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Bearish overhang continued in the Qatar Stock Exchange and its key index settled marginally above the 11,200 mark, mainly reflecting the global factors as weakened oil price and expectations on the US interest rate hike.
Domestic institutions’ substantially increased net selling dragged the 20-stock Qatar Index 0.74% or 84 points to 11,213.85 points amidst jump in trading turnover and volumes.
Islamic stocks were seen declining slower than the conventional ones in the market, which is however up 7.52% year-to-date.
However, local retail investors as well as Gulf and foreign institutions were increasingly net buyers in the bourse, where telecom, industrials and banking stocks together constituted more than 72% of the total trading volume.
Market capitalisation shed 0.82% or about QR5bn to QR598.96bn as large, micro and midcap equities lost 0.86%, 0.59% and 0.56% respectively; while small caps rose 0.35%.
The Total Return Index fell 0.74% to 18,143.26 points, All Share Index by 0.63% to 3,080.7 points and Al Rayan Islamic Index by 0.37% to 4,233.19 points.
Telecom stocks shrank 2.22%, banks and financial services (0.98%), industrials and transport (0.74% each) and realty (0.17%); whereas insurance and consumer goods gained 1.01% and 0.34% respectively.
About 63% of the stocks were in the red with major losers being Ooredoo, Vodafone Qatar, QNB, Commercial Bank, Doha Bank, Qatar First Bank, Alijarah Holding, Industries Qatar, Aamal Company, Mazaya Qatar, United Development Company, Ezdan and Qatari German Company for Medical Devices; even as Gulf International Services, Barwa, Qatar Insurance and Qatar Islamic Bank bucked the trend.
Domestic institutions’ net selling increased perceptibly to QR41.96mn compared to QR11.1mn on August 21.
The GCC (Gulf Cooperation Council) individual investors’ net profit booking rose to QR1.23mn against QR0.07mn on Sunday.
However, non-Qatari institutions’ net buying strengthened to QR22.18mn compared to QR9.57mn the previous day.
The GCC institutions’ net buying also increased to QR3.77mn against QR1.48mn on August 21.
Local retail investors’ net buying soared to QR8.25mn compared to QR3.95mn on Sunday.
Non-Qatari individual investors turned net buyers to the tune of QR2.97mn against net sellers of QR3.81mn the previous day.
Total trade volume rose 60% to 5.19mn shares, more than doubling value to QR204.8mn on 54% jump in deals to 3,710.
The telecom sector’s trade volume almost quadrupled to 1.53mn equities and value more than doubled to QR39.63mn on more than doubled transactions to 844.
The consumer goods sector’s trade volume tripled to 0.33mn stocks and value more than doubled to QR15.2mn on 7% rise in deals to 232.
The transport sector’s trade volume more than doubled to 0.23mn shares and value almost quadrupled to QR11.21mn on more than doubled transactions to 203.
The industrials sector’s trade volume more than doubled to 1.36mn equities and value almost tripled to QR69.03mn on 56% spurt in deals to 948.
The insurance sector saw 25% surge in trade volume to 0.1mn stocks, 1% in value to QR6.58mn and 27% in transactions to 127.
The banks and financial services sector’s trade volume soared 15% to 0.85mn shares, value by 99% to QR46.83mn and deals by 53% to 879.
However, the market witnessed 33% plunge in the real estate sector’s trade volume to 0.79mn equities, 19% in value to QR16.31bn and 9% in transactions to 477.
In the debt market, there was no trading of treasury bills and government bonds.
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