14/04/2015 00:34 AST
An across the board selling – particularly in the industrials and real estate stocks – Monday led Qatar Stock Exchange plummet 163 points to settle little above the 11,800 mark.
The Gulf Cooperation Council (GCC) and foreign institutions were seen squaring off their position to drive the 20-stock Qatar Index down 1.36% lower at 11,819.65 points amid increase in trade volumes.
Large cap stocks witnessed the maximum selling pressure in the bourse, which is down 3.79% year-to-date.
However, domestic institutions turned bullish and there were increased net buying interests from local retail investors in the market, where industrials, realty, telecom and banking stocks accounted for about 91% of the total trading volume.
Market capitalisation shrank 1.06% or about QR7bn to QR636.05bn with large, mid, micro and small cap stocks melting 1.03%, 0.93%, 0.88% and 0.65% respectively.
The Total Return Index shed 1.36% to 18,366.32 points, All Share Index by 1.18% to 3,157.6 points and Al Rayan Islamic Index by 1.2% to 4,413.85 points.
Industrials stocks plunged 2.4%, real estate (1.8%), telecom (1.32%), insurance (0.88%), consumer goods (0.82%), transport (0.78%) and banks and financial services (0.32%).
About 85% of the stocks were in the red with major losers being Industries Qatar, Gulf International Services, Aamal Company, Ezdan, Mazaya Qatar, Barwa, United Development Company, Vodafone Qatar, Ooredoo, Qatar Islamic Bank, Commercial Bank, Doha Bank, International Islamic, Alijarah Holding, Salam International Investment and Nakilat; even as QNB bucked the trend.
The GCC institutions turned net sellers to the tune of QR50.53mn against QR7.9mn the previous day.
Non-Qatari institutions’ net selling rose to QR7.32mn compared to QR4.59mn on April 12.
The GCC individual investors turned net profit takers to tune of QR0.15mn against net buyers of QR5.3mn on Sunday.
However, domestic institutions turned net buyers to the extent of QR27.28mn compared with net sellers of QR27.62mn the previous day.
Local retail investors’ net buying strengthened to QR16.47mn against QR1.68mn on April 12.
Non-Qatari individual investors’ net buying fell to QR14.35mn compared to QR17.3mn on Sunday.
Total trade volume was up 9% to 9.79mn shares, value by 61% to QR491.57mn and transactions by 50% to 5,790.
The insurance sector’s trade volume more than quadrupled to 0.13mn equities and value grew more than five-fold to QR9.39mn on doubled deals to 68.
The industrials sector’s trade volume more than doubled to 3.27mn stocks and value almost tripled to QR271.13mn on more than doubled transactions to 2,646.
The transport sector’s trade volume more than doubled to 0.29mn shares and value soared 20% to QR8.58mn on more than doubled deals to 256.
There was 88% surge in the consumer goods sector’s trade volume to 0.49mn equities, 44% in value to QR27.46mn and 12% in transactions to 346.
The banks and financial services sector reported 23% expansion in trade volume to 1.22mn stocks, 64% in value to QR77.37mn and 37% in deals to 983.
However, the telecom sector’s trade volume plummeted 40% to 1.56mn shares, value by 40% to QR30.92mn and transactions by 3% to 506.
The market witnessed 22% plunge in the real estate sector’s trade volume to 2.83mn equities, 23% in value to QR66.72mn and 5% in deals to 985.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
Please wait...
