Robust buying interests of domestic institutions and local retail investors notwithstanding, the Qatar Stock Exchange fell for the second day on Wednesday and its key barometer settled below 8,200 levels.
An across-the-board selling – particularly in real estate, insurance and telecom – led the 20-stock Qatar Index decline 1.59% to a five-year low of 8,152.98 points.
Islamic equities were seen declining faster than the main index on the bourse, whose year-to-date losses were at 21.88%. Foreign and Gulf institutions as well as Gulf individuals turned net sellers in the market, whose capitalisation fell 1.53% to QR445.04bn.
The market witnessed a slow rather steady decline for most part of the session but a sudden plunge especially in the last few trading minutes handed the market overall a 132 points hit.
Trade turnover and volumes were on the increase on the bourse, where banking, industrials and telecom sectors together accounted for more than 68% of the total volume.
The Total Return Index fell 1.59% to 13,672.06 points, Al Rayan Islamic Index by 1.72% to 3,290.81 points and All Share Index by 1.85% to 2,301.74 points.
The realty index tanked 4.22%, insurance (2.48%), telecom (2.03%), transport (1.86%), banks and financial services (1.47%), consumer goods (1.13%) and industrials (0.92%).Major gainers included Dlala, Ahli Bank, Salam International Investment, Qatar Electricity and Water, Al Khaleej Takaful and Vodafone Qatar; even as Ezdan, Gulf Warehousing, Nakilat, Commercial Bank, Doha Bank, QIIB, Gulf International Services, Qatari Investors Group, Qatar Insurance, Barwa and Ooredoo were among the losers.
Domestic institutions turned net buyers to the tune of QR8.64mn compared with net sellers of QR11.92mn the previous day.
Local retail investors were also net buyers to the extent of QR5.82mn against net profit takers of QR2.71mn on Tuesday.
However, non-Qatari institutions turned net sellers to the tune of QR14.3mn compared with net buyers of QR12.34mn on October 3.
The GCC (Gulf Cooperation Council) funds were net sellers to the extent of QR0.58mn against net buyers of QR1.71mn the previous day.
The GCC retail investors turned net profit takers to the tune of QR0.05mn compared with net buyers of QR0.12mn on Tuesday.
Non-Qatari individual investors’ net buying weakened marginally to QR0.43mn against QR0.47mn on October 3.
Total trade volume rose 28% to 8.69mn shares, value by 27% to QR181.22mn and deals by 2% to 2,098.
The transport sector’s trade volume more than tripled to 0.77mn equities and value also more than tripled to QR15.82mn on more than doubled transactions to 360.
The banks and financial services sector’s trade volume more than doubled to 2.9mn stocks, value soared 63% to QR99.34mn and deals by 19% to 666.
There was 67% surge in the insurance sector’s trade volume to 0.05mn shares to see more than doubling of value to QR2.51mn and transactions to 72 respectively.
The real estate sector’s trade volume shot up 53% to 1.88mn equities and value by 41% to QR22mn, whereas deals shrank 25% to 314.
The consumer goods sector saw 50% increase in trade volume to 0.45mn stocks but on 1% fall in value to QR6.47mn and 33% in transactions to 91.
The industrials sector’s trade volume expanded 17% to 2.02mn shares but value was down 9% to QR27.5mn despite 25% higher deals to 489.
However, the telecom sector reported 66% plunge in trade volume to 0.62mn equities, 74% in value to QR7.59mn and 73% in transactions to 106.
In the debt market, there was no trading of treasury bills and government bonds.
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