Robust buying in the telecom counter on Monday helped lessen the overall selling pressure in the remaining six counters at the Qatar Stock Exchange.
Notwithstanding the bullish outlook of the Gulf funds and individuals as well as stronger net buying interests of local retail investors, the 20-stock Qatar Index fell 0.25% to 7,808.15 points.
There was increased profit booking by domestic institutions and substantially lower buying support from their non-Qatar counterparts in the market, whose year-to-date losses were at 25.19%.
Islamic equities were seen dropping faster than the other indices in the bourse, whose capitalisation shrank 0.51% to QR417.4bn.
Trade turnover and volumes were on the increase in the market, where banking and industrials sectors together accounted for more than 70% of the total volume.
The Total Return Index fell 0.25% to 13,093.85 points, Al Rayan Islamic Index by 1.26% to 2,909.84 points and All Share Index by 0.79% to 2,115.57 points. The telecom index soared 7.69%, while consumer goods shrank 3.54%, realty (2.45%), banks and financial services (1.06%), transport (0.83%) and industrials (0.76%).
Major gainers included Ooredoo, Gulf Warehousing, Qatar General and Reinsurance, Mesaieed Petrochemical Holding, Gulf International Services and Al Khaliji; even as QNB, Commercial bank, Qatar First Bank, Qatar National Cement, Qatar Insurance, United Development Company, Ezdan, Mazaya Qatar and Nakilat were among the losers.
Domestic institutions’ net profit booking increased perceptibly to QR8.59mn compared to QR6.72mn on November 19.
Non-Qatari institutions’ net buying weakened considerably to QR6.2mn against QR16.89mn the previous day.
However, local retail investors’ net buying rose marginally to QR3.8mn compared to QR3.26mn on Sunday.
The GCC (Gulf Cooperation Council) institutions were net buyers to the tune of QR1.05mn against net sellers of QR5.74mn on November 19.
The GCC retail investors were also net buyers to the extent of QR0.6mn compared with net sellers of QR0.16mn the previous day.
Non-Qatari individual investors’ net profit booking weakened substantially to QR3.07mn against QR7.53mn on Sunday.
Total trade volume more than tripled to 6.62mn shares, value soared 86% to QR166.73mn and deals by 59% to 2,667.
The industrials sector’s trade volume almost quadrupled to 1.95mn equities and value more than doubled to QR43.14mn on 67% increase in transactions to 603.
The banks and financial services sector’s trade volume almost quadrupled to 2.69mn stocks, value expanded 76% to QR84.19mn and deals by 92% to 921.
The telecom sector’s trade volume more than tripled to 0.76mn shares and value also more than tripled to QR11.88mn on 88% increase in transactions to 231. The transport sector reported 88% surge in trade volume to 0.45mn equities to see more than doubled value to QR11.3mn despite 1% fall in deals to 224.
The real estate sector’s trade volume expanded 71% to 0.6mn stocks and value by 50% to QR7.09mn on more than doubled transactions to 417.
There was 7% rise in the consumer goods sector’s trade volume to 0.15mn shares and 8% in value to QR8.27mn but on 3% decline in deals to 233.
However, the insurance sector’s trade volume plummeted 33% to 0.02mn equities, value by 23% to QR0.85mn and 17% in transactions to 38.
In the debt market, there was no trading of treasury bills and sovereign bonds.