The Qatar Stock Exchange on Wednesday witnessed mild profit-booking pressures, after a two-day bull run, to slide below 10,600 levels, mainly dragged by banking and telecom equities.
Weakened buying interests from foreign institutions largely drove the 20-stock Qatar Index down 0.12% at 10,589.98 points.
However, domestic funds turned bullish and there was weakened net selling by local and non-Qatari retail investors in the market, which is up 24.25% year-to-date.
Market capitalisation shed about QR3bn, or 0.47%, to QR592.78bn, mainly owing to large cap segments; even as micro, mid and small caps made impressive gains.
Islamic equities were seen gaining vis-a-vis declines in the other indices in the market, where Gulf individuals turned marginally bullish.
Trade turnover and volumes were on the decline in the bourse, where the banking, realty and industrials sectors together accounted for about 83% of the total volume.
The Total Return Index shed 0.12% to 18,658.36 points and the All Share Index by 0.15% to 3,138.66 points, while the Al Rayan Islamic Index (Price) gained 0.83% to 2,473.02 points.
The banks and financial services index shrank 1.15%, followed by telecom (0.62%) and insurance (0.05%); whereas realty gained 1.49%, industrials (0.89%), consumer goods (0.41%) and transport (0.3%).
About 62% of the traded stocks were in the red with major losers being QNB, Ooredoo, Qatar Islamic Bank, Commercial Bank, Mesaieed Petrochemical Holding and Islamic Holding Group; while Qatar National Cement, Qatari German Company for Medical Devices, Doha Bank, Alijarah Holding, Aamal Company, Qatar Electricity and Water, Ezdan, Barwa and Gulf Warehousing were among the gainers.
Non-Qatari institutions’ net buying declined significantly to QR37.44mn compared to QR121.04mn on December 4.
However, domestic institutions turned net buyers to the tune of QR1.18mn against net sellers of QR9.71mn the previous day.
Gulf individual investors were also net buyers to the extent of QR0.03mn compared with net sellers of QR3.9mn on Tuesday.
Local individual investors’ net selling weakened significantly to QR23.81mn against QR82mn on December 4.
Non-Qatari individuals’ net profit-booking shrank influentially to QR0.98mn compared to QR5.9mn the previous day.
Gulf institutions’ net selling decreased perceptibly to QR13.86mn against QR20.42mn on Tuesday.
Total trade volume fell 12% to 10.01mn shares, value by 23% to QR288.22mn and transactions by 13% to 5,601.
The telecom sector’s trade volume plummeted 72% to 0.69mn equities, value by 51% to QR12.32mn and deals by 47% to 269.
The transport sector reported a 47% plunge in trade volume to 0.5mn stocks, 32% in value to QR14.53mnm and less than 1% in transactions to 316.
The insurance sector’s trade volume tanked 36% to 0.09mn shares, value by 30% to QR3.65mn and deals by 41% to 70.
The banks and financial services sector saw an 11% shrinkage in trade volume to 3.58mn equities, 25% in value to QR136.23mn and 9% in transactions to 2,495.
However, the consumer goods sector’s trade volume almost tripled to 0.44mn stocks and value almost doubled to QR31.48mn on almost doubled deals to 451.
There was a 62% surge in the industrials sector’s trade volume to 1.83mn shares but on a 32% decline in value to QR45.01mn and 20% in transactions to 794.
The real estate sector’s trade volume grew 15% to 2.89mn equities, whereas value shrank 23% to QR45.01mn and deals by 22% to 1,206.
In the debt market, there was no trading of treasury bills and sovereign bonds.
