The Qatar Stock Exchange on Thursday witnessed profit-booking pressure, particularly from non-Qatari individuals and foreign funds, and settled lower but continued to remain above 9,000 levels.
Selling pressure – especially at the realty, transport and industrials counters – led the 20-stock Qatar Index to shed 0.36% to 9,027.71 points.
Domestic funds were increasingly net buyers and local retail investors turned bullish in the market, which is however up 5.92% year-to-date.
Buying was seen within small and microcap stocks in the bourse, whose capitalisation fell 0.35% to QR481.42bn.
Trade turnover volumes were on the decline in the market, where the banking and industrials sectors together accounted for more than 63% of the total volume.
The Total Return Index shed 0.36% to 15,242.04 points, the Al Rayan Islamic Index by 0.07% to 3,673.83 points and the All Share Index by 0.36% to 2,514.61 points.
The realty index declined 1.18%, followed by transport (0.67%), industrials (0.65%), consumer goods (0.5%) and telecom (0.36%); whereas banks and financial services was up 0.08%. The insurance index was rather unchanged.
Major gainers included Mazaya Qatar, Vodafone Qatar, Al Khaliji, Qatar National Cement and Qatari Investors Group; while Commercial Bank, Doha Bank, Mannai Corporation, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Ezdan, Ooredoo and Gulf Warehousing were among the losers.
Non-Qatari retail investors turned net sellers to the tune of QR6.52mn compared with net buyers of QR0.29mn on Wednesday.
Non-Qatari institutions’ net selling increased considerably to QR6.13mn against QR3.16mn the previous day.
Domestic institutions’ net buying shrank perceptibly to QR7.65mn compared to QR8.54mn on February 14.
However, local individuals turned net buyers to the extent of QR6.21mn against net sellers of QR0.27mn on Wednesday.
Gulf institutions’ net selling weakened influentially to QR0.75mn compared to QR4.06mn the previous day.
Gulf individual investors’ net profit-booking declined marginally to QR0.47mn against QR1.35mn on February 14.
Total trade volume fell 34% to 7.28mn shares, value by 38% to QR139.58mn and transactions by 25% to 2,965.
There was a 67% plunge in the consumer goods sector’s trade volume to 0.18mn equities, 63% in value to QR11.82mn and 51% in deals to 214.
The banks and financial services sector’s trade volume plummeted 50% to 3.25mn stocks, value by 35% to QR67.86mn and transactions by 26% to 1,056.
The insurance sector reported a 29% shrinkage in trade volume to 0.05mn shares, 30% in value to QR2.3mn and 4% in deals to 98.
The transport sector’s trade volume tanked 25% to 0.15mn equities, value by 17% to QR5.23mn and transactions by 40% to 106.
The market witnessed an 18% decline in the real estate sector’s trade volume to 1.14mn stocks, 32% in value to QR15.47n and 29% in deals to 415.
The industrials sector’s trade volume shrank 12% to 1.37mn shares, value by 42% to QR25.49mn and transactions by 17% to 754.
However, the telecom sector saw a 44% surge in trade volume to 1.14mn equities but on a 14% dip in value to QR11.4mn despite 1% jump in deals to 322.
In the debt market, there was no trading of treasury bills, while as many as 15,000 sovereign bonds valued at QR147.75mn changed hands across one transaction.