The Qatar Stock Exchange witnessed minor correction despite buying interests in four of the seven sectors.
Increased buying support from foreign institutions notwithstanding, the 20-stock Qatar Index fell 0.23% to 7,912.48 points.
Local as well as non-Qatari retail investors and Gulf funds turned bearish in the market, whose year-to-date losses were at 24.19%.
Islamic equities were seen declining faster than the main index in the bourse, whose capitalisation expanded 0.62% to QR435.94bn.
Trade turnover and volumes were on the decline in the market, where real estate, industrials and banking sectors together accounted for more than 79% of the total volume.
The Total Return Index shed 0.23% to 13,268.77 points and the Al Rayan Islamic Index by 1.5% to 3,080.46 points, while the All Share Index gained 0.96% to 2,246.47 points.
The insurance index soared 6.22%, realty (4.45%), banks and financial services (0.33%) and telecom (0.28%); whereas transport declined 0.99%, consumer goods (0.88%) and industrials (0.44%).
Major gainers included Qatar Insurance, Ezdan, QNB, Alijarah Holding, Widam Food, Ooredoo and Qatari German Company for Medical Devices; while QIIB, Ahli Bank, Medicare Group, Qatari Investors Group, Mesaieed Petrochemical Holding, Mazaya Qatar, Barwa and Gulf Warehousing were among the losers.
Local retail investors turned net sellers to the tune of QR41.72mn compared with net buyers of QR15.33mn on December 4.
Non-Qatari individuals were net profit takers to the extent of QR10.87mn against net buyers of QR12.78mn the previous day.
The GCC (Gulf Cooperation Council) funds turned net sellers to the tune of QR8.12mn compared with net buyers of QR5mn on Monday.
The GCC individual investors’ net buying weakened perceptibly to QR0.55mn against QR1.01mn on December 4.
However, non-Qatari institutions’ net buying increased substantially to QR87.9mn compared to QR10.07mn the previous day.
Domestic institutions’ net profit booking fell considerably to QR27.73mn against QR44.22mn on Monday.
Total trade volume fell 23% to 14.42mn shares and value by 9% to QR305.43mn, while deals rose 6% to 5,773.
There was 69% plunge in the telecom sector’s trade volume to 0.78mn equities and 43% in value to QR14.22mn but on 26% increase in transactions to 501.
The industrials sector’s trade volume plummeted 51% to 3.36mn stocks, value by 41% to QR54.72mn and deals by 20% to 1,143.
The transport sector reported 41% shrinkage in trade volume to 0.93mn shares, 49% in value to QR16.25mn and 25% in transactions to 336.
The banks and financial services sector’s trade volume tanked 13% to 3.33mn equities, whereas value grew 3% to QR129.04mn and deals by 8% to 1,602.
However, the insurance sector’s trade volume more than quadrupled to 0.69mn stocks and value more than doubled to QR11.73mn on 76% surge in transactions to 269.
The consumer goods sector saw 53% expansion in trade volume to 0.58mn shares, 68% in value to QR22.11mn and 24% in deals to 393.
The real estate sector’s trade volume shot up 39% to 4.76mn equities, value by 36% to QR57.36mn and transactions by 24% to 1,529.
In the debt market, there was no trading of treasury bills and sovereign bonds.