Qatar’s bourse yesterday opened the week on a weak note by falling 1.15%, led by Industries Qatar (IQ) and certain banking stocks.
Local institutions were mainly instrumental in dragging the 20-stock benchmark Qatar Share Index down 75 points to close at 6,465.35, paced by large cap stocks.
About 63% of the stocks were in the red.
Both local and foreign retail investors as well as foreign institutions were however bullish at the Doha Securities Market, which is now down 6.11% year-to-date.
IQ, Nakilat, Qatar Islamic Bank, Doha Bank and Masraf Al Rayan stocks fell 2.23%, 1.67%, 1.5%, 2.39% and 2.5% respectively.
Maximum selling was seen in the industries, whose index fell 1.79%, followed by banks and financial institution (1.10%), insurance (0.99%) and services (0.77%).
Market capitalisation shrank 0.99% or about QR3bn to QR269.51bn as micro cap fell 1.92%, large cap (1.12%) and mid cap (0.70%), while small cap gained 0.22%.
Of the 43 stocks, only 12 gained, while 27 fell and four were not traded.
Opening weak at 6,528.86 points against the previous close of 6,540.32 mainly on industries and services, the benchmark then gained in the first 30 minutes to reach a high of 6,529 points on buying support at the banking, insurance and services sectors.
But the index kept losing steadily for the rest of the session and settled 75 points lower.
Local institutional investors’ profit-booking became intense as their net selling (in terms of value) rose to 10.68% from 9.55% in the previous trading day.
A higher 9.42% of them were into buying yesterday compared with 8.84% last Thursday and a higher 20.10% into selling against 18.39%.
Foreign institutions, however, turned bullish as they were net buyers to the tune of 1.04% compared with net sellers of 7.12% in the previous day.
A higher 13.38% of them bought equities against 10.35% last Thursday, while a lower 12.34% sold compared with 17.47%.
Qatari retail investors’ bullish grip eased as their net buying plunged to 6.23% from 8.21% in the previous day.
A higher 57.54% of them were into buying compared with 56% last Thursday and a higher 51.31% into selling against 47.79%.
Non-Qatari retail investors’ bullish grip slackened as their net buying plunged to 3.42% from 8.46% in the previous day.
A lower 19.67% of them picked up equities against 24.81% last Thursday and a marginally lower 16.25% offloaded compared with 16.35%.
Total trading volume fell 20% to 16.98mn shares, value by 15% to QR0.44bn and deals by 20% to 8,045.
Services’ trading volume plummeted 23% to 6.51mn shares, value by 20% to QR158.36mn and transactions by 15% to 3,712.
Industries’ trading volume lost 22% to 1.16mn shares, value by 32% to QR72.50mn and deals by 32% to 982.
Lenders’ trading volume was down 18% to 9.11mn shares, value by 4% to QR202.12mn and transactions by 22% to 3,157.
Insurance’s trading volume, however, expanded 36% to 0.19mn shares, value by 25% to QR6.49mn and deals by 7% to 194.
Actively traded stocks were Masaf Al Rayan (6.16mn shares); Nakilat (1.55mn); Barwa (1.41mn); Qatar Oman Investment (1.16mn) and Alkhaliji (1.01mn).
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