The Qatar Stock Exchange on Tuesday failed to break the 8,200 barrier as it veered into negative trajectory despite buying interests in transport and insurance counters.
Notwithstanding the weakened net selling by local retail investors and increased buying support from Gulf and non-Qatari individuals, the 20-stock Qatar Index snapped four days of bullish run to lose 0.38% to 8,165.06 points.
Islamic equities were, however, seen gaining on the bourse, whose year-to-date losses were seen at 21.77%.
However, the Gulf institutions turned bearish and there was increased net selling pressure from domestic funds in the market, whose capitalisation fell 0.48% to QR444.1bn.
"Only below 8,000 points would bring back to focus the low of year 2011 at around 7,500 points," Kamco analysts said, adding both weekly and daily relative strength index indicators are leaning more towards the bulls at present.
Trade turnover expanded amidst lower volumes on the bourse, where banking, real estate and industrials sectors together accounted for more than 72% of the total volume.
The Total Return Index declined 0.38% to 13,692.32 points and All Share Index by 0.53% to 2,286.66 points, while Al Rayan Islamic Index grew 0.37% to 3,211.42 points.
The industrials index soared 0.46% and transport 0.12%; whereas telecom shrank 2.09%, realty (1.52%), consumer goods (1.18%), insurance (0.59%) and banks and financial services (0.45%).
Major gainers include Commercial Bank, QIIB, Al Khaliji, Qatar National Cement, Industries Qatar, Aamal Company, Qatari Investors Group, Barwa, Nakilat and Gulf Warehousing; even as Doha Bank, Masraf Al Rayan, Qatar First Bank, Woqod, Ezdan, Mazaya Qatar and Ooredoo were among the losers.
Local retail investors’ net profit booking weakened considerably to QR2.61mn compared to QR24.27mn on October 28.
Non-Qatari individual investors’ net buying strengthened perceptibly to QR6mn against QR0.87mn the previous day.
The GCC (Gulf Cooperation Council) retail investors’ net buying increased to QR1.11mn compared to QR0.12mn on Monday.
Domestic institutions’ net profit booking rose influentially to QR5.01mn against QR3.24mn on October 28.
The GCC funds turned net sellers to the extent of QR3.02mn compared with net buyers of QR6.65mn the previous day.
Non-Qatari institutions’ net buying declined substantially to QR3.55mn against QR19.86mn on Monday.
Total trade volume fell 25% to 4.9mn shares, while value rose 5% to QR140.3mn and deals by 25% to 2,982.
There was 44% plunge in the real estate sector’s trade volume to 0.96mn equities, 30% in value to QR14.14mn and 16% in transactions to 403.
The industrials sector’s trade volume plummeted 41% to 0.96mn stocks, whereas value grew 43% to QR27.99mn and deals by 64% to 636.
The telecom sector reported 34% shrinkage in trade volume to 0.31mn shares and 1% in value to QR8.84mn but on 51% increase in transactions to 237.
The banks and financial services sector’s trade volume tanked 29% to 1.63mn equities and value by 32% to QR47.99mn, while deals were up 3% to 967.
The consumer goods sector saw 3% fall in trade volume to 0.29mn stocks but on 79% expansion in value to QR18.97mn and 21% in transactions to 235.
However, the insurance sector’s trade volume grew more than six-fold to 0.24mn shares and value by almost six-fold to QR7.2mn on more than tripled deals to 164.
The transport sector’s trade volume more than quadrupled to 0.5mn equities and value rose more than six-fold to QR15.17mn on 74% surge in transactions to 340.
In the debt market, there was no trading of government bonds and treasury bills.