14/05/2012 07:39 AST
The Qatar Exchange yesterday opened the week on a weaker note mainly due to selling pressure from both foreign and domestic institutions.
Mainly led down by telecom and consumer goods segments, the QE Index (based on price data) fell for the third day by 0.14% to 8,536.35 points.
The market is down 2.76% year-to-date.
The All Share Index (comprising wider constituents) and the Total Return Index also fell 0.28% and 0.14% to 2,047.91 and 11,552.76 points respectively. Both the indices factored in dividend income as well.
About 62% of the stocks were in the red with major shakers being Qatar Telecom, Mazaya Qatar, Qatari Investors Group, Qatar Islamic Bank, National Leasing, Dlala and Al Meera; even as Vodafone Qatar bucked the trend.
Under the All Share Index category, the insurance index tanked 2.53%, followed by telecom (1.15%), consumer goods (1%), real estate (0.28%) and industrials (0.25%); while the indices of transport as well as banks and financial services gained 0.24% and 0.02% respectively.
Market capitalisation eroded 0.33% or about QR2bn to QR457.32bn with micro, small and large-cap equities losing 1.36%, 1.06% and 0.28% respectively; while mid caps rose 0.38%.
Of the 42 stocks, seven each advanced and stood unchanged, while 26 declined and two were not traded.
Foreign institutions were increasingly profit-takers as their net selling soared to 16.27% from 12.64% the previous trading day.
A higher 8.90% of them were into buying against 4.43% last Thursday, but a much higher 25.17% of them into selling compared to 17.07%.
Domestic institutions continued to be bullish, but with much lesser vigour, as their net buying sunk to 8.98% from 19.94% the previous day.
A lower 20.64% of them bought equities against 29.57% last Thursday, while a higher 11.66% offloaded compared to 9.63%.
Qatari individual investors turned bullish as they were net buyers to the tune of 8.45% against net sellers of 6% the previous day.
A marginally higher 53.54% of them purchased equities compared to 52.01% last Thursday, whereas a much lower 45.09% sold against 58.01%.
Non-Qatari retail investors continued to bearish, but with lesser intensity, as their net selling fell to 1.17% from 1.31% the previous day.
A higher 16.91% of them were into buying against 13.99% last Thursday and a higher 18.08% were into offloading compared to 15.30%.
Total trading volume rose 13% to 10.06mn equities, while value lost 10% to QR210.40mn, but deals gained 6% to 3,751.
The telecom sector’s trading volume more than quadrupled to 3.90mn shares and value more than doubled QR45.50mn as transactions more than doubled to 822.
The industrials sector’s trading volume more than doubled to 1.80mn shares, value by rose 75% to QR56.84mn and deals by 51% to 878.
However, the consumer goods and services sector’s trading volume plummeted 91% to 0.15mn shares, value by 71% to QR9.80mn and transactions by 48% to 223.
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