15/12/2016 08:14 AST
The Qatar Stock Exchange ended six consecutive days of bullish run and its key index fell 39 points, mainly on domestic institutions’ profit booking.
Banking, industrials and consumer goods counters witnessed the maximum selling pressure as the 20-stock Qatar Index shed 0.37% to 10,358.99 points.
A weakened buying support from foreign institutions also played its part in dragging the bourse, whose year-to-date losses widened to 0.67%.
Trade turnover and volumes were on the decline in the market, where telecom and banking sectors together accounted for about 71% of the total volume.
Islamic stocks were seen declining faster than the conventional ones in the market, where local retail investors and Gulf institutions however turned net buyers.
Market capitalisation shed about QR2bn or 0.31% to QR557.54bn as small, micro, large and midcap cap equities eroded 0.62%, 0.41%, 0.37% and 0.25% respectively.
The Total Return Index shrank 0.37% to 16,760.16 points, All Share Index by 0.36% to 2,844.17 points and Al Rayan Islamic Index 0.68% to 3,798.52 points.
Banks and financial services sector saw its index decline 0.69%, industrials (0.4%), consumer goods (0.37%), realty (0.21%), insurance (0.12%) and transport (0.01%), while telecom gained 1.1%.
About 61% of the traded stocks were in the red with major losers being Commercial Bank, Qatar Islamic Bank, Industries Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Mazaya Qatar, United Development Company, Ezdan, Vodafone Qatar, Nakilat, Gulf Warehousing and Qatari German Company for Medical Devices.
Nevertheless, Ooredoo, Barwa, Mannai Corporation, Qatar First Bank and Widam Food saw their stocks make modest gains.
Domestic institutions turned net sellers to the tune of QR23.85mn compared with net buyers of QR16.25mn on December 13.
Non-Qatari institutions’ net buying weakened considerably to QR15.27mn against QR57.18mn the previous day.
The GCC (Gulf Cooperation Council) individual investors’ net buying fell to QR0.28mn compared to QR0.3mn on Tuesday.
However, local retail investors turned net buyers to the extent of QR9.03mn against net sellers of QR53.49mn on December 13.
The GCC institutions were also net buyers to the tune of QR4.32mn compared with net sellers of QR11.21mn the previous day.
Non-Qatari individual investors’ net profit booking weakened to QR5.05mn against QR9.01mn on Tuesday.
Total trade volume fell 24% to 8.46mn shares, value by 30% to QR237.12mn and deals by 25% to 3,370.
There was 75% plunge in the real estate sector’s trade volume to 0.92mn equities, 74% in value to QR16.16mn and 45% in transactions to 429.
The transport sector’s trade volume plummeted 68% to 0.09mn stocks, value by 65% to QR3.62mn and deals by 44% to 124.
Banks and financial services sector saw 44% shrinkage in trade volume to 2.29mn shares, 31% in value to QR107.43mn and 34% in transactions to 1,247.
The consumer goods sector’s trade volume tanked 30% to 0.16mn equities, value by 8% to QR8.14mn and deals by 5% to 252.
The market witnessed 27% decline in the insurance sector’s trade volume to 0.08mn stocks, 29% in value to QR2.94mn and 21% in transactions to 65.
The industrials sector’s trade volume shrank 18% to 1.26mn shares, value by 32% to QR54.47mn and deals by 29% to 692.
However, the telecom sector’s trade volume more than tripled to 3.68mn equities and value almost tripled to QR44.35mn on 83% expansion in transactions to 561.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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