Strong selling pressure — especially within real estate, transport and industrials — om Wednesday dragged the Qatar Stock Exchange for the fourth straight session and capitalisation eroded more than QR3bn.
Foreign institutions’ weakened buying interests as well as the bearish outlook of non-Qatari and Gulf individuals were instrumental in the 20-stock Qatar Index declining 0.35% to 10,650.31 points.
However, there was weakened net selling by local retail investors and domestic funds on the market, whose sensitive index is up 3.41% year-to-date.
Market capitalisation shed 0.5% to QR611.05bn mainly owing to large and microcap segments.
Islamic equities were seen declining faster the other indices on the market, where the Gulf funds were increasingly bearish.
Trade turnover and volumes were on the decline in the bourse, where banking and industrials sectors together accounted for more than 72% of the total volume.
The Total Return Index declined 0.35% to 18,764.65 points, Al Rayan Islamic Index (Price) by 0.56% to 2,491.99 points and All Share Index by 0.45% to 3,210.18 points.
The realty index shrank 1.37%, transport (1.22%), industrials (0.96%), telecom (0.45%) and banks and financial services (0.05%); whereas insurance and consumer goods gained 0.77% and 0.25% respectively.
About 72% of the traded constituents were in the red with major losers being Ezdan, Gulf Warehousing, Nakilat, Industries Qatar, Widam Food, Al Meera, Ahlibank Qatar, Zad Holding and Qatari German Company for Medical Devices; even as Doha Bank, Qatar First Bank and Islamic Holding Group were among the prime gainers.
Non-Qatari institutions’ net buying declined considerably to QR23.18mn compared to QR78.23mn on Tuesday.
Non-Qatari individuals turned net sellers to the tune of QR0.63mn against net buyers of QR0.16mn the previous day.
The Gulf individuals were also net sellers to the extent of QR0.56mn compared with net buyers of QR0.16mn on January 22.
However, local individuals’ net selling declined significantly to QR17.69mn against QR57.3mn on Tuesday.
Domestic institutions’ net selling also eased influentially to QR4.01mn compared to QR15.65mn the previous day.
The Gulf institutions’ net profit booking fell noticeably to QR0.3mn against QR5.59mn on January 22.
Total trade volume fell 5% to 7.58mn shares, value by 17% to QR185.02mn and transactions by 1% to 4,717.
The industrials sector’s trade volume plummeted 51% to 1.33mn equities, value by 34% to QR34.92mn and deals by 27% to 1,342.
The insurance sector reported 50% plunge in trade volume to 0.29mn stocks, 44% in value to QR6.99mn and 30% in transactions to 165.
The transport sector’s trade volume tanked 13% to 0.34mn shares, value by 16% to QR7.04mn and deals by 6% to 235.
There was 9% decline in the real estate sector’s trade volume to 0.99mn equities and 15% in value to QR16.82mn but on 30% increase in transactions to 705.
However, the telecom sector’s trade volume soared 79% to 0.25mn stocks and value by 5% to QR6.24mn, whereas deals were flat at 266.
The banks and financial services sector saw 46% surge in trade volume to 4.16mn shares but on 11% shrinkage in value to QR101.05mn despite 19% higher transactions at 1,548.
The consumer goods sector’s trade volume shot up 11% to 0.21mn equities, value by 16% to QR11.97mn and deals by 29% to 456.
In the debt market, there was no trading of treasury bills and sovereign bonds.