The telecom, consumer goods, banks and transport counters on Monday witnessed higher than average selling pressure on the Qatar Stock Exchange, which settled lower for the third straight session at sub-10,400 levels.
Domestic funds’ buying interests substantially weakened as the 20-stock Qatar Index settled 0.15% lower at 10,396.58 points.
Gulf individuals were increasingly net profit takers in the market, whose key benchmark is, however, up 0.95% year-to-date.
Market capitalisation saw QR12mn, or 0.02%, decline to QR575.29bn mainly owing to microcap segments.
Islamic equities were seen declining faster than the other indices in the market, where foreign funds were increasingly bullish.
Trade turnover grew amidst lower volumes in the bourse, where the banking, industrials and real estate sectors together accounted for more than 70% of the total volume.
The Total Return Index was down 0.15% to 19,130.59 points, the All Share Index by 0.07% to 3,066.83 points and the Al Rayan Islamic Index (Price) by 0.18% to 2,337.07 points.
The telecom index declined 0.61%, consumer goods (0.32%), banks and financial services (0.27%) and transport (0.22%); while insurance, industrials and real estate grew 0.59%, 0.49% and 0.19% respectively.
About 59% of the traded constituents were in the red with major losers being Ooredoo, Vodafone Qatar, Masraf Al Rayan, Qatar Islamic Bank, Qatar First Bank, Dlala, Qatar Oman Investment, Qatari German Company for Medical Devices and Qatari Investors Group; even as Qatar Electricity and Water, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Mazaya Qatar and Nakilat were among the gainers.
Domestic institutions’ net buying weakened considerably to QR0.17mn compared to QR22.41mn on October 20.
Gulf individuals’ net profit booking grew perceptibly to QR1.88mn against QR0.8mn the previous day.
However, non-Qatari funds’ net buying increased substantially to QR16.77mn compared to QR3.28mn on Sunday.
Gulf institutions turned net buyers to the tune of QR4.84mn against net sellers of QR0.18mn on October 20.
Local retail investors’ net selling declined noticeably to QR20.19mn compared to QR23.42mn the previous day.
Non-Qatari individuals’ net profit booking fell marginally to QR0.46mn against QR1.27mn on Sunday.
Total trade volume fell 12% to 55.58mn shares, while value rose 63% to QR191.91mn and transactions by 54% to 4,564.
The real estate sector’s trade volume plummeted 58% to 10.9mn equities, value by 64% to QR10.27mn and deals by 15% to 368.
The consumer goods sector reported a 48% plunge in trade volume to 4.91mn stocks but on a 7% jump in value to QR23.6mn despite 26% lower transactions at 521.
The industrials sector’s trade volume was down 8% to 14.07mn shares, whereas value rose 85% to QR28.5mn and deals by 17% to 1,020.
However, the transport sector’s trade volume grew more than seven-fold to 4.72mn equities and value by more than six-fold to QR13.59mn on more-than-tripled transactions to 237.
The insurance sector’s trade volume more than quadrupled to 3.88mn stocks and value also more than quadrupled to QR9.63mn on more-than-tripled deals to 275.
The telecom sector’s trade volume more than tripled to 2.97mn shares and value more than quadrupled to QR10.75mn on more-than-quadrupled transactions to 565.
The banks and financial services sector saw a 35% surge in trade volume to 14.13mn equities to more than double value to QR95.57mn on more-than-doubled deals to 1,578.
In the debt market, there was no trading of treasury bills and sovereign bonds.
