The Qatar Stock Exchange on Tuesday continued its bearish spell for the third consecutive day to settle below 10,700 levels, mainly dragged by local retail investors and domestic funds.
Transport, consumer goods and industrials sectors witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.33% lower at 10,687.28 points.
However, foreign institutions were increasingly bullish on the market, whose sensitive index is up 3.77% year-to-date.
Market capitalisation shed QR77mn or 0.13% to QR614.13bn mainly owing to small and microcap segments.
Islamic equities were seen declining faster the other indices on the market, where the Gulf funds continued to be bearish but with lesser vigour.
Trade turnover shrank amidst higher volumes in the bourse, where banking and industrials sectors together accounted for more than 70% of the total volume.
The Total Return Index declined 0.33% to 18,829.8 points, Al Rayan Islamic Index (Price) by 0.49% to 2,506.02 points and All Share Index by 0.16% to 3,224.85 points.
The transport index tanked 1.18%, consumer goods (0.72%), industrials (0.39%), telecom (0.29%) and banks and financial services (0.15%); whereas insurance and real estate gained 0.8% and 0.41% respectively.
About 55% of the traded constituents were in the red with major losers being Nakilat, Milaha, Qatari German Company for Medical Devices, Medicare Group, Aamal Company, Masraf Al Rayan and Qatar Oman Investment; even as Ahlibank Qatar, Salam International Investment and Al Khaleej Takaful were among the prime gainers.
Local individuals’ net selling declined significantly to QR57.3mn compared to QR37.15mn the previous day.
Domestic institutions’ net selling also grew influentially to QR15.65mn against QR7.48mn on January 21.
However, non-Qatari institutions’ net buying shot up considerably to QR78.23mn compared to QR63.28mn on Monday.
The Gulf individual investors turned net buyers to the tune of QR0.16mn against net sellers of QR0.1mn the previous day.
Non-Qatari individuals were also net buyers to the extent of QR0.16mn compared with net sellers of QR4.83mn on January 21.
The Gulf institutions’ net profit booking weakened noticeably to QR5.59mn against QR13.75mn on Monday.
Total trade volume rose 4% to 7.97mn shares, while value fell 12% to QR222.62mn and transactions by 16% to 4,781.
The insurance sector’s trade volume more than tripled to 0.58mn equities and value more than doubled to QR12.43mn on 19% jump in deals to 235.
The market witnessed 51% surge in the industrials sector’s trade volume to 2.73mn stocks and 8% in value to QR52.57mn but on 3% fall in in transactions to 1,826.
The consumer goods sector reported 19% expansion in trade volume to 0.19mn shares but on 22% decline in value to QR10.33mn and 2% in deals to 354.
The real estate sector’s trade volume shot up 16% to 1.09mn equities, whereas value shed 17% to QR19.85mn and transactions by 25% to 543.
However, the banks and financial services sector saw 28% plunge in trade volume to 2.85mn stocks, 19% in value to QR113.12mn and 29% in deals to 1,306.
The transport sector’s trade volume plummeted 19% to 0.39mn shares, value by 48% to QR8.4mn and transactions by 39% to 251.
There was 7% shrinkage in the telecom sector’s trade volume to 0.14mn equities but on 23% growth in value to QR5.94mn and 10% in deals to 266.
In the debt market, there was no trading of treasury bills and sovereign bonds.