Local retail investors’ increased net selling and lower buying interests of foreign funds yesterday dragged the Qatar Stock Exchange.
Profit booking pressure was seen more pronounced within realty, transport, industrials and banking counters as the 20-stock Qatar Index shed 0.28% to 10,163.41 points, which is however up 19.24% year-to-date.
Large and microcap equities experienced higher selling pressure, resulting in market capitalisation shrank more than QR5bn or 0.89% to QR567.63bn.
However, domestic funds and Gulf individuals were seen bullish on the market, where Islamic stocks were seen declining slower than the other indices.
Doha Bank sponsored exchange traded fund QETF witnessed 0.65% gains; while Masraf Al Rayan sponsored QATR was unchanged.
Trade turnover declined amidst higher volumes on the bourse, where banking and real estate sectors together accounted for about 64% of the total volume.
The Total Return Index fell 0.28% to 17,906.8 points, All Share Index by 0.73% to 2,985.88 points and Al Rayan Islamic Index (Price) by 0.01% to 2,389.68 points.
The realty index tanked 1.37%, transport (1.13%), industrials (0.78%), banks and financial services (0.68%), insurance (0.58%) and telecom (0.24%); while consumer goods gained 0.24%. About 59% of the traded stocks were in the red with major losers being Salam International Investment, Gulf International Services, QNB, Dlala, Qatar Insurance, Ezdan, Milaha and Gulf Warehousing; even as Qatar Islamic Bank, Commercial Bank, QIIB, Widam Food and Mazaya Qatar were among the gainers.
Local individuals’ net profit booking increased considerably to QR61.16mn compared to QR52.1mn on Monday.
Non-Qatari funds’ net buying weakened perceptibly to QR42.62mn against QR46.36mn the previous day.
The Gulf institutions’ net buying significantly to QR1.17mn compared to QR15.91mn on October 29.
However, domestic funds turned net buyers to the tune of QR13.52mn against net sellers of QR9.03mn on Monday.
Non-Qatari individuals’ net buying increased influentially to QR2.16mn against QR1.13mn the previous day.
The Gulf individuals were net buyers to the extent of QR1.71mn compared with net sellers of QR2.27mn on October 29.
Total trade volume rose 42% to 6.64mn shares, while value fell 3% to QR224.92mn despite 38% higher transactions at 3,871.
The consumer goods sector’s trade volume more than quadrupled to 0.3mn equities and value more than doubled to QR19.64mn on more than doubled deals to 316.
The telecom sector’s trade volume soared 79% to 0.61mn stocks, value by 60% to QR12.03mn and transactions by 86% to 324.
The banks and financial services sector saw 64% surge in trade volume to 3.23mn shares but on 12% fall in value to QR132.12mn despite 45% higher deals at 1,616.
The insurance sector’s trade volume shot up 55% to 0.17mn equities, value by 62% to QR6.23mn and transactions by 26% at 63.
There was 42% expansion in the real estate sector’s trade volume to 1.02mn stocks, 18% in value to QR14.25mn and 52% in deals to 538.
The transport sector’s trade volume increased 38% to 0.44mn shares, value by 74% to QR12.84mn and transactions by 37% to 332.
However, the industrials sector reported 23% shrinkage in trade volume to 0.88mn equities, 36% in value to QR27.81mn and 5% in deals to 682.
In the debt market, there was no trading of treasury bills and sovereign bonds.