financial services sector saw 56% decline in trade volume to 0.74mn stocks, 74% in value to QR23.5mn and 62% in transactions to 575.
The industrials sector’s trade volume shrank 47% to 0.65mn shares, value by 64% to QR21.65mn and deals by 48% to 606.
The market witnessed 32% fall in the real estate sector’s trade volume to 1.18mn equities, 44% in value to QR20.09bn and 36% in transactions to 523.
In the debt market, there was no trading of treasury bills and government bonds.
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