The Qatar Stock Exchange on Sunday opened the week weak despite buying interests at the insurance and telecom counters.
Domestic institutions were seen bullish amidst a 0.13% fall in the 20-stock Qatar Index to 7,875.63 points, which is reflective of overall bearish sentiments across the Gulf region.
Gulf individuals were net buyers and there was lower net selling pressure from the regional funds in the market, whose year-to-date losses were at 24.54%.
Islamic equities fell faster than the other indices in the bourse, whose capitalisation declined 0.18% to QR425.6bn.
Trade turnover and volumes were on the decline in the market, where the banking, transport and industrials sectors together accounted for more than 76% of the total volume.
The Total Return Index shrank 0.13% to 13,206.97 points, the All Share Index fell 0.16% to 2,176.55 points and the Al Rayan Islamic Index by 0.81% to 3,001.08 points.
The insurance and telecom indices grew 1% and 0.8% respectively; while consumer goods fell 0.89%, industrials (0.44%), transport (0.indices grew 1% and 0.8% respectively; while consumer goods fell 0.89%, industrials (0.44%), transport and realty (0.32% each), and banks and financial services (0.13%).
Major gainers included Commercial Bank, Doha Bank, al khaliji, Alijarah Holding, Qatar Insurance, Industries Qatar and Ooredoo; whereas Qatar First Bank, Dlala, Medicare Group, Woqod, Qatar National Cement and Gulf International Services were among the losers.
Domestic institutions turned net buyers to the tune of QR8.22mn compared with net sellers of QR1.71mn last Thursday.
GCC (Gulf Cooperation Council) fund’ net selling weakened to QR1.1mn against QR5.8mn the previous trading day.
GCC retail investors’ net profit-booking declined to QR0.24mn compared to QR0.45mn on November 9.
Local retail investors’ net selling strengthened considerably to QR14.34mn against QR11.39mn last Thursday.
Non-Qatari institutions’ net buying weakened substantially to QR6.46mn compared to QR18.55mn the previous trading day.
Non-Qatari individual investors’ net buying fell marginally to QR0.53mn against QR0.78mn on November 9.
Total trade volume fell 43% to 3.02mn shares, value by 37% to QR91.83mn and deals by 32% to 1,893.
There was a 91% plunge in the insurance sector’s trade volume to 0.06mn equities, 85% in value to QR1.3mn and 31% in transactions to 53.
The real estate sector’s trade volume plummeted 72% to 0.33mn stocks, value by 61% to QR5.56mn and deals by 38% to 198.
The market witnessed a 58% shrinkage in the consumer goods sector’s trade volume to 0.08mn shares, 60% in value to QR4.97 and 19% in transactions to 124.
The banks and financial services sector’s trade volume tanked 46% to 0.88mn equities, value by 48% to QR30.93mn and deals by 44% to 663.
The industrials sector reported a 33% decline in trade volume to 0.68mn stocks, value by 47% to QR18.16mn and transactions by 24% to 434.
The telecom sector’s trade volume shrank 17% to 0.25mn shares, value by 16% to QR5.47mn and deals by 15% to 188.
However, the transport sector’s trade volume more than doubled to 0.75mn equities and value also more than doubled to QR25.44mn but on a 9% fall in transactions to 233.
In the debt market, there was no trading of treasury bills and sovereign bonds.