The Qatar Stock Exchange on Friday opened the week weak to retreat below 10,700 levels despite more than 53% of the constituents extending gains.
Insurance, transport and banking counters witnessed higher than average selling pressure, which led the 20-stock Qatar Index settle 0.29% lower at 10,689.17 points.
Foreign institutions’ net buying substantially weakened in the market, whose sensitive index is up 3.79% year-to-date.
Market capitalisation was down QR62mn or 0.1% to QR615.24bn mainly owing to large and small cap segments.
Islamic equities however gained vis-à-vis declines in the other indices on the market, where domestic and Gulf institutions however turned bullish.
Trade turnover and volumes were on the decline on the bourse, where industrials and banking sectors together accounted for about 55% of the total volume.
The Total Return Index fell 0.29% to 18,833.14 points and All Share Index by 0.02% to 3,423.65 points, while Al Rayan Islamic Index (Price) was up 0.04% to 2,506.36 points.
The insurance index declined 2.09%, transport (0.66%), banks and financial institutions (0.56%) and consumer goods (0.18%); while real estate gained 1.93%, industrials (0.27%) and telecom (0.13%).
Major losers included QNB, Nakilat, Qatar General and Reinsurance, Qatar Insurance, Qatar Electricity and Water, Qatar Islamic Bank and Qatar First Bank; whereas more than 53% of the stocks extended gains which included Ahlibank Qatar, Dlala, Industries Qatar, Ezdan, Mazaya Qatar, Salam International Investment, Islamic Holding Group, Al Khaleej Takaful and Qatari German Company for Medical Devices.
Non-Qatari institutions’ net buying fell significantly to QR15.68mn compared to QR113.74mn on January 31.
However, domestic funds turned net buyers to the tune of QR8.19mn against net sellers of QR17.09mn the previous trading day.
The Gulf institutions were also net buyers to the extent of QR5.76mn compared with net sellers of QR3.52mn last Thursday.
Non-Qatari individuals turned net buyers to the tune of QR1.9mn against net profit takers of QR1.3mn on January 31.
Local individuals’ net selling weakened influentially to QR28.74mn compared to QR87.45mn the previous trading day.
The Gulf individual investors’ net profit booking declined noticeably to QR2.8mn against QR4.34mn last Thursday.
Total trade volume fell 41% to 5.6mn shares, value by 53% to QR148.35mn and transactions by 47% to 3,305.
The real estate sector’s trade volume plummeted 67% to 0.88mn equities, value by 72% to QR12.89mn and deals by 70% to 411.
The telecom sector reported 60% plunge in trade volume to 0.71mn stocks, 67% in value to QR8.18mn and 70% in transactions to 228.
The banks and financial services sector’s trade volume tanked 46% to 1.33mn shares, value by 71% to QR45.56mn and deals by 58% to 635.
There was 43% shrinkage in the insurance sector’s trade volume to 0.08mn equities, 49% in value to QR2.76mn and 55% in transactions to 78.
The industrials sector’s trade volume was down 7% to 1.74mn stocks, value by 48% to QR26.7mn and deals by 18% to 1,580.
However, the transport sector saw 47% surge in trade volume to 0.56mn shares and 39% in value to QR13.53mn but on 38% decline in transactions to 138.
The consumer goods sector’s trade volume expanded 11% to 0.31mn equities and value by 74% to QR37.73mn, while deals shrank 38% to 235.
In the debt market, there was no trading of treasury bills and sovereign bonds.