Realty, banks, transport and consumer goods counters witnessed higher than average selling pressure, resulting in the 20-stock Qatar Index shrink 0.43% to 9,740.8 points, although trade turnover and volumes were on the rise. The market’s year-to-date losses are seen at 6.6%.
The bearish sentiments comes amidst rally in the global energy market where prices rose to a month’s high on expectations of production cut deal in the meeting of oil producers on November 30.
Non-Qatari individuals’ buying support was seen weakening in the market, where Islamic stocks fell faster than the conventional ones.
However, domestic institutions’ net buying strengthened in the bourse, where telecom and banking stocks together constituted about 69% of the total trade volume.
Market capitalisation eroded about QR3bn or 0.52% to QR526.52bn mainly on 1.16% and 0.4% fall in small and large cap equities; even as microcaps rose 0.26%.
The Total Return Index shed 0.43% to 15,759.97 points, All Share Index fell 0.46% to 2,690.6 points and Al Rayan Islamic Index by 0.65% to 3,584.84 points.
Real estate sector saw its index decline 0.9%, banks and financial services (0.54%), transport (0.52%), consumer goods (0.51%), industrials (0.25%) and telecom (0.15%); while insurance rose 0.23%.
Among the major losers were Commercial Bank, Qatar First Bank, Vodafone Qatar, Gulf Warehousing, QNB, QIIB, Industries Qatar, Mesaieed Petrochemical Holding, United Development Company and Ezdan.
Nevertheless, Gulf International Services, Qatar Insurance and Qatari Investors Group aw their stocks make modest gains.
Local retail investors’ net selling strengthened considerably to QR70.61mn compared to QR21.59mn on Monday.
Non-Qatari institutions’ net profit booking increased to QR10.99mn against QR3.57mn the previous day.
Non-Qatari individual investors’ net buying weakened to QR3.16mn compared to QR6.77mn on November 21.
However, domestic institutions’ net buying strengthened substantially to QR64.5mn against QR12.29mn on Monday.
The GCC (Gulf Cooperation Council) institutions’ net buying strengthened to QR12.98mn compared to QR5.77mn the previous day.
The GCC individual investors’ net buying increased to QR0.93mn against QR0.32mn on November 21.
Total trade volume rose 6% to 6.65mn shares and value by 55% to QR245.33mn, while deals fell 2% to 3,046.
The transport sector’s trade volume more than tripled to 0.34mn equities and value more than quadrupled to QR14.22mn on 58% rise in transactions to 169.
There was 64% surge in the industrials sector’s trade volume to 0.54mn stocks, 5% in value to QR25.89mn and 21% in deals to 524.
The telecom sector’s trade volume expanded 24% to 2.61mn shares and value by 31% to QR34.52mn; whereas transactions shrank 20% to 650.
However, the insurance sector’s trade volume plummeted 50% to 0.03mn equities, value by 49% to QR2.06mn and deals by 32% to 67.
The real estate sector reported 21% plunge in trade volume to 0.95mn stocks, 7% in value to QR20.1mn and 8% in transactions to 363.
The banks and financial services sector’s trade volume tanked 13% to 1.95mn stocks but value soared 94% to QR134.01mn. Deals were down 5% to 994.
The market witnessed 4% decline in the consumer goods sector’s trade volume to 0.23mn equities but on 47% increase in value to QR14.54mn and 27% in transactions to 279.
In the debt market, there was no trading of treasury bills and government bonds.
