18/08/2014 02:34 AST
The Qatar Stock Exchange yesterday opened the week weak, mainly dragged by telecom, transport and real-estate stocks.
Profit-booking, especially in the micro, small and large cap segments, led the 20-stock Qatar Index (based on price data) shed 89 points or 0.66% to close at 13,416.3 points.
The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the market, which is however up 29.26% year-to-date.
Market capitalisation eroded 0.87%, or more than QR6bn, to QR716.94bn. Micro, small, large and mid cap equities lost 0.93%, 0.63%, 0.62% and 0.59% respectively.
Telecom stocks plunged 1.31%, followed by transport (0.87%), realty (0.8%), banks and financial services (0.64%), consumer goods (0.57%), insurance (0.22%) and industrials (0.17%).
More than 65% of the stocks were in the red with major losers being Mesaieed Petrochemical Holding, Mannai Corp, Doha Insurance, Salam International Investment, Doha Bank, Commercial Bank and Qatar Islamic Bank.
However, Islamic Holding Group, Mazaya Qatar, Aamal Company and Ezdan were seen to buck the trend.
Mesaieed Petrochemical Holding, Mazaya Qatar and Ezdan were the most active in terms of both volume and value respectively.
Both domestic and foreign institutions were net profit-takers while local and non-Qatari retail investors were in buying mode.
Total trading volume fell 7% to 22.51mn stocks, value by 33% to QR764.64mn and transactions by 21% to 8,388.
The telecom sector’s trading volume plummeted 76% to 0.76mn equities, value by 72% to QR22.41mn and deals by 58% to 320.
The market witnessed 53% plunge in the insurance sector’s trading volume to 0.09mn shares, 63% in value to QR4.22mn and 37% in transactions to 78.
The industrials sector’s trading volume tanked 43% to 5.65mn stocks, value by 51% to QR254.37mn and deals by 37% to 2,856.
The consumer goods sector saw its trading volume shrank 41% to 0.79mn equities, value by 49% to QR29.05mn and transactions by 22% to 450.
The transport sector’s trading volume retarded 39% to 0.45mn shares, value by 39% to QR15.06mn and deals by 23% to 233.
The banks and financial services sector reported a 27% decline in trading volume to 2.93mn stocks, 47% in value to QR173.06mn and 45% in transactions to 1,558.
However, the real estate sector’s trading volume more than doubled to 11.85mn equities and value also more than doubled to QR266.47mn on 92% jump in deals to 2,893.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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