13/02/2015 07:26 AST
The eight-day bullish run gave way to profit booking in the Qatar Stock Exchange, which settled 83 points lower with more than 71% of the traded stocks closing in the red.
Foreign retail and institutional investors were seen exerting selling pressure to drag the 20-stock Qatar Index (based on price data) 0.64% to 12,607.6 points as trade volumes also fell.
Micro and small caps witnessed the maximum selling in the bourse, which is, however, up 2.62% year-to-date.
Local retail investors’ buying interest became intense in the market, where telecom, real estate and banking stocks together cornered more than 84% of the total trading volume.
Market capitalisation shrank 0.6% or more than QR4bn to QR681.78bn with small, micro, mid and large cap equities melting 1.38%, 0.58%, 0.27% and 0.21% respectively.
The Total Return Index shed 0.64% to 18,923.59 points, All Share Index by 0.71% to 3,257.7 points and Al Rayan Islamic Index by 0.7% to 4,408.6 points.
Realty stocks plunged 2.22%, insurance (1.38%), industrials (0.69%), consumer goods (0.43%), banks and financial services (0.3%) and transport (0.26%); while telecom gained 0.28%.
Major shakers included Ezdan, Aamal Company, Mazaya Qatar, Qatar National Cement, Vodafone Qatar, Nakilat, Gulf International Services, Qatar Islamic Bank, Doha Bank and Salam International Investment; even as Barwa and Ooredoo bucked the trend.
Non-Qatari individual investors turned net sellers to the tune of QR3.2mn against net buyers of QR35.59mn the previous day.
Foreign institutions’ net selling rose to QR23.85mn compared to QR21.79mn on Wednesday.
Qatari retail investors’ net buying soared to QR23.19mn against QR5.72mn on February 10.
Domestic institutions turned net buyers to the extent of QR3.86mn compared with net profit takers of QR19.52mn the previous day.
Total trade volume fell 48% to 17.34mn shares, value by 44% to QR552.14mn and transactions by 33% to 6,683.
The telecom sector’s trade volume plummeted 59% to 6.13mn stocks, value by 60% to QR118.23mn and deals by 49% to 1,183.
There was 43% plunge in the real estate’s trade volume to 6.05mn equities, 41% in value to QR148.03mn and 22% in transactions to 2,181.
The consumer goods sector’s trade volume tanked 38% to 0.76mn shares, value by 46% to QR26.34mn and deals by 42% to 364.
The industrials sector saw its trade volume decline 36% to 0.96mn stocks, value by 28% to QR79.12mn and transactions by 27% to 1,074.
The banks and financial services sector reported 34% shrinkage in trade volume to 2.43mn equities, 39% in value to QR144.86mn and 33% in deals to 1,551.
The transport sector’s trade volume melted 24% to 0.89mn shares, value by 30% to QR26.25mn and transactions by 36% to 184.
The insurance sector’s trade volume was down 14% to 0.12mn stocks and value by 6% to QR9.31mn; while deals were up 4% to 146.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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