Local retail investors and domestic institutions lend considerable buying support to the Qatar Stock Exchange, which however weakened for the second straight session to settle at little over 8,300 points.
Notwithstanding strengthened buying by Gulf institutions and lower selling pressure from Gulf and non-Qatari individuals, the 20-stock Qatar Index fell another 1.29% to 8,312.43 points.
Islamic equities were seen dropping slower than the main index in the bourse, whose year-to-date losses were at 20.35%.
However, profit-booking pressure from foreign institutions considerably increased in the market, whose capitalisation eroded 1.35% to QR454.61bn.
"The nearby support levels are at 8,400 points, 8,350 points and 8,265 points but only below the last level would re-instate the bearish tone and trigger 8,000 points," Kamco analysts said.
Trade turnover and volumes on the increase in the bourse, where banking and industrials sectors together accounted for about 65% of the total volume.
The Total Return Index fell 1.29% to 13,939.45 points, the Al Rayan Islamic Index by 1.08% to 3,383.56 points and the All Share Index by 1.44% to 2,369.22 points.
The realty index tanked 2.99%, followed by insurance (1.91%), consumer goods (1.61%), banks and financial services (1.5%), telecom (1.1%), industrials (1.05%) and transport (0.96%).
Major gainers included Zad Holding, Mannai Corporation, Mazaya Qatar, Investment Holding Group, Qatar Oman Investment and Alijarah Holding; even as Ezdan, Gulf Warehousing, QNB, Industries Qatar, Ooredoo, Qatar Insurance, Commercial Bank, Qatar Islamic Bank and Masraf Al Rayan were among the losers.
Non-Qatari institutions’ net profit-booking strengthened influentially to QR50.58mn against QR9.26mn on Wednesday.
However, local retail investors’ net buying increased considerably to QR23.34mn compared to QR8.14mn on September 27.
Domestic institutions’ net buying also shot up perceptibly to QR26.4mn against QR5.39mn the previous day.
The GCC (Gulf Cooperation Council) funds’ net buying rose marginally to QR1.65mn compared to QR0.97mn on Wednesday.
Non-Qatari individual investors’ net selling weakened to QR0.56mn against QR2.79mn on September 27.
The GCC retail investors’ net profit-booking also declined to QR0.25mn compared to QR2.42mn the previous day.
Total trade volume fell 23% to 10.41mn shares, value by 40% to QR181.67mn and deals by 29% to 2,512.
There was a 73% plunge in the insurance sector’s trade volume to 0.06mn equities, 72% in value to QR3.22mn and 54% in transactions to 66.
The transport sector’s trade volume plummeted 53% to 0.22mn stocks, value by 56% to QR5.69mn and deals by 23% to 166.
The market witnessed a 50% shrinkage in the industrials sector’s trade volume to 2.21mn shares, 50% in value to QR34.42mn and 33% in transactions to 598.
The banks and financial services sector’s trade volume declined 17% to 4.54mn equities, value by 40% to QR94.52mn and deals by 16% to 1,143.
However, the real estate sector saw a 14% surge in trade volume to 1.55mn stocks, but on a 19% decline in value to QR21.08mn and 57% in transactions to 229.
The consumer goods sector’s trade volume expanded 13% to 0.18mn shares and value by 1% to QR7.05mn; whereas deals were down 7% to 164.
The market witnessed a 6% rise in the telecom sector’s trade volume to 1.65mn equities but on 16% slump in value to QR15.68mn and 36% in transactions to 146.
In the debt market, there was no trading of treasury bills and government bonds.
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