19/05/2015 00:33 AST
Snapping three days of bullish run, Qatar Stock Exchange lost 68 points to settle below the 12,500 mark, mainly pulled down by realty, telecom and transport stocks.
Increased net selling by local retail investors and bearish outlook of Gulf Cooperation Council (GCC) institutions and non-Qatari retail investors led the 20-stock Qatar Index shed 0.54% to 12,471.89 as trade volumes also declined.
The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the bourse, which however reported 1.51% gains year-to-date.
Foreign institutions’ net buying was otherwise seen intense in the market, where trading was largely skewed towards realty and banking sectors, whose stocks together accounted for about three-fourth of the overall volume.
Market capitalisation was down 0.41% or about QR3bn to QR664.55bn.
The Total Return Index shed 0.54% to 19,381.97 points, All Share Index by 0.43% to 3,325.01 points and Al Rayan Islamic Index by 0.23% to 4,750.88 points.
Real estate stocks sunk 3.62%, telecom (0.78%) and transport (0.57%); whereas insurance gained 1q.23%, banks and financial services (0.42%), consumer goods (0.21%) and industrials (0.13%).
About 67% of the stocks were in the red with major losers being Ezdan, Ooredoo, Gulf Warehousing, Industries Qatar, Salam International Investment, Aamal Company and Mesaieed Petrochemical Holding.
However, Qatar Islamic Bank, Masraf Al Rayan, Islamic Holding Group, Alijarah Holding, Qatari German Company for Medical Devices, Qatari Investors Group, Qatar Insurance, Doha Insurance, Mazaya Qatar and Vodafone Qatar bucked the trend.
Local retail investors’ net profit booking strengthened substantially to QR54.37mn against QR6.34mn on May 17.
The GCC individual investors turned net sellers to the tune of QR7.31mn compared with net buyers of QR0.47mn on Sunday.
Non-Qatari individual investors were also net sellers to the extent of QR16.35mn against net buyers of QR4.1mn the previous day.
The GCC institutions’ net buying weakened to QR0.18mn compared to QR23.78mn on May 17.
However, non-Qatari institutions’ net buying considerably strengthened to QR107.3mn against QR10.82mn on Sunday.
Domestic institutions’ net profit booking weakened to QR29.52mn compared to QR32.92mn the previous day.
Total trade volume fell 47% to 17.19mn shares, value by 36% to QR598.79mn and transactions by 18% to 7,516.
The telecom sector’s trade volume plummeted 65% to 1.2mn equities, value by 56% to QR28.5mn and deals by 44% to 463.
There was 57% plunge in the insurance sector’s trade volume to 0.36mn stocks, 54% in value to QR29.17mn and 19% in transactions to 241.
The real estate sector’s trade volume tanked 51% to 10.57mn shares, value by 48% to QR253.62mn and deals by 32% to 2,976.
The banks and financial services sector reported 29% shrinkage in trade volume to 2.24mn equities, 20% in value to QR141.36mn and 9% in transactions to 1,479.
The industrials sector’s trade volume declined 24% to 1.48mn stocks, even as value rose 13% to QR107.82mn and deals by 21% to 1,638.
However, the market witnessed 24% surge in the transport sector’s trade volume to 0.26mn shares but value shrank 28% to QR9.28mn. Transactions expanded 45% to 206.
The consumer goods sector’s trade volume was up 4% to 1.09mn equities; while value fell 7% to QR29.05mn. Deals rose 8% to 513.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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