19/02/2014 06:04 AST
The Qatar Exchange yesterday retreated below the 11,700 levels mainly on profit-booking in the telecom and banking stocks.
Selling pressure was seen stronger among local retail investors as the 20-stock Qatar Index (based on price data) fell 0.29% to 11,690.49 points.
The index that tracks Shariah-principled stocks was in a better position as its fall was slower than the other major indices in the market, which is up 12.63% year-to-date.
The 20-stock Total Return Index fell 0.29% to 16,798.44 points, the All Share Index (with wider constituents) by 0.17% to 2,907.25 and the Al Rayan Islamic Index by 0.14% to 3,357.49 points.
All the three indices factored in dividend income as well.
Telecom stocks plunged 1.01%, followed by banks and financial services (0.37%) and industrials (0.08%); whereas insurance gained 0.91%, real estate (0.38%), transport (0.25%) and consumer goods (0.24%).
Influential losers included Vodafone Qatar, Qatar Islamic Bank, Masraf Al Rayan, Industries Qatar, Ooredoo, Al Meera, Nakilat, Doha Insurance and Qatar Islamic Insurance.
However, QNB, Doha Bank, Qatari Investors Group, United Development Company, Barwa, Mazaya Qatar and Milaha bucked the trend.
Market capitalisation fell 0.17%, or more than QR1bn, to QR613.26bn. Large cap equities lost 0.38%, followed by small caps (0.31%) and micro caps (0.22%), while mid caps rose by a marginal 0.09%.
Qatari retail investors turned net sellers to the extent of QR33.87mn against net buyers of QR18.45mn on Sunday.
Non-Qatari individual investors’ net selling stood at QR9.36mn compared to QR11.75mn the previous day.
Domestic institutions turned net buyers to the tune of QR7.64mn against net sellers of QR12.16mn on Sunday.
Foreign institutions’ net buying amounted to QR35.52mn compared to QR5.57mn the previous day.
Total trading volume fell 12% to 14.02mn stocks, value by 41% to QR611.44mn and transactions by 26% to 5,513.
The industrials sector’s trading volume plummeted 79% to 0.52mn equities, value by 82% to QR81.04mn and deals by 55% to 1,063.
The transport sector witnessed a 46% plunge in trading volume to 0.57mn shares, 29% in value to QR36.6mn and 7% in transactions to 358.
The banks and financial services sector reported a 27% shrinkage in trading volume to 2.52mn stocks, 36% in value to QR133.97mn and 30% in deals to 1,483.
The telecom sector’s trading volume tanked 25% to 2.68mn equities, value by 53% to QR50.47mn and transactions by 37% to 397.
The market witnessed a 13% fall in insurance sector’s trading volume to 0.28mn shares, 35% in value to QR12.66mn and 57% in deals to 98.
However, the real estate sector’s trading volume zoomed 53% to 5.12mn stocks, value by 50% to QR137.29mn and transactions by 10% to 758.
There was a 30% surge in consumer goods sector’s trading volume to 2.33mn equities, 47% in value to QR159.41mn and 26% in deals to 1,356.
Gulf Times
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