The Qatar Stock Exchange on Thursday displayed strong bearish sentiments and its key index retreated below 9,900 levels mainly dragged down by transport and industrials equities.
Foreign funds’ net buying weakened amidst 1.03% plunge in the 20-stock Qatar Index to 9,861.53 points, which is however up 15.7% year-to-date.
However, local and Gulf retail investors turned bullish and there was a weakened net selling from domestic funds in the market, which also saw Islamic equities decline slower than the other indices.
Doha Bank- and Masraf Al Rayan-sponsored exchange traded funds QETF and QATR reported 0.51% and 0.89% declines respectively.
Trade turnover and volumes were on the decline in the bourse, where the banking and real estate sectors together accounted for about 48% of the total volume.
The Total Return Index shed 1.03% to 17,374.91 points, the All Share Index by 0.77% to 2,910 points and the Al Rayan Islamic Index (Price) by 0.9% to 2,346.91 points.
The transport index shrank 2.03%, industrials (1.43%), insurance (0.94%), consumer goods (0.77%), banks and financial services (0.63%) and telecom (0.19%); while realty gained 0.13%.
More than 85% of the traded stocks were in the red with major losers Gulf International Services, Nakilat, Milaha, Industries Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Commercial Bank, Qatar Islamic Bank, Qatar First Bank, Salam International Investment, Widam Food and Qatar Islamic Insurance.
Non-Qatari institutions’ net buying weakened significantly to QR4.74mn compared to QR54.23mn the previous day.
However, local individual investors turned net buyers to the tune of QR4.09mn against net sellers of QR36.3mn on Wednesday.
The Gulf individual investors were also net buyers to the extent of QR0.49mn compared with net sellers of QR0.47mn on October 10.
Domestic institutions’ net profit booking declined influentially QR11.92mn against QR16.67mn the previous day.
Non-Qatari retail investors’ net selling declined perceptibly to QR4.31mn compared to QR7.48mn on Wednesday.
The Gulf institutions’ net buying increased marginally to QR67.89mn compared to QR6.67mn on October 10.
Total trade volume fell 10% to 5.64mn shares, value by 25% to QR195.77mn and transactions by 18% to 3,189.
The transport sector’s trade volume plummeted 33% to 0.83mn equities, value by 40% to QR16.18mn and deals by 8% to 328.
The industrials sector reported 19% plunge in trade volume to 0.72mn stocks, 33% in value to QR39.34mn and 34% in transactions to 583.
The real estate sector’s trade volume tanked 18% to 1.24mn shares, value by 33% to QR25.69mn and deals by 28% to 610.
The consumer goods sector saw 13% shrinkage in trade volume to 0.26mn equities, 36% in value to QR25.57mn and 23% in transactions to 303.
However, the insurance sector more than tripled trade volume to 0.18mn stocks and value also more than tripled to QR5.9mn on 13% jump in deals to 96.
The telecom sector’s trade volume more than doubled to 0.96mn shares, value soared 76% to QR13.04mn and transactions by 27% to 304.
The banks and financial services sector’s trade volume was up 1% to 1.46mn equities, whereas value shrank 22% to QR70.05mn and deals by 11% to 965.
In the debt market, there was no trading of treasury bills but as many as 90,603 sovereign bonds valued at QR906.03mn traded across two transactions.