The Qatar Exchange was back in negative terrain yesterday, steered mainly by industrials and banking and financial services stocks.
Domestic institutions hurriedly booked profits to drag the QE Index (based on price data) by 0.32% to 8,316.05 points. The market is down 5.27% year-to-date.
The All Share Index (comprising wider constituents) and the Total Return Index also shrank 0.18% and 0.32% to 2,005.75 and 11,254.62 points respectively. Both the indices factored in dividend income as well.
Major losers included QNB, Doha Bank, al khaliji, Industries Qatar, United Development Company and Milaha; while Mazaya Qatar, Vodafone Qatar, Gulf Warehousing and Qatari German Company for Medical Devices (QGMD) bucked the trend.
Under the All Share Index category, the industrial index lost 0.47%, banks and financial services (0.32%) and transport (0.21%); whereas the indices of consumer goods, insurance, realty and telecom rose 0.52%, 0.42%, 0.38% and 0.37% respectively.
Market capitalisation fell 0.28% or more than QR1bn to QR445.94bn with large and small cap equities notably losing 0.39% and 0.24% respectively; even as micro caps rose 0.90%.
Of the 42 stocks, 20 gained, while 16 declined, four were unchanged and two were not traded.
Domestic institutions’ bullish grip considerably slackened as their net selling plunged to 1.34% from 48.04% the previous day.
A much lower 15.55% of them bought equities compared to 53.60% on Wednesday while a higher 14.21% offloaded against 5.56%.
Foreign institutions’ profit booking became less intense as their net selling sunk to 10.85% from 48.23% the previous day.
A lower 4.29% of them were into buying against 7.02% on Wednesday but a much lower 15.14% of them into selling compared to 55.25%.
Qatari individual investors were increasingly bullish as their net buying soared to 10.24% from 0.48% the previous day.
A much higher 59.64% of them purchased equities compared to 30.25% on Wednesday and a much higher 49.40% sold against 29.77%.
Non-Qatari retail investors were increasingly profit takers as their net selling rose to 0.74% from 0.29% the previous day.
A much higher 20.52% of them were into buying against 9.13% on Wednesday and a much higher 21.26% were into offloading against 9.42%.
Total trading volume was up 6% to 15.12mn equities, value by 3% to QR302.72mn and deals by 48% to 4,830.
The real estate sector’s trading volume jumped about nine-fold to 6.65mn shares and value by more than seven-fold to QR87.52mn on almost quadrupled transactions to 1,279.
The telecom sector’s trading volume surged almost five-fold to 1.88mn shares and value also by more than five-fold to QR28.54mn on more than tripled deals to 518.
The transport sector’s trading volume more than doubled to 0.88mn shares and value more than quadrupled to QR25.24mn on more than doubled transactions to 610.
The industrials sector’s trading volume soared 62% to 1.86mn shares and value by 46% to QR71.31mn while deals were down 4% to 708.
However, the banks and financial services sector’s trading volume plunged 87% to 1.03mn shares, value by 77% to QR37.67mn and transactions by 19% to 698.
The consumer goods and services sector’s trading volume tanked 15% to 2.76mn shares and value by 7% to QR49.06mn whereas deals gained 9% to 961.
The insurance sector’s trading volume was flat at 0.06mn shares while value rose 23% to QR3.37mn but transactions lost 10% to 56.
Actively traded stocks (in terms of volume) were Mazaya Qatar (6.35mn shares); QGMD (2.49mn); Vodafone Qatar (1.77mn); Qatari Investors Group (1.44mn) and Nakilat (504,885).In the debt market, there was no trading.Improved global sentiment helped Dubai’s index end higher for a third day since Monday’s four-month low, with this close correlation to international events expected to remain over the summer trading lull.
World shares are at week-highs on signs policymakers in Europe are taking urgent action to help stem Spain’s banking crisis.
This optimism led Dubai investors to target small-cap stocks. National Central Cooling (Tabreed) climbed 2.6%, Gulf Navigation rose 2% and property firm Deyaar added 0.3%.
The trio accounted for nearly half of all shares traded, yet have a combined market value of less than $810mn. Market leader Emaar Properties, which rose 0.4%, is worth $4.7bn.Abu Dhabi’s benchmark also advanced, rising 0.2% to 2,440 points.
Banks and telecoms stocks support as Oman’s index ended higher for a third day, with investor sentiment improving ahead of Bank Nizwa’s bourse debut.
Kuwait’s benchmark mounted a late rally to end 0.2% higher at 6,099 points, easing away from Wednesday’s 16-week low.from gulf times.