The Qatar Stock Exchange on Tuesday saw mild profit booking, a day after it gained a huge 117 points, mainly on strong selling pressure at the real estate, insurance and transport counters.
There was increased net selling by non-Qatari individuals and foreign institutions’ net buying interests substantially weakened as the 20-stock Qatar Index shed 0.39% or 41 points to 10,470.83 points.
However, Gulf funds were seen bullish in the market, whose key benchmark settled 1.67% higher year-to-date.
Market capitalisation saw more than QR2bn, or 0.4% decline, to QR579.27bn mainly owing to micro and small cap segments.
Islamic equities were seen declining faster than the main index in the market, where domestic funds and local retail investors continued to be net sellers but with lesser intensity.
Trade turnover shrank amidst higher volumes in the bourse, where the banking, realty and industrials sectors together accounted for about 90% of the total volume.
The Total Return Index fell 0.39% to 19,267.22 points, the Al Rayan Islamic Index (Price) by 0.47% to 2,352.09 points and the All Share Index by 0.95% to 3,078.34 points.
The real estate index plummeted 3.39%, insurance (2.29%), transport (1.32%), banks and financial services (0.38%) and industrials (0.29%); while telecom and consumer goods gained 2.22% and 0.71% respectively.
More than 61% of the traded constituents were in the red with major losers being Ezdan, Mazaya Qatar, United Development Company, Qatar Insurance, Milaha, Nakilat, Gulf Warehousing, Qatar Islamic Bank, Doha Bank, Ahlibank Qatar, QIIB, Dlala and Industries Qatar; whereas Ooredoo, Qatar Oman Investment, Qatar First Bank, Vodafone Qatar, Woqod and Salam International Investment were among the gainers.
Non-Qatari institutions’ net buying declined significantly to QR30.62mn compared to QR136.87mn on September 16.
Non-Qatari individual investors’ net selling increased noticeably to QR8.94mn against QR2.26mn the previous day.
However, Gulf funds turned net buyers to the tune of QR8.01mn compared with net sellers of QR0.27mn on Monday.
Domestic funds’ net profit booking decreased considerably to QR5.25mn against QR77.85mn on September 16.
Local retail investors’ net selling also declined substantially to QR23.74mn compared to QR55.54mn on Monday.
Gulf individual investors’ net profit booking fell marginally to QR0.73mn against QR0.94mn on Monday.
Total trade volume rose 77% to 108.72mn shares, while value fell 14% to QR290.21mn and transactions by 5% to 8,601.
The banks and financial services sector’s trade volume more than doubled to 76.74mn equities while value declined 16% to QR120.1mn despite 2% higher deals at 2,737.
The real estate sector’s trade volume more than doubled to 43.46mn stocks, value soared 67% to QR40.38mn and transactions by 50% to 2,179.
The market witnessed a 77% surge in the consumer goods sector’s trade volume to 4.24mn shares but on a 17% contraction in value to QR17.39mn and 11% in deals to 448.
The telecom sector’s trade volume soared 36% to 4.01mn equities and value by 35% to QR23.76mn, while transactions were down 5% to 949.
There was a 16% expansion in the transport sector’s trade volume to 7.9mn stocks and 18% in value to QR22.3mn but on 19% decline in deals to 241.
The industrials sector’s trade volume shot up 13% to 31.22mn shares, whereas value shrank 37% to QR63.5mn and transactions by 25% to 1,915.
However, the insurance sector saw a 71% plunge in trade volume to 1.14mn equities, 76% in value to QR2.78mn and 78% in deals to 132.
In the debt market, there was no trading of treasury bills and sovereign bonds.