Foreign funds’ bearish outlook and non-Qatari individuals’ increased net selling on Thursday extended the weak run on the Qatar Stock Exchange for the second straight session.
Selling pressure — especially in banks, real estate and telecom — dragged the 20-stock Qatar Index 0.39% to 9,318.53 points.
However, Masraf Al Rayan-sponsored exchange traded fund QATR gained 0.83%.
Islamic stocks were seen declining slower than the other indices on the market, which reported 9.33% gains year-to-date.
Local and Gulf retail investors as well as domestic institutions turned bearish on the bourse, whose capitalisation fell 0.55% to QR508.3bn, mainly on account of large caps.
Trade turnover and volumes were on the increase on the market, where telecom, banking and transport sectors together accounted for more than 73% of the total volume.
The Total Return Index shed 0.39% to 16,418.21 points, All Share Index by 0.49% to 2,692.17 points and Al Rayan Islamic Index (Price) by 0.21% to 2,289.52 points.
The banks and financial services index declined 0.88%, realty 90.58%), telecom (0.55%), insurance (0.2%), industrials (0.16%) and transport (0.02%); whereas consumer goods gained 0.76%.
About 59% of the traded stocks were in the red with major losers being QNB, Dlala, Aamal Company, Mazaya Qatar, Vodafone Qatar, Qatar Islamic Bank, Ezdan, Barwa and Islamic Holding Group; while Commercial Bank, Alijarah Holding, Widam Food, Al Meera, Gulf International Services and Mesaieed Petrochemical Holding were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR5.18mn compared with net buyers of QR21.97mn the previous day.
Non-Qatari individual investors’ net selling increased marginally to QR1.81mn against QR0.21mn on Wednesday.
However, local individuals turned net buyers to the extent of QR4.63mn compared with net sellers of QR19.57mn on July 11.
Domestic institutions were also net buyers to the tune of QR2.86mn against net profit takers of QR0.3mn the previous day.
The Gulf individual investors turned net buyers to the extent of QR0.21mn compared with net sellers of QR0.19mn on Wednesday.
The Gulf institutions’ net profit booking weakened perceptibly to QR0.7mn against QR1.72mn on July 11.
Total trade volume rose 97% to 7.74mn shares, value by 34% to QR162.35mn and transactions by 12% to 2,926.
The telecom sector’s trade volume grew more than six-fold to 2.61mn equities and value almost tripled to QR26.41mn but on 18% lower deals at 249.
The consumer goods sector’s trade volume soared 82% to 0.2mn stocks and value more than doubled to QR16.9mn on 28% jump in transactions to 221.
The banks and financial services sector saw 74% surge in trade volume to 1.98mn shares, 20% in value to QR59.85mn and 10% in deals to 838.
The industrials sector’s trade volume shot up 65% to 0.81mn equities, value by 4% to QR21.79mn and transactions by 14% to 657.
The transport sector reported 49% increase in trade volume to 1.07mn stocks and 35% in value to QR17.93mn, while deals were down 16% to 239.
The insurance sector’s trade volume expanded 11% to 0.21mn shares, value by 21% to QR7.09mn and transactions by 23% to 223.
There was 4% rise in the real estate sector’s trade volume to 0.88mn equities but on 15% decline in value to QR12.38mn despite 47% higher deals at 499.
In the debt market, there was no trading of treasury bills and sovereign bonds.