14/04/2014 05:57 AST
The Qatar Stock Exchange yesterday opened the week weak as its key index retreated below the 12,300 mark, mainly dragged by transport and banking stocks; even as market capitalisation was flat.
Snapping a two-day bull-run, the 20-stock Qatar Index (based on price data) fell 1.39% to 12,225.19 points with large and mid cap equities witnessing higher selling pressure.
Net buying interests from local and non-Qatari retail investors as well as foreign institutions were seen weakening the bourse, which is, however, up 17.78% year-to-date.
Trading volumes fell and was skewed mainly towards banking, real estate, consumer goods and industrials equities.
The 20-stock Total Return Index shrank 1.39% to 18,230.39 points, the All Share Index (with wider constituents) by 0.93% to 3,168.67 and the Al Rayan Islamic Index by 1.11% to 3,962.56 points.
All the three indices factored in dividend income as well.
Transport stocks plunged 2%, followed by banks and financial services (1.64%), realty (0.91%), industrials (0.19%) and consumer goods (0.1%); whereas insurance and telecom gained 0.39% and 0.06% respectively.
About 62% of the stocks were in the red with losers being QNB, Industries Qatar, Nakilat, Commercial Bank, Qatar Islamic Bank, Doha Bank, International Islamic, Masraf Al Rayan, al khaliji, Gulf International Services, United Development Company, Barwa, Mazaya Qatar, Qatari Investors Group, Qatar Insurance and Qatar Islamic Insurance.
However, Aamal Company, Ezdan, Salam International Investment and Widam Food bucked the trend. Market capitalisation was rather flat at QR709.22bn. However, large, mid and micro cap equities fell 1.07%, 0.98% and 0.31% respectively.
Qatari retail investors’ net buying fell to QR19.99mn against QR52.6mn last Thursday.
Non-Qatari individual investors’ net buying was down to QR3.15mn compared to QR7.58mn the previous trading day.
Foreign institutions’ net buying fell to QR44.33mn against QR46.17mn last Thursday.
Domestic institutions’ net profit-booking sunk to QR67.47mn compared to QR106.35mn the previous trading day.
Total trading volume fell 25% to 29.39mn stocks, value by 35% to QR925.57mn and transactions by 27% to 11,982.
The real estate sector’s trading volume plummeted 50% to 8.65mn equities, value by 52% to QR210.59mn and deals by 38% to 2,557.
The transport sector witnessed its trading volume plunge 49% to 0.78mn shares, value by 53% to QR23.79mn and transactions by 13% to 413.
The market witnessed a 41% shrinkage in the industrials sector’s trading volume to 2.35mn stocks, 39% in value to QR141.77mn and 33% in deals to 2,714.
The consumer goods sector’s trading volume tanked 28% to 3.57mn equities, value by 47% to QR94.25mn and transactions by 39% to 1,286.
The telecom sector saw its trading volume fall 27% to 1.45mn shares, value by 58% to QR23.63mn and deals by 12% to 405.
The insurance sector’s trading volume was down 12% to 0.98mn stocks; while value rose 2% to QR58.9mn. Transactions shrank 25% to 519.
However, the banks and financial services sector reported a 42% surge in trading volume to 11.56mn equities but on 10% shrinkage in value to QR372.66mn and 8% in deals to 4,088.
Gulf Times
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