21/05/2014 07:28 AST
The Qatar Stock Exchange continued to reel under profit-booking yesterday and capitalisation witnessed further QR14bn erosion, as institutional investors booked profit, but with lesser vigour.
Led by real estate, transport, industrials and banking equities, the 20-stock Qatar Index (based on price data) fell another 0.55% to 12,626.95 points.
However, both Qatari and non-Qatari retail investors continued to be net buyers in the market, which is however up 21.65% year-to-date.
The index that tracks Shariah-principled stocks was seen losing faster than the other indices in the bourse where trading activities were on the decline.
Overall, volumes were mainly skewed towards realty, banking and industrials equities.
The 20-stock Total Return Index shed 0.55% to 18,829.51 points, the All Share Index (with wider constituents) by 0.5% to 3,236.31 and the Al Rayan Islamic Index by 0.68% to 4,170.98.
All the three indices factored in dividend income as well.
Real estate stocks plunged 1.47%, followed by transport (0.99%), industrials (0.95%), banks and financial services (0.58%) and consumer goods (0.03%), while insurance and telecom gained 1.66% and 1.32% respectively.
More than 65% of the stocks were in the red with major losers being QNB, Industries Qatar, Ezdan, Aamal Company, United Development Company, Barwa, Milaha, Doha Bank, Masraf Al Rayan, Dlala, Gulf International Services, Mesaieed Petrochemical Holding, Al Khaleej Takaful and Qatari Investors Group.
However, Ooredoo, Mazaya Qatar, Nakilat, Commercial Bank, al khaliji, Qatar Insurance and Widam Food were seen to buck the trend.
Market capitalisation eroded 1.88% to QR740.39bn. Micro, mid, large and small cap equities melted 1.05%, 0.82%, 0.79% and 0.42% respectively.
Foreign institutions’ net selling fell to QR21.71mn compared to QR52.15mn the previous day.
Domestic institutions’ net profit-booking shrank to QR16.71mn against QR49.72mn on Monday.
Qatari retail investors’ net buying fell to QR32.73mn compared to QR82.6mn the previous day.
Non-Qatari individual investors’ net buying was down to QR4.84mn against QR19.13mn on Monday.
Total trading volume shrank 49% to 18.77mn stocks, value by 42% to QR780.82mn and transactions by 27% to 9,029.
The real estate sector’s trading volume plummeted 68% to 7.34mn equities, value by 71% to QR200.36mn and deals by 51% to 2,230.
The insurance sector saw its trading volume plunge 40% to 0.86mn shares, value by 36% to QR28.91mn and transactions by 21% to 376.
The market witnessed a 33% shrinkage in the transport sector’s trading volume to 1.07mn stocks, 31% in value to QR38.86mn and 11% in deals to 477.
The consumer goods sector’s trading volume tanked 29% to 1.73mn equities; value by 30% to QR76.88mn and transactions by 24% to 932.
There was a 22% decline in the telecom sector’s trading to 1.35mn shares; while value rose 11% to QR44.89mn. Deals were down 15% to 533.
The industrials sector saw its trading volume fall 12% to 2.32mn stocks, value by 2% to QR197.07mn and transactions by 16% to 2,200.
However, the banks and financial services sector reported a 1% gain in trading volume to 4.11mn equities, but there was a 10% fall in value to QR193.84mn, while deals were up less than 1% to 2,281.
Gulf Times
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