The Qatar Stock Exchange on Tuesday settled marginally lower, although four of the seven sectors witnessed buying interests.
Domestic funds and the Gulf individuals turned bearish and there was substantially weakened net buying as the 20-stock Qatar Index settled 0.1% lower at 10,264.07 points, which is, however, up 20.42% year-to-date.
There could be some selling activity on the short-term period as part of a natural correction, knowing that the nearby support levels are located at 10,000 points, 9,660 points and 9,450 points, a Kamco technical analysis said.
Mid and large cap segments nevertheless witnessed buying interests, resulting in a 0.09% market capitalisation gain to QR574.91bn.
However, selling pressure from local and non-Qatari retail investors weakened on the market, where Islamic stocks were seen declining faster than the other indices.
Masraf Al Rayan sponsored exchange traded fund QATR reported 3.27% gains; while Doha Bank sponsored QETF was flat.
Trade turnover and volume were on the decline on the bourse, where banking and industrials sectors together accounted for about 47% of the total volume.
The Total Return Index was down 0.1% to 18,084.15 points and Al Rayan Islamic Index (Price) by 0.18% to 2,410.16 points, while All Share Index was up 0.14% to 3,023.07 points.
The telecom index shrank 0.91%, industrials (0.69%) and realty (0.27%); whereas transport gained 1.31%, insurance (0.75%), banks and financial services (0.55%) and consumer goods (0.15%).
Major losers included Vodafone Qatar, Industries Qatar, Mazaya Qatar, Ahlibank, Dlala, Islamic Holding Group, Alijarah Holding and Qatar Oman Investment; while QNB, Qatar National Cement, Qatari Investors Group, Mesaieed Petrochemical Holding, Nakilat and Gulf Warehousing were among the gainers.
Domestic institutions turned net sellers to the tune of QR0.44mn compared with net buyers of QR19.96mn on Monday.
The Gulf individuals were also net sellers to the extent of QR1.83mn against net buyers of QR1.51mn on October 22.
Non-Qatari institutions’ net buying fell significantly to QR23.66mn compared to QR49.1mn the previous day.
The Gulf institutions’ net buying declined perceptibly to QR1.47mn against QR10.05mn on Monday.
Non-Qatari individuals’ net profit booking weakened influentially to QR1.83mn compared to QR7.51mn on Monday.
However, local individuals’ net selling sunk substantially to QR21.06mn against QR73.11mn the previous day.
Total trade volume fell 19% to 7.25mn shares, value by 30% to QR198.69mn and transactions by 12% to 4,174.
The insurance sector’s trade volume plummeted 66% to 0.1mn equities, value by 60% to QR3.49mn and deals by 29% to 128.
There was 54% plunge in the real estate sector’s trade volume to 1.34mn stocks, 48% in value to QR20.21mn and 43% in transactions to 564.
The consumer goods sector’s trade volume tanked 47% to 0.08mn shares, value by 56% to QR7.07mn and deals by 13% to 187.
The banks and financial services sector saw 24% shrinkage in trade volume to 1.95mn equities, 33% in value to QR83.6mn and 10% in transactions to 1,586.
The transport sector’s trade volume declined 23% to 1.09mn stocks and value by 36% to QR26.29mn, while deals were up 12% to 596.
However, the industrials sector’s trade volume more than doubled to 1.45mn shares, value soared 23% to QR44.21mn and transactions by 32% to 751.
The telecom sector reported 50% surge in trade volume to 1.23mn equities but on 29% fall in value to QR13.83mn and 21% in deals to 362.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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