The Qatar Stock Exchange on Wednesday snapped five consecutive days of bullish run and its key index lost 48 points to settle below the 10,900 level, mainly on profit booking in realty and industrials stocks.
Foreign institutions and Gulf individual investors turned net sellers as the 20-stock Qatar Share Index fell 0.44% to 10,880.15 points although global oil prices weakened.
However, Gulf institutions as well as non-Qatari and local retail investors turned bullish on the bourse, where net selling was predominant among small cap equities.
Islamic stocks were seen declining slower than the other indices in the market, whose year-to-date gains were at 4.25%.
Trade turnover and volumes declined perceptibly on the bourse, where banking, real estate and telecom sectors together accounted for more than 69% of the total volumes.
Market capitalisation shrank more than QR2bn or 0.37% to QR581.25bn with small, micro and large cap equities falling 0.48%, 0.3% and 0.25% respectively, while midcaps were up 0.15%.
The Total Return Index declined 0.44% to 17,603.36 points, All Share Index by 0.36% to 2,976.93 points and Al Rayan Islamic Index by 0.12% to 4,070.22 points.
The realty sector saw its index slump 1.01%, industrials (0.53%), insurance (0.43%), banks and financial services (0.27%) and transport (0.06%), while consumer goods and telecom gained 0.66% and 0.33% respectively.
More than 58% of the traded stocks were in the red with major losers being Ezdan, Aamal Company, Gulf International Services, Qatar Insurance, QNB, Commercial Bank, Doha Bank, Qatar First Bank, Alijarah Holding, Industries Qatar, Nakilat and Mesaieed Petrochemical Holding; even as Vodafone Qatar, Ooredoo, Barwa, Woqod, Qatari German Company for Medical Devices and Medicare Group were among the gainers.
Non-Qatari institutions turned net profit takers to the extent of QR3.53mn compared with net buyers of QR41.49mn on January 17.
The GCC (Gulf Cooperation Council) retail investors were also net sellers to the tune of QR1.75mn against net buyers of QR11.49mn on Tuesday.
However, the GCC institutions turned net buyers to the extent of QR9.4mn compared with net sellers of QR7.66mn the previous day.
Non-Qatari individual investors also turned net buyers to the tune of QR7.22mn against net sellers of QR11.73mn on January 17.
Domestic institutions were net buyers to the extent of QR6.72mn compared with net profit takers of QR17.45mn on Tuesday.
Local retail investors were net buyers to tune of QR0.74mn against net sellers of QR16.19mn the previous day.
Total trade volume fell 37% to 10.29mn shares, value by 31% to QR335.81mn and deals by 8% to 4,873.
There was 71% plunge in the real estate sector’s trade volume to 2.2mn equities, 70% in value to QR47.27m and 39% in transactions to 892.
The industrials sector’s trade volume plummeted 54% to 1.08mn stocks, value by 43% to QR55.75mn and deals by 16% to 724.
The transport sector reported 49% shrinkage in trade volume to 0.46mn shares, 45% in value to QR13.8mn and 35% in transactions to 253.
The telecom sector’s trade volume tanked 13% to 1.54mn equities and value by 29% to QR17.29mn, while deals gained 71% to 476.
However, the consumer goods sector’s trade volume almost tripled to 1.51m stocks and value more than tripled to QR92.13mn on 80% expansion in transactions to 846.
The market witnessed 57% surge in the insurance sector’s trade volume to 0.11mn shares, 73% in value to QR7.02mn and 79% in deals to 131.
The banks and financial services sector’s trade volume was up 6% to 3.38mn equities, whereas value declined 30% to QR102.55mn and transactions by 13% to 1,551.
In the debt market, there was no trading of treasury bills and government bonds.