The Qatar Stock Exchange saw Islamic equities gain but overall it settled in the negative, failing to cross 7,800 levels.
Notwithstanding the increased buying interests of local and Gulf retail investors and bullish outlook of foreign funds, the 20-stock Qatar Index lost 0.72% to 7,742.46 points.
Domestic funds turned bearish and there was a marginally higher profit booking from non-Qatari institutions in the market, whose year-to-date losses were at 25.82%.
The bourse’s capitalisation declined 0.57% to QR418.06bn.
Trade turnover and volumes were on the decline in the market, where industrials, real estate and banking sectors together accounted for about 84% of the total volume.
The Total Return Index fell 0.72% to 12,983.65 points and the All Share Index by 0.66% to 2,120.23 points, while the Al Rayan Islamic Index grew 0.49% to 2,964.66 points.
The industrials index gained 1.52%, followed by transport (0.3%) and industrials (0.11%); whereas telecom shrank 2.67%, insurance (2.27%), banks and financial services (1.07%) and realty (0.06%).
Major gainers included Qatar First Bank, Alijarah Holding, Islamic Holding Group, Medicare Group, Widam Food, Qatari Investors Group, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Mazaya Qatar and Gulf Warehousing.
Nevertheless, QNB, Commercial Bank, Qatar Insurance, Al Khaleej Takaful, Barwa, Ooredoo and Vodafone Qatar were among the losers.
Domestic institutions turned net sellers to the tune of QR6.58mn compared with net buyers of QR7.72mn on Wednesday.
The GCC (Gulf Cooperation Council) funds’ net selling rose marginally to QR17.46mn against QR16.92mn on November 22.
Non-Qatari individual investors’ net buying weakened perceptibly to QR2.5mn compared to QR8.66mn the previous day.
However, local retail investors’ net buying strengthened considerably to QR19.49mn against QR8.56mn on Wednesday.
Non-Qatari institutions turned net buyers to the extent of QR1.41mn compared with net sellers of QR8.39mn on November 22.
The GCC retail investors’ net buying increased marginally to QR0.64mn against QR0.38mn the previous day.
Total trade volume fell 15% to 9.09mn shares, value by 25% to QR160.17mn and deals by 15% to 3,209.
There was a 77% plunge in the telecom sector’s trade volume to 0.37mn equities, 58% in value to QR6.93mn and 16% in transactions to 255.
The consumer goods sector’s trade volume plummeted 55% to 0.55mn stocks, value by 49% to QR12.85mn and deals by 48% to 348.
The transport sector reported a 41% shrinkage in trade volume to 0.41mn shares, 30% in value to QR10.33mn and 13% in transactions to 268.
The insurance sector’s trade volume tanked 33% to 0.16mn equities, value by 19% to QR4.1mn and deals by 15% to 82.
The market witnessed a 3% fall in the industrials sector’s trade volume to 3.32mn stocks and 29% in value to QR49.68mn but on a 22% expansion in transactions to 992.
However, the real estate sector’s trade volume soared 30% to 2.23mn shares and value by 27% to QR27.46mn, whereas deals shrank 20% to 591.
The banks and financial services sector saw an 18% jump in trade volume to 2.05mn equities but on 19% slump in value to QR48.83mn and 21% in transactions to 673.
In the debt market, there was no trading of sovereign bonds and treasury bills.