Real estate and consumer goods counters on Sunday witnessed strong demand despite a marginal decline in the Qatar Stock Exchange.
Weakened net selling by foreign and Gulf institutions was visible even as the 20-stock Qatar Index fell 0.1% to 8,666.55 points.
Local retail investors continued to be net buyers but with lesser intensity in the market, whose year-to-date losses were at 16.96%.
Islamic equities were seen declining slower than the main index in the bourse, which, however, saw profit-booking pressure from domestic institutions.
After initial gains that took the index near 9,700 levels, there was strong profit-booking for the next 60 minutes to drive it down less than 8,660 points, after which the market was range-bound for the next 100 minutes. There was some last minute selling and some buying, thus settling the index nine points lower.
Trade turnover shrank amidst higher volumes in the market, where the telecom, industrials and banking sectors together accounted for more than 89% of the total volumes.
Market capitalisation gained 0.24% to QR470.83bn.
The Total Return Index fell 0.1% to 14,533.29 points and the Al Rayan Islamic Index by 0.04% to 3,448.42 points; whereas the All Share Index grew 0.19% to 2,465.65 points.
The consumer goods index gained 1.51%, followed by realty (1.06%), transport (0.14%), insurance (0.09% and industrials (0.06%); while telecom and banks and financial services fell 0.38% and 0.14% respectively.
About 58% of the traded stocks extended gains with major movers being Dlala, Ezdan, Mazaya Qatar, Alijarah Holding, Qatar First Bank, Mannai Corporation, Mesaieed Petrochemical Holding and Gulf International Services.
Non-Qatari institutions’ net selling weakened considerably to QR7.09mn compared to QR15.02mn last Thursday.
The GCC (Gulf Cooperation Council) institutions’ net profit-booking fell to QR0.24mn against QR4.99mn on September 7.
However, domestic funds turned net sellers to the tune of QR1.61mn compared with net buyers of QR8.04mn the previous day.
Local retail investors’ net buying weakened marginally to QR5.04mn against QR5.09mn last Thursday.
Non-Qatari retail investors’ net buying shrank perceptibly to QR3.75mn compared to QR5.06mn on September 7.
The GCC individual investors’ net buying weakened to QR0.2mn against QR0.45mn the previous day.
Total trade volumes rose 30% to 9.17mn shares, while value fell 33% to QR116.48mn and deals by 35% to 1,515.
The industrials sector’s trade volume more than doubled to 2.65mn equities, while value was down 2% to QR30.12mn despite a 7% jump in transactions to 489.
There was a 53% surge in the telecom sector’s trade volume to 4.06mn stocks and 35% in value to QR36.64mn but on a 22% fall in deals to 141.
However, the transport sector’s trade volume plummeted 73% to 0.14mn shares, value by 72% to QR3.9mn and transactions by 74% to 120.
The consumer goods sector reported a 33% plunge in trade volume to 0.08mn equities, 1% in value to QR5.42mn and 23% in deals to 104.
The real estate sector’s trade volume tanked 23% to 0.74mn stocks, value by 26% to QR11.83mn and transactions by 12% to 231.
The market witnessed a 20% decline in the insurance sector’s trade volume to 0.04mn shares, 39% in value to QR2.15mn and 59% in deals to 22.
The banks and financial services sector’s trade volume declined 15% to 1.46mn equities, value by 65% to QR26.42mn and transactions by 48% to 408.
In the debt market, there was no trading of treasury bills and government bonds.
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