The Qatar Stock Exchange on Thursday lost more than 18 points mainly on the back of profit booking pressure from foreign institutions.
Insurance, transport, industrials, realty and consumer goods counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.17% lower at 10,426.37 points.
The weakened buying interests of domestic funds and non-Qatari individuals also played its role on the market, which reported 1.24% gains year-to-date.
Market capitalisation saw more than QR1bn or 0.27% fall to QR581.81bn mainly owing to microcap segments.
Islamic stocks were seen declining faster than the other indices on the market, where local and Gulf retail investors turned bullish.
Trade turnover and volumes were on the increase on the bourse, where banking sector alone accounted for more than 57% of the total volume.
The Total Return Index was down 0.17% to 19,185.4 points, All Share Index by 0.23% to 3,098.4 points and Al Rayan Islamic Index (Price) by 0.33% to 2,315.76 points.
The insurance index declined 1.14%, transport (0.78%), industrials (0.46%), banks and financial services (0.33%), real estate (0.33%) and consumer goods (0.28%); while telecom was flat.
Major losers included Alijarah Holding, Qatar First Bank, Qatar Oman Investment, Qatar National Cement, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Qatar Insurance, Doha Insurance, Qatar General Insurance and Reinsurance, Barwa, Nakilat and Milaha; even as Commercial Bank, QIIB, Islamic Holding Group, Widam Food, Qatari Investors Group and Untied Development Company were among the gainers.
Non-Qatari institutions were net sellers to the tune of QR22.85mn compared with net buyers of QR1.02mn on December 25.
Domestic institutions’ net buying weakened considerably to QR3.4mn against QR6.5mn the previous day.
Non-Qatari individuals’ net buying fell marginally to QR2.24mn compared to QR2.71mn on Wednesday.
However, the Gulf institutions’ net buying increased noticeably to QR9.21mn against QR4.62mn on December 25.
Local retail investors turned net buyers to the extent of QR6.89mn compared with net sellers of QR14.73mn the previous day.
The Gulf individual investors were also net buyers to the tune of QR1.1mn against net profit takers of QR0.12mn on Wednesday.
Total trade volumes rose 13% to 51.42mn shares, value by 64% to QR116.15mn and transactions by 68% to 3,802.
The telecom sector’s trade volume more than doubled to 1.83mn equities and value rose more than five-fold to QR7.96mn on more than six-fold jump in deals to 381.
The banks and financial services sector saw 85% surge in trade volume to 29.32mn stocks on more than doubled value to QR58.64mn and almost tripled transactions to 1,494.
The real estate sector’s trade volume soared 38% to 4.07mn shares and value by 65% to QR6.21mn on more than doubled deals to 270.
There was 6% growth in the industrials sector’s trade volume to 8.68mn equities, 77% in value to QR22.2mn and 26% in transactions to 749.
However, the insurance sector’s trade volume plummeted 73% to 0.88mn stocks and value by 75% to QR2.32mn, whereas deals were up 4% to 103.
The consumer goods sector reported 59% surge in trade volume to 5.22mn shares, 14% in value to QR13.58mn and 7% in transactions to 680.
The transport sector’s trade volume tanked 21% to 1.43mn equities, while value grew 1% to QR5.24mn and deals by 12% to 125.
In the debt market, there was no trading of treasury bills and sovereign bonds.
