Local retail investors on Tuesday turned net buyers in the Qatar Stock Exchange, which otherwise kept weakening to settle below 8,500 points.
An across-the-board selling led the 20-stock Qatar Index shrink 0.71% to a multi-year low of 8,471.6 points and market capitalisation erode 0.74% to QR460.71bn.
Islamic equities were seen declining faster than the main index in the bourse, whose year-to-date losses were at 18.83%.
Opening weak but to remain above 8,500 levels, the market saw strong selling pressure within the first 90 minutes, taking the index to a low of below 8,400 points, after which there was a sustained buying support in the remainder of the session but overall it settled 61 points lower.
Trade turnover and volumes were on the decline in the market, where telecom and banking sectors together accounted for about 77% of the total volumes.
The Total Return Index shed 0.71% to 14,206.37 points, Al Rayan Islamic Index by 0.82% to 3,389.5 points and All Share Index by 0.79% to 2,410.26 points.
The telecom index tanked 1.97%, transport (1.64%), realty (1.51%), industrials (1.2%), consumer goods (0.36%), insurance (0.31%) and banks and financial services (0.24%).
Major gainers included Qatar Islamic Bank, Doha Bank, Alijarah Holding, Nakilat, Mazaya Qatar and Medicare Group; while Aamal Company, Gulf International Services, Ooredoo, QIIB, Qatar First Bank, Dlala, Qatari German Company for Medical Devices, Milaha, Vodafone Qatar, Ezdan and Mazaya Qatar were among the losers.
Local retail investors turned net buyers to the extent of QR18.33mn compared with net sellers of QR5.11mn on September 11.
Non-Qatari institutions’ net profit booking weakened to QR18.64mn against QR20.24mn the previous day.
However, the GCC (Gulf Cooperation Council) retail investors were net sellers to the tune of QR6.09mn compared with net buyers of QR0.89mn on Monday.
Non-Qatari individual investors also turned net sellers to the extent of QR0.91mn against net buyers of QR2.31mn on September 11.
The GCC institutions’ net profit booking increased perceptibly to QR4.81mn compared to QR0.51mn the previous day.
Domestic institutions’ net buying weakened considerably to QR12.12mn against QR22.69mn on Monday.
Total trade volumes fell 18% to 9.05mn shares and value by 12% to QR205.74mn, while deals were up 4% to 3,229.
There was 77% plunge in the industrials sector’s trade volume to 0.68mn equities, 42% in value to QR26.55mn and 7% in transactions to 615.
The real estate sector’s trade volume plummeted 27% to 0.59mn stocks and value by 12% to QR10.78mn, whereas deals were up 1% to 375.
The banks and financial services sector saw 25% increase in trade volume to 2.52mn shares and 23% in value to QR95.09mn but on 2% jump in transactions to 1,159.
However, the insurance sector’s trade volume almost quadrupled to 0.19mn equities and value also almost quadrupled to QR11.47mn on 39% increase in deals to 163.
The transport sector’s trade volume more than doubled to 0.45mn stocks and value also more than doubled to QR13.77mn on 72% expansion in transactions to 369.
The telecom sector reported 28% surge in trade volume to 4.44mn shares and 10% in value to QR40.36mn but on 17% decline in deals to 354.
The consumer goods sector’s trade volume soared 27% to 0.19mn equities, value by 23% to QR7.71mn and transactions by 7% to 194.
In the debt market, there was no trading of treasury bills and government bonds.