The Qatar Exchange yesterday opened the week weak, ahead of the QR3.23bn initial public offering of Qatar Petroleum unit, which will hit the market tomorrow.
Local retail and institutional investors continued to be net sellers as the 20-stock Qatar Index fell for the third straight session by 0.3% to 10,360.02 points.
Small-cap equities largely came under heavy selling pressure on the Qatari bourse, whose key index has been remaining above the 10,000 mark for the 33rd consecutive day.
Mesaieed Petrochemical Holding Company, a holding entity of Q-Chem I, Q-Chem II and Qatar Vinyl Company is offering 323.19mn shares, primarily to local investors, at QR10.2 per share through its maiden offer.
However, there were increased buying interests among foreign retail investors and institutions in the market, which is up 23.94% year-to-date.
The index that tracks Shariah-principled stocks was seen to shrink faster than the other key indices.
The 20-stock Total Return Index shrank 0.3% to 14,802.09 points, the All Share Index (with wider constituents) by 0.19% to 2,584.38 and the Al Rayan Islamic Index by 0.78% to 3,037.66.
All the three indices factored in dividend income as well.
Transport stocks fell 0.26%, followed by industrials (0.25%), real estate (0.22%), insurance (0.19%), banks and financial services (0.18%), telecom (0.11%) and consumer goods (0.03%).
Market capitalisation was up 0.05%, or QR26mn, to QR555.22bn. Small cap stocks lost 2%, followed by micro (0.55%) and mid (0.32%); while large caps rose 0.1%.
Qatari individual investors net selling stood at QR10.39mn against QR14.59mn the previous trading day.
Domestic institutions' net selling amounted to QR29.03mn compared to QR13.27mn last Thursday.
Non-Qatari institutions' net buying was QR8.65mn against QR5.37mn the previous trading day.
Foreign institutions' net buying stood at QR30.8mn compared to QR22.49mn last Thursday.
Total trading volume fell 29% to 7.83mn stocks, value by 14% to QR289.45mn and transactions by 20% to 5,038.
The consumer goods sector's trading volume plummeted 76% to 1.03mn equities, value by 70% to QR20.54mn and deals by 65% to 529.
The banks and financial services sector reported 22% plunge in trading volume to 2.69mn shares, 7% in value to QR110.19mn and 15% in transactions to 1,829.
However, the transport sector's trading volume shot up 81% to 0.67mn stocks, value by 73% to QR17.57mn and deals by 35% to 257.
The insurance sector witnessed 67% surge in trading volume to 0.05mn equities and 45% in value to QR2.44mn amid more-than-doubled transactions to 47.
The telecom sector's trading volume expanded 24% to 0.62mn shares, value by 93% to QR14.12mn and deals by 12% to 264.
There was a 21% gain in industrials sector's trading volume to 1.56mn stocks but on 11% fall in value to QR95.38mn and 1% in transactions to 1,637.
The real estate sector's trading volume rose 11% to 1.21mn equities and value by 19% to QR29.21mn, while deals were down 5% to 475.
Vodafone Qatar quarterly results on January 29
Vodafone Qatar will announce its financial results for the quarter ending December 2013, on January 29.
Results will be available on the company's website at www.vodafone.com.qa and on the Qatar Exchange website www.qe.com.qa that day afternoon. Vodafone Qatar's financial year runs from April 1 to March 31.
© Gulf Times 2013
