09/04/2014 07:18 AST
The 10 consecutive days of bullish spell yesterday prompted investors, mainly local retail, to book profits, which led to a marginal weakening of the Qatar Exchange.
Telecom and banking stocks were mainly seen instrumental in dragging the 20-stock Qatar Index (based on price index) by 0.22% to 12,189.69 points.
Amidst an overall bearish overhang, the index that tracks Shariah-principled stocks was seen gaining in the bourse, which is, however, up 17.44% year-to-date.
Trading volumes fell and was skewed mainly towards real estate, banking, industrials and consumer goods equities.
The 20-stock Total Return Index was down 0.22% to 18,131 points and All Share Index (with wider constituents) by 0.08% to 3,125.52, while Al Rayan Islamic Index rose 0.27% to 3,851.32 points.
All the three indices factored in dividend income as well.
Telecom stocks fell 0.76%, banks and financial services (0.35%) and transport (0.05%); whereas insurance gained 0.89%, consumer goods (0.39%), realty (0.36%) and industrials (0.17%).
Major losers included Vodafone Qatar, QNB, Commercial Bank, Masraf Al Rayan, Qatari Investors Group, Mesaieed Petrochemical Holding and Nakilat.
However, Industries Qatar, Gulf International Services, Ezdan, Mazaya Qatar, United Development Company, Aamal Company and Widam Food bucked the trend.
In contrast, market capitalisation rose 0.55% or about QR4bn to QR686.81bn. Micro cap equities notably gained more than 2%, while small caps fell more than 1%.
Qatari retail investors turned net sellers to the tune of QR40.92mn against net buyers of QR21.88mn on Monday.
Non-Qatari individual investors turned net profit takers to the extent of QR11.63mn, compared with buyers of QR4.1mn the previous day.
Domestic institutions’ net selling plunged to QR1.28mn against QR100.44mn on Monday.
Foreign institutions’ net buying fell to QR30.76mn compared to QR74.46mn the previous day.
Total trading volume fell 28% to 23.51mn stocks, value by 26% to QR9,151.44mn and transactions by 10% to 11,886. The telecom sector’s trading volume plummeted 71% to 1.23mn equities, value by 61% to QR31.28mn and deals by 57% to 418.
The industrials sector witnessed its trading volume plunge 49% to 3.71mn shares, value by 42% to QR232.41mn and transactions by 24% to 3,491.
The banks and financial services sector reported 22% decline in trading volume to 5.49mn stocks, 18% in value to QR252.67mn and 4% in deals to 3,226.
The real estate sector’s trading volume tanked 21% to 8.72mn equities, value by 42% to QR170.65mn and transactions by 4% to 2,535.
The market witnessed 16% fall in the transport sector’s trading volume to 1mn shares, but value rose 5% to QR29.8mn. Deals were down 18% to 431.
However, the consumer goods sector’s trading volume surged 92% to 3.18mn stocks, value by 53% to QR190.62mn and transactions by 52% to 1,641.
The insurance sector witnessed 64% surge in trading volume to 0.18mn equities; value by 68% to QR8.01mn and deals by 5% to 144.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
Please wait...
