05/03/2014 05:42 AST
A sustained bearish overhang for the fifth consecutive day yesterday led the Qatar Exchange to retreat below the 11,600 mark as global markets witnessed sell off in view of the Ukrainian issue.
Local retail investors were seen increasingly booking profits, forcing the 20-stock Qatar Index (based on price data) to shed 0.65% to 11,588.24 points.
Non-Qatari retail investors were also net sellers in the market, which is, up 11.64% year-to-date.
However, domestic institutions were seen robustly bullish in the bourse, where trading volumes were rather flat but skewed towards industrials, banks and realty stocks.
The index that tracks Shariah-principled stocks was seen to make solid gains compared to the other indices in the market, whose newly-listed Mesaieed Petrochemical Holding Company shed 10% for the third day and cumulatively has lost more than 27% since its listing.
The 20-stock Total Return Index was up 0.08% to 16,884.54 points, the All Share Index (with wider constituents) by 0.08% to 2,932.05 and the Al Rayan Islamic Index by 0.64% to 3,364.23 points.
All the three indices factored in dividend income as well.
Insurance stocks plunged 1.69%, followed by transport (1.67%), telecom (1.12%) and banks and financial services (0.28%), whereas realty gained 1.6%, followed by industrials (0.5%) and consumer goods (0.38%).
Other influential losers included QNB, Doha Bank, Ooredoo, Vodafone Qatar and Qatar Islamic Bank.
However, Industries Qatar, Gulf International Services, Barwa, Mazaya Qatar, United Development Company, Nakilat, Milaha, International Islamic and Salam International Investment bucked the trend.
Market capitalisation fell 0.98%, or about QR7bn, to QR663.03bn. Mid and large cap equities lost 1% each; while micro caps gained about 1%.
Qatari retail investors’ net selling stood at QR121.2mn compared to QR37.19mn the previous day.
Non-Qatari individual investors were net sellers to tune of QR7.88mn against net buyers of QR11.53mn on Monday.
Foreign institutions’ net buying was QR33.3mn compared to QR36.43mn the previous day.
Domestic institutions turned net buyers to the extent of QR95.72mn against net sellers of QR10.86mn on Monday.
Although total trading volume was flat at 14.43mn stocks, value fell 12% to QR651.62mn. Transactions were up 3% to 11,549.
The insurance sector’s trading volume plummeted 43% to 0.34mn equities, value by 38% to QR17.79mn and deals by 23% to 298.
The real estate sector saw its trading volume plunge 24% to 2mn shares and value by 19% to QR52.12mn but on a 7% gain in transactions to 712.
The consumer goods sector saw its trading volume tank 12% to 0.92mn stocks, value by 39% to QR46.07mn and deals by 12% to 589.
The market witnessed an 8% shrinkage in industrials sector’s trading volume to 6.32mn equities, 19% in value to QR322.14mn and 5% in transactions to 7,472.
However, the banks and financial services sector reported a 79% surge in trading volume to 2.97mn shares, 32% in value to QR158.59mn and 97% in deals to 1,753.
The transport sector’s trading volume expanded 16% to 1.01mn stocks, value by 62% to QR39.97mn and transactions by 16% to 429.
The telecom sector’s trading volume gained 14% to 0.89mn equities, while there was a 48% fall in value to QR14.94mn and 21% in deals to 296.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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