The Qatar Stock Exchange continued to remain under bearish spell for the second day on Monday despite buying interests in the banking counter.
Increased buying support from non-Qatari funds and individuals notwithstanding, the 20-stock Qatar Index fell 0.24% to 7,856.99 points.
However, there was increased selling pressure from Gulf institutions and lower buying interests of local retail investors in the market, whose year-to-date losses were at 24.72%.
Islamic equities fell faster than the other indices on the bourse, whose capitalisation declined 0.55% to QR423.28bn.
Trade turnover and volumes were on the increase in the market, where real estate, banking and industrials sectors together accounted for about 68% of the total volume.
The Total Return Index shrank 0.24% to 13,175.71 points, All Share Index fell 0.68% to 2,161.69 points and Al Rayan Islamic Index by 0.35% to 2,990.72 points.
The telecom index plummeted 3.13%, realty (2.95%), insurance (1.8%), transport (0.78%), consumer goods (0.56%) and industrials (0.13%); whereas banks and financial services gained 0.18%.
Major gainers included Commercial Bank, Qatar National Cement, Industries Qatar and Mesaieed Petrochemical Holding; whereas Ooredoo, Ezdan, Mazaya Qatar, Milaha, Qatar Insurance, Qatar First Bank and Aamal Company were among the losers.
The GCC (Gulf Cooperation Council) fund’s net selling strengthened to QR2.59mn compared to QR1.1mn on November 12.
The GCC retail investors turned net sellers to the tune of QR0.94mn against net buyers of QR0.24mn on Sunday.
Domestic institutions’ net buying weakened perceptibly to QR6.48mn compared to QR8.22mn the previous day.
However, non-Qatari institutions’ net buying increased influentially to QR8.9mn against QR6.46mn on November 12.
Non-Qatari individual investors’ net buying grew marginally to QR0.9mn compared to QR0.53mn on Sunday.
Local retail investors’ net profit booking fell considerably to QR12.73mn against QR14.34mn the previous day.
Total trade volume rose 81% to 5.46mn shares, value by 82% to QR167.34mn and deals by 39% to 2,626.
The real estate sector’s trade volume more than quadrupled to 1.43mn equities and value more than tripled to QR19.04mn on more than doubled transactions to 398.
The insurance sector’s trade volume more than tripled to 0.21mn stocks and value grew more than six-fold to QR8.34mn on 89% jump in deals to 100.
The telecom sector’s trade volume more than doubled to 0.75mn shares and value more than doubled to QR11.16mn on 53% increase in transactions to 288.
There was 57% surge in the industrials sector’s trade volume to 1.07mn equities, 76% in value to QR31.89mn and 25% in deals to 543.
The consumer goods sector’s trade volume soared 50% to 0.12mn stocks and value by 64% to QR8.13, whereas transactions fell 7% to 115.
The banks and financial services sector saw 38% expansion in trade volume to 1.21mn shares, 98% in value to QR61.21mn and 41% in deals to 933.
However, the transport sector’s trade volume declined 3% to 0.73mn equities but value grew 8% to QR27.56mn and transactions by 7% to 249.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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