Vodafone Qatar on Tuesday almost touched the upper 10% circuit filter in an otherwise bearish Qatar Stock Exchange, which continued to remain at sub-9,000 levels for the second straight session.
Local, non-Qatari and Gulf retail investors turned bearish as the 20-stock Qatar Index declined for the fourth consecutive day by 0.7% to 8,929.5 points.
Insurance and realty counters witnessed higher-than-average selling pressure in the market, which is however, up 4.76% year-to-date.
Islamic stocks were seen declining slower than the main index on the bourse, which, however, saw increased net buying from domestic funds.
Profit booking was seen more perceptible within large and midcap segments on the market, whose capitalisation shrank 0.95% to QR473.49bn.
Trade turnover and volumes were on the increase on the bourse, where telecom, banking and real estate sectors together accounted for about 86% of the total volume.
The Total Return Index declined 0.47% to 15,185.54 points, All Share Index by 0.88% to 2,497.23 points and Al Rayan Islamic Index by 0.65% to 3,628.88 points.
The insurance index plunged 2.98%, realty (1.91%), consumer goods (0.97%), industrials (0.96%), banks and financial services (0.93%) and transport (0.57%); whereas telecom soared 3.8%.
More than 69% of the stocks were in the red with major losers being Qatar Insurance, Qatar Electricity and Water, Qatar National Cement, Barwa, Ezdan, Commercial Bank, QNB, Masraf Al Rayan, Alijarah Holding, Woqod, Qatari Investors Group and Salam International Investment.
Local retail investors turned net sellers to the tune of QR24.35mn compared with net buyers of QR2.82mn on February 26.
Non-Qatari individuals were also net sellers to the extent of QR2.02mn against net buyers of QR2.4mn the previous day.
The Gulf individuals turned net profit takers to the tune of QR0.55mn against net buyers of QR0.97mn on Monday.
However, domestic institutions’ net buying strengthened considerably to QR26.32mn compared to QR5.98mn on February 26.
Non-Qatari institutions turned net buyers to the extent of QR1.31mn against net sellers of QR6.66mn the previous day.
The Gulf institutions’ net profit taking weakened substantially to QR0.66mn compared to QR5.49mn on Monday.
Total trade volume rose 18% to 11.56mn shares, value by 4% to QR252.08mn and transactions by 14% to 3,930.
The telecom sector’s trade volume grew more than six-fold to 3.99mn equities and value by almost five-fold to QR36.16mn on almost tripled deals to 846.
The consumer goods sector reported 3% jump in trade volume to 0.33mn stocks but on 4% fall in value to QR20.97mn despite 11% higher transactions to 290.
However, the insurance sector’s trade volume plummeted 56% to 0.07mn shares, value by 58% to QR2.88mn and deals by 22% to 116.
The market witnessed 36% plunge in the industrials sector’s trade volume to 1.07mn equities but on 3% rise in value to QR40.42mn despite 17% lower transactions to 542.
The transport sector’s trade volume tanked 31% to 0.2mn stocks, while value grew 4% to QR7.93mn in spite of 3% drop in deals to 145.
The banks and financial services sector saw 19% shrinkage in trade volume to 3.68mn shares but on 1% jump in value to QR98.28mn despite 8% slump in transactions to 1,151.
The real estate sector’s trade volume was down less than 1% to 2.22mn equities and value by 26% to QR45.44mn, while deals increased 21% to 840.
In the debt market, there was no trading of treasury bills and sovereign bonds.