25/09/2014 00:41 AST
Four consecutive days of bearish spell led the Qatar Stock Exchange to settle below the 14,000 mark yesterday.
Domestic institutions were seen dragging the 20-stock Qatar Index (based on price data) by 0.53% to 13,932.3 points as volumes also shrank.
Profit-booking was more intense in the banking, consumer goods and industrials counters in the market, which is up 34.23% year-to-date.
The index that tracks Shariah-principled stock was seen melting slower than the other indices in the bourse, where trading volume was largely skewed towards realty and banking stocks.
The Total Return Index fell 0.53% to 20,779.89 points, the All Share Index by 0.57% to 3,522.09 points and the Al Rayan Islamic Index by 0.34% to 4,707.42 points.
However, local retail investors were seen to increasingly buying stocks and foreign institutions’ profit-booking weakened.
Market capitalisation eroded 0.59%, or more than QR4bn, to QR741.84bn. Large, mid, small and micro equities lost 0.71%, 0.44%, 0.41% and 0.36% respectively.
Banks and financial services stocks fell 0.9%, followed by consumer goods (0.64%), industrials (0.58%), insurance (0.52%), real estate (0.13%) and transport (0.07%); while telecom gained 0.8%.
About 70% of the traded stocks were in the red with major shakers being QNB, Industries Qatar, Commercial Bank, Qatar Islamic Bank, Doha Bank, International Islamic, Dlala, Gulf International Services, United Development Company, Ezdan, Mazaya Qatar, Vodafone Qatar and Nakilat.
However, Ooredoo and Barwa were seen to buck the overall bearish trend.
Domestic institutions turned net sellers to the extent of QR21.74mn against net buyers of QR86.19mn the previous day.
Foreign institutions’ net profit-booking fell to QR57.01mn compared to QR113.96mn on Tuesday.
Qatari retail investors’ net buying surged to QR66.03mn against QR18.78mn the previous day.
Non-Qatari individual investors’ net buying rose to QR12.72mn compared to QR8.86mn on Tuesday.
Total trading volume fell 19% to 10.72mn shares, value by 19% to QR506.73mn and transactions by 24% to 4,932.
The telecom sector’s trade volume plummeted 65% to 0.57mn equities, value by 41% to QR30.01mn and deals by 44% to 306.
The market witnessed a 35% plunge in the industrials sector’s trade volume to 0.8mn stocks, 19% in value to QR95.79mn and 44% in transactions to 992.
The banks and financial services sector reported a 27% decline in trade volume to 2.42mn shares, 27% in value to QR184.17mn and 15% in deals to 1,820.
The transport sector’s trade volume shrank 23% to 0.46mn equities, value by 38% to QR15.87mn and transactions by 24% to 176.
The consumer goods sector saw its trade volume fall 12% to 0.57mn stocks, value by 40% to QR26.99mn and deals by 33% to 274.
However, the insurance sector’s trade volume surged 15% to 0.15mn shares and value by 17% to QR10.74mn, while transactions fell 1% to 98.
The real-estate sector’s trade volume was up 1% to 5.75mn equities and value by 12% to QR143.16mn, whereas deals were down 2% to 1,266.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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