DOHA: The Doha Securities Market (DSM) slipped for a second day yesterday due to profit booking at the insurance, industry and banking and financial institution counters.
Despite feeble buying in the largest volume services sector, the 20-stock benchmark Qatar Share Index lost 24 points or 0.39%to close at 6,130.41 amidst surge in trading. The DSM has fallen 14.06% year-to-date.
The lowest volume insurance saw its index lose a sizeable 1.35% followed by industry (0.52%) and banking and financial institution (0.51%). The services? index gained 0.07%.
The notional wealth (capitalisation) saw a further QR29mn erosion to QR200.61bn as market breadth was tilted towards losers.
Of the 36 listed entities, only 8 gained, while 19 fell, three remained un-changed and six were not traded.
Amid a bearish market, there were some fast gainers of over 1% such as Dlala (5.88%), Nakilat (4.35%), Qatar Technical Inspection Company (1.94%) and Qatar Shipping (1.25%).
Major losers of over 1% were Al Khaleej Insurance (4.48%), Doha Insurance (3.95%), Qatar National Cement (1.99%), International Islamic (1.88%), Salam International (SIIL, 1.43%), National Leasing (NLC, 1.32%), Qatar Insurance (1.22%) and Doha Bank (1.13%).
Overall volumes more than doubled to 12.12mn shares leading to a 94% jump in value to QR285.71mn on a 48% increase in deals to 5,562.
Services? volume surged 140% to 8.98mn shares, value by 129% to QR203.47mn and the number of deals by 74% to 3,124.
Banking and financial institution's trading volume grew 28% to 1.51mn shares leading to a 12% gain in value to QR42.15mn on a 13% jump in the number of transactions to 1,498.
Industrial volumes jumped over three-fold to 1.57mn shares, resulting in more than doubled value to QR36.76mn on a 79% rise in the number of transactions to 836.
Insurance volumes fell 30% to 0.07mn shares leading to a 40% drop in value to QR3.33mn on a 36% shrinkage in the number of deals to 104.
Widely traded entities were Nakilat (6.43mn shares), Barwa (1.47mn), Gulf Cement (1.16mn), Masraf Al Rayan (1.13mn), SIIL (238,839), Qatar Electricity and Water (169,172), Qatar Industrial Manufacturing (152,566), United Development Company (152,043), International Islamic (150,256) and NLC (134,102).
