15/04/2015 00:51 AST
Qatar Stock Exchange continued to remain under bearish pressure for the second straight session to settle below the 11,800 mark; dragged by industrials, insurance and consumer goods.
Domestic and foreign institutions resorted to profit booking, driving the 20-stock Qatar Index down 0.35% lower at 11,777.91 points as trade volumes also shrank.
Mid cap stocks were seen underperforming the main index in the bourse, which is down 4.13% year-to-date.
However, local and non-Qatari retail investors were increasingly into net buying in the market, where industrials, realty and telecom stocks accounted for more than 79% of the total trading volume.
Market capitalisation fell 0.35% or more than QR2bn to QR633.84bn with mid, large, micro and small cap stocks losing 0.5%, 0.33%, 0.25% and 0.21% respectively.
The Total Return Index shed 0.35% to 18,301.95 points, All Share Index by 0.38% to 3,145.64 points and Al Rayan Islamic Index by 0.22% to 4,403.94 points.
Industrials stocks plunged 0.86%, insurance (0.58%), consumer goods (0.4%), transport (0.32%), telecom (0.26%) and banks and financial services (0.23%); while that of real estate was unchanged.
About 66% of the stocks were in the red with major losers being Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding Company, Vodafone Qatar, Ezdan, United Development Company, Milaha, Qatar National Cement, International Islamic and Doha Bank; even as Qatar Islamic Bank and Barwa bucked the trend.
Domestic institutions turned net sellers to the tune of QR8.59mn against net buyers of QR27.28mn on Monday.
Non-Qatari institutions’ net selling strengthened to QR30.92mn compared to QR7.32mn on April 13.
Non-Qatari individual investors’ net buying rose to QR21.14mn against QR14.35mn the previous day.
The Gulf Cooperation Council (GCC) individual investors turned net buyers to the extent of QR1.27mn compared with net sellers of QR0.15mn on Monday.
Local retail investors’ net buying strengthened to QR28.47mn against QR16.47mn on April 13.
The GCC institutions’ net profit booking weakened to QR11.36mn compared to QR50.53mn the previous day.
Total trade volume fell 28% to 7.08mn shares, value by 22% to QR383.68mn and transactions by 22% to 4,518.
The insurance sector’s trade volume plummeted 69% to 0.04mn equities, value by 75% to QR2.37mn and deals by 40% to 41.
There was 62% plunge in the transport sector’s trade volume to 0.11mn stocks, 49% in value to QR4.39mn and 70% in transactions to 76.
The consumer goods sector’s trade volume tanked 51% to 0.24mn shares, value by 36% to QR17.54mn and deals by 43% to 198.
The market witnessed 41% slippage in the real estate sector’s trade volume to 1.66mn equities, 29% in value to QR47.08mn and 36% in transactions to 631.
The telecom sector’s trade volume declined 26% to 1.16mn stocks, value by 23% to QR23.68mn and deals by 41% to 298.
The industrials sector saw its trade volume shrink 15% to 2.78mn shares, value by 19% to QR220.55mn and transactions by 11% to 2,349.
The banks and financial services sector reported 10% fall in trade volume to 1.1mn equities, 12% in value to QR68.05mn and 6% in deals to 925.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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