The Qatar Stock Exchange on Wednesday settled below 7,800 levels on an across-the-board selling, particularly in real estate, transport and industrials counters.
Notwithstanding the buying support from local retail investors and weakened selling from the Gulf institutions, the 20-stock Qatar Index fell 1.43% to hit a fresh six-year low of 7,761.25 points.
However, foreign funds turned net sellers and there was lower buying support from domestic funds in the market, whose year-to-date losses were at 25.64%.
Islamic equities were seen declining slower than other indices on the bourse, whose capitalisation fell 1.37% to QR418.69bn.
Trade turnover shrank amidst higher volumes in the market, where banking and telecom sectors together accounted for about 54% of the total volume.
The Total Return Index shed 1.43% to 13,015.16 points, All Share Index by 1.53% to 2,133.56 points and Al Rayan Islamic Index by 1.44% to 2,946.82 points.
The realty index plunged 4.23%, transport (2.35%), industrials (1.6%), banks and financial services (1.12%), telecom (0.67%) and consumer goods (0.51%); whereas insurance gained 0.57%.
Major gainers included Qatar Insurance, Vodafone Qatar and Gulf Warehousing; even as Commercial Bank, Doha Bank, Qatar Islamic Bank, Qatar First Bank, Industries Qatar, Gulf International Services, Ezdan, Barwa, Milaha and Nakilat were among the losers.
Non-Qatari institutions turned net sellers to the tune of QR22.77mn compared with net buyers of QR32.86mn on November 14.
Domestic institutions’ net buying weakened perceptibly to QR2.32mn against QR5.48mn the previous day.
However, local retail investors were net buyers to the extent of QR16.6mn compared with net sellers of QR17.85mn on Tuesday.
Non-Qatari individual investors’ net buying strengthened considerably to QR5.72mn against QR0.75mn on November 14.
The GCC (Gulf Cooperation Council) retail investors turned net buyers to the tune of QR0.15mn compared with net sellers of QR1.26mn the previous day.
The GCC institutions’ net buying declined influentially to QR2.03mn against QR19.98mn on Tuesday.
Total trade volume rose 22% to 6.95mn shares, while value fell 8% to QR189.93mn and deals by 15% to 2,653.
The transport sector’s trade volume more than doubled to 0.86mn equities and value more than tripled to QR25.2mn on 42% increase in transactions to 320.
The telecom sector’s trade volume more than doubled to 1.61mn stocks, whereas value fell 5% to QR14.67mn and deals by 40% to 251.
The banks and financial services sector saw 4% jump in trade volume to 2.13mn shares but on 8% fall in value to QR87.94mn and 15% in transactions to 950.
However, the consumer goods sector’s trade volume plummeted 17% to 0.15mn equities, value by 22% to QR10.1 and deals by 29% to 218.
There was 15% plunge in the real estate sector’s trade volume to 0.94mn stocks and 28% in value to QR10.98mn but on 50% expansion in transactions to 371.
The industrials sector’s trade volume tanked 9% to 0.75mn shares, value by 35% to QR27.9mn and deals by 9% to 443.
The insurance sector reported 6% decline in trade volume to 0.5mn equities, 9% in value to QR13.14mn and 67% in transactions to 100.
In the debt market, there was no trading of treasury bills and sovereign bonds.