The Qatar Stock Exchange on Wednesday fell further to remain below 10,300 levels, mainly on profit booking pressure from local and non-Qatari retail investors.
Gulf institutions were seen increasingly bearish as the 20-stock Qatar Index declined 0.11% to 10,222.98 points.
There was also decreased net buying support from domestic funds in the market, which is up 19.94% year-to-date.
Market capitalisation was up QR10mn, or 0.02%, to QR583.71bn as mid and small cap segments saw gains.
Islamic equities were seen declining faster than the other indices in the market, where foreign funds turned bullish.
Trade turnover and volumes were on the increase in the bourse, where the industrials sector alone accounted for about three-fourth of the total volume.
The Total Return Index fell 0.11% to 18,011.76 points, the Al Rayan Islamic Index (Price) by 0.17% to 2,376.59 points and the All Share Index by 0.09% to 3,043.92 points.
The insurance index declined 0.39%, followed by consumer goods (0.3%), transport (0.22%), real estate (0.19%) and banks and financial services (0.1%); while telecom and industrials gained 0.27% and 0.08% respectively.
About 50% of the traded stocks were in the red with major losers being Qatar Islamic Bank, Al Khaleej Takaful, Qatar Oman Investment, Industries Qatar, Aamal Company, Qatari Investors Group, Mazaya Qatar, Ezdan, Barwa and Nakilat; even as Ooredoo, United Development Company, Qatar National Cement, Qatar Industrial Manufacturing, Qatari German Company for Medical Devices, Zad Holding and Islamic Holding Group were among the gainers.
Local individuals turned net sellers to the tune of QR11.98mn compared with net buyers of QR1.94mn on Tuesday.
Gulf institutions’ net profit booking increased considerably to QR5.11mn against QR3.59mn the previous day.
Non-Qatari individuals turned net sellers to the extent of QR0.9mn compared with net buyers of QR0.55mn on December 25.
Domestic institutions’ net buying declined influentially to QR0.88mn against QR2.43mn on Tuesday.
However, non-Qatari funds turned net buyers to the tune of QR17.52mn compared with net sellers of QR0.68mn the previous day.
Gulf individuals’ net profit booking weakened perceptibly to QR0.42mn against QR0.66mn on December 25.
Total trade volume rose 21% to 9.26mn shares, value by 24% to QR140.26mn and transactions by 16% to 5,658.
The real estate sector’s trade volume more than doubled to 1.05mn equities and value almost doubled to QR17.9mn on a 27% jump in deals to 323.
The consumer goods sector reported a 75% surge in trade volume to 0.21mn stocks and 40% in value to QR6.87mn but on a 2% fall in transactions to 179.
The industrials sector’s trade volume soared 24% to 6.91mn shares, value by 18% to QR87.42mn and deals by 22% to 4,419.
However, the market witnessed a 50% plunge in the transport sector’s trade volume to 0.11mn equities and 50% in value to QR2.17mn but on a 19% rise in transactions to 211.
The insurance sector’s trade volume plummeted 44% to 0.05mn stocks and value by 68% to QR0.92mn, while deals were up 4% to 58.
The banks and financial services sector saw a 13% decline in trade volume to 0.81mn shares, 13% in value to QR13.93mn and 23% in transactions to 405.
The telecom sector’s trade volume tanked 8% to 0.11mn equities, value by 21% to QR1.05mn and deals by 15% to 63.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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