The Qatar Stock Exchange remained flat on Thursday despite selling pressure in the realty and telecom counters.
Although non-Qatari individuals turned bullish and local retail investors’ net selling weakened, the 20-stock Qatar Index stood at 8,128.25 points, up mere 0.04%.
Islamic equities witnessed selling pressure in the bourse, whose year-to-date losses were at 22.12%.
However, non-Qatari funds’ buying support weakened considerably and there was marginal increase in net selling by their domestic counters in the market, whose capitalisation was down 0.03% to QR442.2bn.
The market witnessed volatility during the entire trading session although it touched a low of about 8,100 points before winding up four points higher.
Trade turnover and volumes were on the decline in the bourse, where the real estate, industrials and banking sectors together accounted for more than 78% of the total volume.
The Total Return Index was up 0.04% to 13,630.6 points, whereas the Al Rayan Islamic Index fell 0.17% to 3,183.02 points and the All Share Index by 0.15% to 2,273.81 points.
The consumer goods index gained 1.6%, industrials (0.28%) and banks and financial services (0.07%); while realty declined 1.52%, transport (1.29%), insurance (0.53%) and telecom (0.2%).
Major gainers included Woqod, Qatar Islamic Bank, Doha Bank, Qatari German Company for Medical Devices, Gulf International Services, Mesaieed Petrochemical Holding and United Development Company; even as QNB, Qatar National Cement, Qatar Insurance, Ezdan, Barwa, Vodafone Qatar, Nakilat and Milaha were among the losers.
Non-Qatari individual investors turned net buyers to the tune of QR1.97mn compared with net sellers of QR3.32mn on Wednesday.
The GCC (Gulf Cooperation Council) funds’ net buying increased marginally to QR0.44mn against QR0.16mn on October 25.
The GCC retail investors turned net buyers to the extent of QR0.39mn compared with net sellers of QR0.02mn the previous day.
Local retail investors’ net profit-booking declined substantially to QR2.48mn against QR20.93mn on Wednesday.
However, non-Qatari institutions’ net buying weakened considerably to QR3.7mn compared to QR27.23mn on October 25.
Domestic institutions’ net profit-booking grew marginally to QR4.02mn against QR3.14mn the previous day.
Total trade volume fell 55% to 3.75mn shares, value by 17% to QR150.57mn and deals by 6% to 2,059.
There was an 83% plunge in the consumer goods sector’s trade volume to 0.08mn equities and 79% in value to QR6.31mn but on 5% increase in transactions to 154.
The telecom sector’s trade volume plummeted 76% to 0.55mn stocks, value by 79% to QR6.93mn and deals by 49% to 164.
The banks and financial services sector saw a 72% shrinkage in trade volume to 0.98mn shares, 59% in value to QR32.78mn and 33% in transactions to 509.
The insurance sector’s trade volume tanked 71% to 0.02mn equities, value by 76% to QR0.71mn and deals by 3% to 30.
The real estate sector reported an 11% decline in trade volume to 1.07mn stocks but on 9% increase in value to QR15.23mn and 71% in transactions to 497.
However, the transport sector’s trade volume grew 13% to 0.17mn shares but to see more than doubled value to QR6.17mn despite 7% lower deals to 179.
Although the industrials sector’s trade volume was flat at 0.94mn equities, value more than quadrupled to QR82.44mn on 16% jump in transactions to 526.
In the debt market, there was no trading of government bonds and treasury bills.