The Qatar Stock Exchange on Tuesday witnessed weakened buying support from foreign institutions, resulting in its key index knock off 12 points but to remain above 10,700 levels.
Real estate, consumer goods, banking, telecom and industrials counters experienced the maximum selling pressure as the 20-stock Qatar Index settled 0.11% lower at 10,715.29 points.
The Gulf individuals were increasingly net profit takers in the market, whose sensitive index is up 4.04% year-to-date.
Market capitalisation shed more than QR2bn or 0.35% to QR614.77bn mainly owing to mid and microcap segments.
Islamic equities were seen declining faster than the main index in the market, where domestic funds were increasingly bullish and there was weakened net selling pressure from local and non-Qatari retail investors.
Trade turnover and volumes were on the decline in the bourse, where banking, industrials and real estate sectors together accounted for about 69% of the total volume.
The Total Return Index fell 0.11% to 18,879.16 points, All Share Index by 0.37% to 3,244.84 points and Al Rayan Islamic Index (Price) by 0.2% to 2,504.63 points.
The realty index declined 1.47%, consumer goods (0.26%), banks and financial services (0.2%), telecom (0.19%) and industrials (0.18%); while transport index gained 0.31% and insurance treaded a flat path.
About 69% of the traded stocks were in the red with major losers being Gulf Warehousing, Ezdan, Qatar Electricity and Water, Zad Holding, Salam International Investment, Ahlibank Qatar, QNB, Qatar Oman Investment, Commercial Bank and Ooredoo; even as Doha Bank, Qatari German Company for Medical Devices, Qatar Islamic Insurance and Al Khaleej Takaful were among the gainers.
Non-Qatari institutions’ net buying decreased significantly to QR12.22mn compared to QR51.65mn on February 4.
The Gulf individual investors’ net profit booking increased noticeably to QR0.62mn against QR0.32mn on Monday.
However, domestic institutions’ net buying grew considerably to QR18.1mn compared to QR6.75mn the previous day.
Local individual investors’ net selling declined substantially to QR27.69mn against QR42.23mn on February 4.
Non-Qatari individuals’ net profit booking weakened influentially to QR1.94mn compared to QR14.36mn on Monday.
The Gulf institutions’ net selling eased marginally to QR0.09mn against QR1.53mn the previous day.
Total trade volume fell 19% to 6.74mn shares, value by 24% to QR186.58mn and transactions by 22% to 4,249.
The industrials sector reported 52% plunge in trade volume to 1.49mn equities, 52% in value to QR33.32mn and 30% in deals to 1,454.
The insurance sector’s trade volume plummeted 45% to 0.12mn stocks, value by 49% to QR4.11mn and transactions by 22% to 170.
There was 27% shrinkage in the transport sector’s trade volume to 0.76mn shares, 15% in value to QR22.93mn and 21% in deals to 311.
The real estate sector’s trade volume tanked 17% to 1.19mn equities, value by 24% to QR21.1mn and transactions by 24% to 784.
However, the consumer goods sector’s trade volume more than doubled to 0.52mn stocks but on 12% fall in value to QR19.17mn despite 27% higher deals at 310.
The telecom sector saw 16% surge in trade volume to 0.72mn shares but on 22% decline in value to QR9.17mn and 43% in transactions to 264.
The banks and financial services sector’s trade volume was up 13% to 1.94mn equities, whereas value shed 6% to QR76.79mn and deals by 7% to 956.
In the debt market, there was no trading of treasury bills and sovereign bonds.