The Qatar Stock Exchange on Thursday witnessed local retail investors turn bearish and their non-Qatari counterparts increasingly book profits, after three consecutive days of a bull-run, with the index settling below the 9,000 levels.
The insurance, consumer goods and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index lost a sizeable 1.07% to 8,918.48 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR witnessed 1.4% and 1.15% declines respectively.
However, foreign and Gulf institutions were increasingly bullish in the market, which is up 4.64% year-to-date.
Selling was seen more pronounced within small and midcap segments as the bourse registered a 0.65% decline in capitalisation to QR493.85bn.
Trade turnover declined amidst higher volumes in the market, where the industrials and banking sectors together accounted for about 63% of the total volume.
The Total Return Index shed 1.07% to 15,713.37 points, the All Share Index by 0.63% to 2,625.08 points and the Al Rayan Islamic Index (Price) by 0.63% to 2,238.43 points.
The insurance index tanked 1.26%, consumer goods (1.19%), banks and financial services (1.17%), telecom (0.41%), transport (0.14%) and industrials (0.03%); whereas realty gained 0.32%.
About 69% of the stocks were in the red with major shakers being Commercial Bank, QIIB, Qatar Islamic Bank, Qatar Electricity and Water, Industries Qatar, Mazaya Qatar, Ooredoo, Qatar Insurance and Nakilat; even as Aamal Company, Gulf International Services, Ezdan, Milaha, Qatar National Cement and Vodafone Qatar were among the losers.
Non-Qatari individual investors’ net selling strengthened influentially to QR10.15mn compared to QR3.11mn on Wednesday.
Local individuals turned net profit-takers to the tune of QR6.69mn against net buyers of QR0.13mn on April 11.
Gulf individuals were net sellers to the extent of QR0.05mn compared with net buyers of QR0.85mn the previous day.
However, non-Qatari funds’ net buying strengthened perceptibly to QR28.35mn against QR27.62mn on Wednesday.
Gulf institutions’ net buying increased significantly to QR2.09mn compared to QR0.16mn on April 11.
Domestic funds’ net profit-booking weakened substantially to QR13.52mn against QR25.58mn the previous day.
Total trade volume rose 12% to 11.42mn shares, while value fell 17% to QR261.51mn despite 1% higher transactions at 3,725.
The market witnessed a 40% surge in the telecom sector’s trade volume to 1.71mn equities, 44% in value to QR19.24mn and 5% in deals to 332.
The banks and financial services sector’s trade volume soared 26% to 3.07mn stocks, whereas value declined 16% to QR82.89mn and transactions by 4% to 1,157.
The industrials sector saw a 20% increase in trade volume to 4.07mn shares but on a 31% decline in value to QR90.49mn despite 5% higher deals at 1,059.
The consumer goods sector’s trade volume shot up 19% to 0.37mn equities, value by 27% to QR27.89mn and transactions by 12% to 341.
However, there was a 27% plunge in the real estate sector’s trade volume to 1.37mn stocks, 36% in value to QR17.26mn and 1% in deals to 464.
The transport sector’s trade volume plummeted 21% to 0.53mn shares, while value expanded 14% to QR13.2mn despite 7% lower transactions at to 232.
The insurance sector reported a 6% shrinkage in trade volume to 0.29mn equities, 5% in value to QR10.55mn and 3% in deals to 140.
In the debt market, there was no trading of treasury bills and sovereign bonds.