Qatar Stock Exchange on Thursday witnessed profit booking for the second straight session to drive its key index below 11,000 levels.
Local retail investors’ net selling rather led the 20-stock Qatar Share Index shed 0.42% to 10,989.76 points although global oil prices were seen on an upswing to trade at more than $55 a barrel.
Realty and banking counters witnessed higher than average net selling in the bourse, whose year-to-date gains stood at 5.3%.
Gulf institutions’ weakened buying support and higher net selling by Gulf individual investors also played their role in the market, where domestic institutions however turned bullish.
Trade turnover and volumes were on the increase in the bourse, where real estate, banking and telecom sectors together accounted for more than three-fourth of the total volumes.
Market capitalisation eroded more than QR2bn or 0.36% to QR588.41bn as mid, large and microcap equities lost 0.42%, 0.38% and 0.15% respectively, while small caps gained 0.8%.
The Total Return Index fell 0.42% to 17,780.7 points, All Share Index by 0.38% to 3,006.81 points and Al Rayan Islamic Index by 0.31% to 4,099.64 points.
The realty sector saw its index shrank 1.36%, banks and financial services (0.81%), transport (0.24%) and consumer goods (0.03%), whereas telecom gained 1.28%, insurance (1.07%) and industrials (0.25%).
More than 57% of the stocks were in the red with major losers being QNB, Masraf Al Rayan, Ezdan, Barwa, Gulf Warehousing, Mesaieed Petrochemical Holding, Vodafone Qatar, Doha Bank, Alijarah Holding, Gulf International Services, Salam International Investment and Medicare Group.
Nevertheless, Qatar National Cement, Ooredoo, Qatar Insurance, Aamal Company, Commercial Bank, QIIB, Woqod and Widam Food were among the gainers.
Local retail investors turned net sellers to the tune of QR25.44mn compared with net buyers of QR10.09mn on January 25.
The GCC (Gulf Cooperation Council) institutions’ net buying declined to QR4.41mn against QR13.16mn on Wednesday.
The GCC retail investors’ net profit booking strengthened perceptibly to QR2.33mn compared to QR0.24mn the previous day.
However, domestic institutions turned net buyers to the extent of QR29.79mn against net profit takers of QR6.86mn on January 25.
Non-Qatari individual investors’ net buying increased to QR5mn compared to QR0.38mn on Wednesday.
Non-Qatari institutions’ net profit booking weakened to QR11.4mn against QR16.54mn the previous day.
Total trade volume rose 10% to 9.03mn shares, value by 28% to QR306.49mn and deals by 22% to 3,541.
The insurance sector’s trade volume grew more than six-fold to 0.38mn equities and value also by more than six-fold to QR31.64mn on 42% jump in transactions to 138.
There was 50% surge in the real estate sector’s trade volume to 3.4mn stocks, 30% in value to QR66.68mn and 22% in deals to 710.
The industrials sector’s trade volume soared 18% to 1.25mn shares, value by 87% to QR60.61mn and transactions by 37% to 633.
The market witnessed 13% increase in the consumer goods sector’s trade volume to 0.35mm equities but on 10% fall in value to QR18.29mn. Deals gained 25% to 320.
However, the transport sector’s trade volume plummeted 45% to 0.26mn stocks and value by 40% to QR8.55mn, whereas transactions expanded 25% to 125.
The telecom sector reported 17% plunge in trade volume to 1.56mn shares but on 38% expansion in value to QR26.6mn and 82% in deals to 325.
The banks and financial services sector’s trade volume declined 16% to 1.83mn equities and value by 4% to QR94.12mn but on 4% increase in transactions to 1,290.
In the debt market, there was no trading of treasury bills and government bonds.
The Qatar Share Index shed 0.42% to 10,989.76 points on Thursday.
