15/01/2015 06:04 AST
Qatar Stock Exchange on Wednesday strolled back into the negative trajectory, mainly dragged by telecom, industrials and banking stocks.
Domestic institutions were brisk in selling as the 20-stock Qatar Index (based on price data) fell 0.5% to 11,877.43 points as trade volumes also fell.
Large and micro cap equities were seen hardest hit in the bourse, which is, down 3.32% year-to-date.
The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the bourse, where real estate, banking and industrials stocks corner about 86% of the total trading volume.
Market capitalisation fell 0.65% or more than QR4bn to QR648.52bn with large, micro and mid cap equities losing 0.61%, 0.55% and 0.15% respectively.
The Total Return Index shed 0.5% to 17,715.07 points, All Share Index by 0.45% to 3,049.94 points and Al Rayan Islamic Index by 0.16% to 3,970.65 points.
Telecom stocks plunged 0.73%, industrials (0.64%), banks and financial services (0.52%), realty (0.41%) and insurance (0.07%); whereas consumer goods and transport rose 0.28% and 0.08% respectively.
More than half of the traded stocks were in the red with major losers being QNB, Industries Qatar, Vodafone Qatar, Ooredoo, Aamal Company, United Development Company, Ezdan, Alijarah Holding and International Islamic; even as Qatar Islamic Bank, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar and Nakilat bucked the trend.
Domestic institutions turned net sellers to the tune of QR5.76mn against net buyers of QR67.37mn the previous day.
Qatari retail investors’ net selling fell to QR6.81mn compared to QR48.68mn on January 13.
Non-Qatari individual investors’ net selling weakened to QR8.36mn against QR21.81mn on Tuesday.
Foreign institutions’ net buying rose to QR20.92mn compared to QR3.06mn the previous day.
Total trade volume fell 16% to 9.13mn shares; while value rose 18% to QR618.9mn. Transactions were down 3% to 6,610.
The consumer goods sector saw its trade volume plummet 71% to 0.15mn stocks, value by 58% to QR12.2mn and deals by 44% to 219.
The telecom sector’s trade volume tanked 47% to 0.81mn equities; value by 49% to QR16.47mn and transactions by 31% to 415.
The real estate sector saw its trade volume plunge 37% to 2.93mn shares, value by 40% to QR92.87mn and deals by 32% to 1,240.
However, the insurance sector’s trade volume more than doubled to 0.1mn stocks and value also more than doubled to QR8.37mn on 71% jump in transactions to 70.
The industrials sector saw its trade volume soar 45% to 2.39mn equities, value by 74% to QR252.23mn and deals by 23% to 2,488.
The transport sector’s trade volume expanded 13% to 0.26mn shares, value by 6% to QR7.09mn and transactions by 9% to 140.
The banks and financial services reported 10% surge in trade volume to 2.49mn stocks, 37% in value to QR229.79mn and 13% in deals to 2,038.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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