Five of the seven sectors — notably insurance, consumer goods and realty — reeled under selling pressure, leading the 20-stock Qatar Share Index shed 0.2% to 11,035.61 points as global oil prices were on the downswing to trade at less than $55 a barrel.
Foreign and domestic institutions turned net profit takers in the bourse, whose year-to-date gains were at 5.74%.
Islamic stocks were seen declining faster than the conventional ones on the bourse, where local retail investors turned bullish and there was also higher buying support from Gulf institutions.
Trade turnover declined amidst higher volumes on the bourse, where real estate, banking and telecom sectors together accounted for about 77% of the total volumes.
Market capitalisation eroded more than QR1bn or 0.18% to QR590.55bn with micro, small, large and midcap equities losing 0.69%, 0.63%, 0.03% and 0.2% respectively.
The Total Return Index fell 0.2% to 17,854.89 points, All Share Index by 0.23% to 3,018.13 points and Al Rayan Islamic Index by 0.35% to 4,112.58 points.
The insurance sector saw its index decline 1.47%, consumer goods (1.19%), realty (0.66%), industrials (0.35%) and telecom (0.27%), whereas banks and financial services gained 0.32% and transport 0.04%.
About 62% of the stocks were in the red with major losers being Qatar Insurance, Woqod, Barwa, Mazaya Qatar, Ezdan, Industries Qatar, Aamal Company, Vodafone Qatar, Ooredoo and Alijarah Holding.
Nevertheless, Masraf Al Rayan, Commercial Bank, Doha Bank, al khaliji, Mesaieed Petrochemical Holding, Gulf International Services and United Development Company were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR16.54mn compared with net buyers of QR27.52mn on Tuesday.
Domestic institutions were also net profit takers to the extent of QR6.86mn against net buyers of QR37.41mn the previous day.
However, local retail investors turned net buyers to the tune of QR10.09mn compared with net sellers of QR68.41mn on January 24.
The GCC (Gulf Cooperation Council) institutions’ net buying increased to QR13.16mn against QR6.7mn on Tuesday.
Non-Qatari individual investors turned net buyers to the extent of QR0.38mn compared with net sellers of QR0.51mn the previous day.
The GCC retail investors’ net profit booking weakened perceptibly to QR0.24mn against QR2.77mn on Tuesday.
Total trade volume rose 11% to 8.24mn shares, while value fell 10% to QR239.69mn and deals by 24% to 2,911.
There was 76% plunge in the insurance sector’s trade volume to 0.06mn equities, 77% in value to QR4.58mn and 42% in transactions to 97.
The consumer goods sector’s trade volume plummeted 35% to 0.31mm stocks, value by 17% to QR20.28mn and deals by 31% to 255.
The banks and financial services sector saw 21% shrinkage in trade volume to 2.19mn shares, 11% in value to QR97.72mn and 18% in transactions to 1,235.
The real estate sector’s trade volume was down 3% to 2.26mn equities, value by 2% to QR51.22mn and deals by 31% to 583.
However, the telecom sector’s trade volume more than tripled to 1.89mn stocks and value soared 87% to QR19.21mn, while transactions shrank 32% to 179.
The transport sector’s trade volume almost tripled to 0.47mn shares and value more than doubled to QR14.26mn but on 29% decline in deals to 100.
The industrials sector reported 22% expansion in trade volume to 1.06mn shares but on 24% fall in value to QR32.42mn and 16% in transactions to 462.
In the debt market, there was no trading of treasury bills and government bonds.
