Continued selling pressure from domestic institutions yesterday dragged the Qatar Index by 0.21% to 13,076.33 points
By Santhosh V Perumal/Business Reporter
The Qatar Stock Exchange witnessed profit-booking for the second day yesterday, mainly dragged by micro and large cap equities; but its key index remained over the 13,000 mark.
Continued net selling pressure from domestic institutions apparently dragged the 20-stock Qatar Index (based on price data) by 0.21% to 13,076.33 points.
Industrials stocks were mainly instrumental in imparting the bearish momentum to the market, which is up 25.98% year-to-date.
The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the market, where trading volumes were on the decline.
Foreign institutions were, however, seen bullish in the bourse, where trading volumes were largely skewed towards real estate and banking stocks. Market capitalisation was up 0.01%, or QR5mn, to QR695.56bn. Small and mid cap equities gained 0.86% and 0.39%; while micro and large fell 0.3% and 0.24% respectively.
The 20-stock Total Return Index fell 0.21% to 19,503.23points, the All Share Index (with wider constituents) 0.04% to 3,305.93 and the Al Rayan Islamic Index by 0.26% to 4,477.65 points.
All the three indices factored in dividend income as well.
Industrials stocks shrank 0.86%; but by transport gained 0.74%, followed by insurance (0.73%), realty (0.41%), consumer goods (0.25%), telecom (0.25%) and banks and financial services (0.12%).
Domestic institutions’ net selling surged to QR29.45mn compared to QR2.57mn the previous day.
However, foreign institutions’ net buying rose to QR32.09mn against QR13.83mn on Wednesday.
Local retail investors turned net buyers to the tune of QR6.43mn compared with net profit takers of QR12.43mn the previous day.
Non-Qatari individual investors were net sellers to the extent of QR9.02mn against net buyers of QR1.17mn on Wednesday.
Major shakers included Industries Qatar, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan and Gulf International Services.
However, QNB, Mazaya Qatar, Mannai Corporation, Vodafone Qatar, Nakilat, Ezdan, Doha Insurance, Qatari Investors Group and Islamic Holding Group were seen to buck the trend.
Mazaya Qatar and Salam International Investment were the most active in terms of both volume and value respectively.
Total trading volume fell 12% to 13.68mn stocks, while value rose 8% to QR630.54mn and transactions by 2% to 7,177.
The insurance sector’s trading volume plummeted 56% to 0.36mn equities, value by 42% to QR17.26mn and deals by 9% to 199.
The market witnessed a 25% plunge in the transport sector’s trading volume to 0.33mn shares, but there was a 7% rise in value to QR14.56mn and 10% in transactions to 229.
The real estate sector’s trading volume tanked 22% to 5.23mn stocks, value by 22% to QR124.37mn and deals by 9% to 1,608.
There was a 16% decline in the consumer goods sector’s trading volume to 1.98mn equities, 15% in value to QR70.36mn and 11% in transactions to 719.
However, the banks and financial services sector reported a 14% surge in trading volume to 3.78mn shares, 46% in value to QR238.52mn and 25% in deals to 2,245.
The industrials sector’s trading volume soared 12% to 1.38mn stocks, value by 24% to QR146.6mn and transactions by 2% to 1,902.
The telecom sector saw its trading volume expand 7% to 0.62mn equities and value by 17% to QR18.87mn but on a 5% fall in deals to 275.
In the debt market, a total of 20,000 treasury bills valued at QR199.23mn changed hands across five transactions; where there was no trading of government bonds.
