Qatar Stock Exchange continued to be under bearish spell to trade under 8,600 levels as foreign funds largely kept away from the market in view of Christmas.
Increased buying support from local retail investors notwithstanding, the 20-stock Qatar Index fell 0.36% for the second consecutive day to 8,569.58points.
There was increased net selling by domestic institutions and lower buying support from non-Qatari individuals in the bourse, whose year-to-date losses were seen at 17.89%.
Islamic equities were declining slower than the main index in the market, whose capitalisation shrank 0.26% to QR473.39bn.
Trade turnover and volumes were on the decline in the bourse, where banking and industrials sectors together accounted for more than 74% of the total volume.
The Total Return Index shed 0.36% to 14,370.68 points and Al Rayan Islamic Index by 0.05% to 3,407.29 points, while All Share Index was up 0.01% to 2,464.18 points.
The insurance and realty indices gained 3.12% and 0.42% respectively; whereas telecom declined 1.56%, industrials (0.61%), consumer goods (0.2%), transport (0.2%) and banks and financial services (0.07%).
Major gainers included Qatar Insurance, Qatar Islamic Bank, Al Khaliji, Qatar First Bank, Aamal Company, United Development Company, Mazaya Qatar, Ezdan and Barwa; while Ahli Bank, Industries Qatar, Gulf International Services, Qatar National Cement, Qatari Investors Group, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar and Nakilat were among the losers.
Local individuals’ net buying strengthened substantially to QR16.85mn compared to QR4.97mn the previous day.
Non-Qatari institutions turned net buyers to the tune of QR0.77mn against net sellers of QR1.28mn on December 24.
The Gulf individual investors’ net buying increased perceptibly to QR0.77mn compared to QR0.31mn on Sunday.
The Gulf funds’ net profit booking weakened perceptibly to QR4.72mn against QR7.48mn the previous day.
However, domestic institutions’ net selling increased considerably to QR14.121mn compared to QR1.18mn on December 24.
Non-Qatari retail investors’ net buying declined drastically to QR0.56mn against QR4.71mn on Sunday.
Total trade volume fell 8% to 14.38mn shares and value by 62% to QR192.52mn, while deals rose 14% to 3,073.
The telecom sector reported 78% plunge in trade volume to 1.2mn equities, 73% in value to QR12.57mn and 49% in transactions to 140.
The transport sector’s trade volume tanked 14% to 0.32mn stocks, while value grew 19% to QR13.38mn and deals by 7% to 156.
However, the insurance sector’s trade volume rose more than five-fold to 0.28mn shares and value by about 15-fold to QR14.02mn but on 19% fall in transactions to 47.
The banks and financial services sector saw 37% surge in trade volume to 6.87mn equities but on 80% shrinkage in value to QR80.36mn despite 46% higher deals to 1,171.
There was 30% expansion in the industrials sector’s trade volume to 3.82mn stocks, 10% in value to QR30.83mn and 33% in transactions to 927.
The consumer goods sector’s trade volume soared 18% to 0.4mn shares and value by 79% to QR19.94mn, whereas deals shrank 20% to 206.
The market witnessed 3% jump in the real estate sector’s trade volume to 1.5mn equities but on 4% fall in value to QR21.43mn and 8% in transactions to 426.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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