Foreign institutions’ net buying weakened perceptibly to drive the 20-stock Qatar Index down 0.25% to 10,925.4 points despite strengthening global crude prices on lower US inventories.
Non-Qatari individual investors and Gulf institutions turned profit-takers in the market, whose year-to-date gains were at 4.68%.
Islamic stocks saw slower decline vis-à-vis the main index as well as the other indices in the market, where there was also increased net selling by domestic institutions.
Trade turnover and volumes were on the decline in the bourse, where real estate, banking, consumer goods and insurance sectors together accounted for about 67% of the total volumes.
Market capitalisation shrank QR80mn, or 0.14%, to QR588.82bn.
The Total Return Index shed 0.21% to 17,810.49 points, the All Share Index by 0.13% to 3,022.15 points and the Al Rayan Islamic Index by 0.01% to 4,186.78 points.
The telecom sector saw its index plummet 3.09%, insurance (1.25%), realty (0.75%) and consumer goods (0.03%); whereas transport gained 1.32%, industrials (0.43%) and banks and financial services (0.15%).
More than 51% of the stocks were in the red with major losers being Ooredoo, Qatar Insurance, Industries Qatar, Gulf International Services, Mazaya Qatar, Barwa, Ezdan, Qatar Islamic Bank, Masraf Al Rayan, Dlala and Medicare Group.
Nevertheless, Nakilat, QNB, Commercial Bank, Doha Bank, Qatar Islamic Insurance, Vodafone Qatar, QIIB and Widam Food were among the gainers.
Non-Qatari institutions’ net buying fell substantially to QR76.87mn compared to QR100.51mn the previous day.
GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR0.82mn against net buyers of QR10.34mn on Wednesday.
Non-Qatari individual investors were also net sellers to the extent of QR4.31mn compared with net buyers of QR3.68mn on February 22.
Domestic institutions’ net profit-booking rose marginally to QR31.37mn against QR31.17mn the previous day.
However, local retail investors’ net buying declined considerably to QR44.22mn compared to QR87.62mn on Wednesday.
The GCC retail investors’ net buying fell perceptibly to QR3.36mn against QR4.26mn on February 22.
Total trade volume fell 19% to 11.24mn shares, value by 7% to QR454.04mn and deals by 6% to 5,851.
There was a 55% plunge in the real estate’s trade volume to 2.31mn equities, 50% in value to QR55.99mn and 25% in transactions to 849.
The industrials sector’s trade volume plummeted 39% to 1.35mn stocks, value by 35% to QR64.55mn and deals by 4% to 1,211.
The banks and financial services sector saw a 21% shrinkage in trade volume to 2.21mn shares, 19% in value to QR104.85mn and 29% in transactions to 1,392.
However, the insurance sector’s trade volume more than doubled to 1.43mn equities and value also more than doubled to QR72.62mn on an 86% surge in deals to 403.
The market witnessed a 51% surge in the consumer goods sector’s trade volume to 1.56mm stocks and 11% in value to QR78.95mn but on a 3% fall in transactions to 943.
The transport sector’s trade volume expanded 39% to 1.17 shares, value by 70% to QR39.82mn and deals by 36% to 513.
The telecom sector reported a 3% expansion in trade volume to 1.22mn equities, 56% in value to QR37.27mn and 74% in transactions to 540.
In the debt market, there was no trading of treasury bills and government bonds.
