The Qatar Stock Exchange on Tuesday witnessed strong buying interests within telecom and insurance counters, even as it settled in the negative.
Foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index fell 0.21% to 8,284.68 points.
Islamic equities were seen declining faster than the main index on the bourse, whose year-to-date losses were at 20.62%.
There was increased net selling by local retail investors and lower buying support from non-Qatari individuals in the market, whose capitalisation fell 0.28% to QR451.96bn.
The market witnessed sustained profit booking in the first 120 minutes after which there was some noticeable buying support but only to see selling for the next 15 minutes, taking the index to a low of near 8,240 points. However, there were some last minute purchases but it was not strong enough to overall impart a bullish run and the index settled 17 points lower.
Trade turnover and volumes were on the decline on the bourse, where telecom, industrials, banking and real estate sectors together accounted for about 92% of the total volume.
The Total Return Index fell 0.21% to 13,892.92 points, Al Rayan Islamic Index by 0.43% to 3,348.56 points and All Share Index by 0.54% to 2,345.22 points.
The telecom index gained 2.01%, insurance (1.51%) and transport (0.13%); whereas realty shrank 3.57%, banks and financial services (0.43%), consumer goods (0.16%) and industrials (0.05%).
Major gainers included Ooredoo, Gulf Warehousing, Qatar Insurance, Qatar Electricity and Water, Commercial Bank and Al Khaleej Takaful; even as Ezdan, Mazaya Qatar, al khaliji, Doha Bank, Salam International Investment, Qatari Investors Group and Vodafone Qatar were among the losers.
Non-Qatari institutions’ net buying declined marginally to QR12.34mn compared to QR13.92mn the previous day.
The GCC (Gulf Cooperation Council) retail investors turned net buyers to the tune of QR0.12mn against net sellers of QR0.5mn on Monday.
The GCC funds’ net buying strengthened impressively to QR1.71mn compared to QR0.7mn on October 2.
Domestic institutions’ net selling weakened perceptibly to QR11.92mn against QR14.07mn the previous day.
Local retail investors’ net profit booking increased to QR2.71mn compared to QR0.58mn on Monday.
Non-Qatari individual investors’ net buying weakened marginally to QR0.47mn against QR0.53mn on October 2.
Total trade volume fell 15% to 6.78mn shares, value by 11% to QR148.27mn and deals by 3% to 2,060.
There was 67% plunge in the insurance sector’s trade volume to 0.03mn equities, 68% in value to QR0.98mn and 69% in transactions to 32.
The telecom sector’s trade volume plummeted 38% to 1.81mn stocks and value by 2% to QR29.48mn, while deals expanded 45% to 386.
The market witnessed 29% shrinkage in the industrials sector’s trade volume to 1.73mn shares, 15% in value to QR30.15mn and 19% in transactions to 391.
The transport sector’s trade volume tanked 15% to 0.23mn equities and value by 18% to QR4.55mn, whereas deals were up 2% to 136.
The banks and financial services sector saw 12% decline in trade volume to 1.44mn shares, 21% in value to QR61.02mn and 27% in transactions to 559.
However, the consumer goods sector’s trade volume more than quadrupled to 0.3mn shares and value almost doubled to QR6.51mn on 24% increase in deals to 136.
The real estate sector’s trade volume more than doubled to 1.23mn equities, value soared 39% to QR15.58mn and transactions by 55% to 420.
On the debt market, there was no trading of treasury bills and government bonds.
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