21/01/2015 05:38 AST
Buying interests in Islamic stocks notwithstanding, the Qatar Stock Exchange yesterday entered the third day of bearish spell.
Selling pressure in banking and transport stocks masked the buying interests, especially in the real estate, consumer goods and telecom sectors as the 20-stock Qatar Index (based on price data) fell 0.25% to 11,862.32 points amid higher trade volumes.
Foreign institutions turned profit-takers and local retail investors’ net buying weakened substantially in the bourse, which is, down 3.45% year-to-date.
However, domestic institutions were seen bullish in the market, where realty, banking and industrials stocks cornered about 81% of the total trading volume.
Market capitalisation was down 0.13%, or QR85mn, to QR647.01bn with large-cap equities melting 0.78%; while mid caps rose 0.57%.
The Total Return Index fell 0.25% to 17,692.54 points and the All Share Index by 0.11% to 3,046.31 points but the Al Rayan Islamic Index rose 0.62% to 4,036.46 points.
Banks and financial services stocks fell 1.17% and transport 0.51%; whereas realty gained 1.53%, insurance 1.27%, consumer goods 1.21%, telecom 0.53% and industrials rose 0.13%.
Major losers included QNB, Qatar Islamic Bank, Doha Bank, Gulf International Services, Gulf Warehousing and Milaha; even as Mazaya Qatar, United Development Company, Barwa, Vodafone Qatar and Islamic Holding Group bucked the trend.
Foreign institutions turned net sellers to the tune of QR38.05mn against net buyers of QR23.24mn the previous day.
Qatari retail investors’ net buying sunk to QR17.13mn compared to QR64.45mn on January 19.
Non-Qatari individual investors’ net buying fell to QR3.31mn against QR4.01mn on Monday.
Domestic institutions turned net buyers to the extent of QR17.54mn compared with net profit-takers of QR91.69mn the previous day.
Total trade volume rose 22% to 16.03mn shares, value by 10% to QR690.6n and transactions by 22% to 7,555.
The telecom sector’s trade volume almost quadrupled to 1.82mn stocks and value more than doubled to QR32.73mn on a 27% jump in deals to 481.
The insurance sector’s trade volume tripled to 0.21mn equities and value more than quadrupled to QR16.82mn on a 93% rise in transactions to 139.
The consumer goods sector saw its trade volume more than double to 0.45mn shares, value soar 97% to QR17.84mn and deals by 53% to 330.
The banks and financial services reported a 21% surge in trade volume to 2.46mn stocks, 26% in value to QR174.99mn and 34% in transactions to 1,955.
The real estate sector’s trade volume expanded 15% to 9.04mn equities but value fell 1% to QR301.2mn. Deals gained 12% to 2,629.
However, the transport sector’s trade volume plummeted 40% to 0.64mn shares and value by 13% to QR25.7mn while transactions rose 5% to 335.
The market witnessed a 2% decline in the industrials sector’s trade volume to 1.41mn stocks and 3% in value to QR121.32mn but deals were up 19% to 1,686.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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