28/02/2014 06:25 AST
The Qatar Exchange witnessed a continued bearish overhang for the third day yesterday, which also saw Mesaieed Petrochemical Holding Company (MPHC) shares fall 10%.
Retail investors continued to be net sellers as the 20-stock Qatar Index (based on price data) fell 0.57% to 11,771.83 points.
Domestic institutions’ buying interests rose marginally in the market, which is, however, up 13.41% year-to-date.
Trading volumes fell and was largely skewed towards industrials, banks and realty stocks in the market.
The index that tracks Shariah-principled stocks was unchanged compared to the other indices.
The 20-stock Total Return Index fell 0.33% to 17,027.04 points and the All Share Index (with wider constituents) by 0.06% to 2,956.79 but the Al Rayan Islamic Index was flat at 3,373.92 points. All the three indices factored in dividend income as well.
Insurance stocks plunged 2.76%, followed by transport (1.61%), realty (1.09%), telecom (0.38%) and industrials (0.07%); whereas consumer goods rose 2% and banks and financial services gained 0.3%.
More than 56% of the traded stocks were in the red with prime shakers, other than MPHC, being Industries Qatar, Masraf Al Rayan, Gulf International Services, Qatari Investors Group, United Development Company, Mazaya Qatar, Barwa, Vodafone Qatar, Milaha and Qatar General Insurance.
However, QNB, Commercial Bank, Salam International Investment and Nakilat bucked the trend.
Market capitalisation fell 1.01%, or about QR7bn, to QR683.47bn.
Qatari retail investors’ net selling stood at QR68.11mn compared to QR73.21mn the previous day.
Non-Qatari individual investors’ net buying was QR19.22mn against QR49.32mn on Wednesday.
Foreign institutions turned net buyers to the tune of QR13.56mn compared with net sellers of QR7.6mn the previous day.
Domestic institutions’ net buying was QR35.25mn against QR31.61mn on Wednesday.
Total trading volume fell 17% to 15.46mn stocks, value by 27% to QR797.58mn and transactions by 25% to 11,354.
There was a 47% plunge in industrials sector’s trading volume to 6.23mn equities, 52% in value to QR375.86mn and 40% in deals to 7,614.
The real estate sector saw its trading volume plummet 41% to 2mn shares and value by 41% to QR48.02mn but on a 2% gain in transactions to 623.
However, the insurance sector’s trading volume vaulted more than 11-fold to 1.14mn stocks and value by about 11-fold to QR57.44mn on more-than-quadrupled deals to 283.
The consumer goods sector saw its trading volume almost triple to 1.2mn equities and value more than doubled to QR63.29mn on more-than-doubled-transactions to 729.
The banks and financial services sector reported a 74% surge in trading volume to 2.79mn shares, 46% in value to QR180.81mn and 49% in deals to 1,385.
The transport sector’s trading volume expanded 50% to 1.14mn stocks, value by 46% to QR43.92mn and transactions by 72% to 339.
The market witnessed a 25% rise in the telecom sector’s trading volume to 0.95mn equities, but on a 12% fall in value to QR28.24mn. Deals soared 46% to 381.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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