Domestic funds on Sunday extended substantial buying support to the Qatar Stock Exchange, which, however, fell 225 points to settle below 10,400 points, reflecting the apprehensions over increased uncertainties in the region.
Foreign funds squared off their position as the 20-stock Qatar Index shed 2.14% to 10,286.31 points, amidst heightened trading activities.
The Gulf funds were also seen increasingly into profit booking in the market, whose capitalisation saw more than QR12bn, or 2.11%, erosion to QR573.03bn mainly owing to large and small cap segments.
Islamic stocks were seen declining faster than the other indices in the bourse, where local retail investors’ net selling pressure weakened.
“It is a panic reaction owing to the peculiar situation (in the region). The market is expected to remain volatile in the short-to-medium term,” an analyst with a leading brokerage house said.
Trade turnover and volumes were on the increase in the bourse, where the realty, banking and industrials sectors together accounted for about 48% of the total volume.
The Total Return Index declined 2.14% to 18,927.68 points, the All Share Index by 2.08% to 3,053.95 points and the Al Rayan Islamic Index (Price) by 2.37% to 2,272.68 points.
The telecom index plummeted 3.46%, insurance (3.33%), real estate (3.2%), transport (2.71%), industrials (2.17%), consumer goods (1.91%) and banks and financial services (1.75%).
About 96% of the traded stocks were in the red with major losers being Ooredoo, Vodafone Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Qatar Insurance, Al Khaleej Takaful, Ezdan, Barwa, Nakilat, Gulf Warehousing, QNB, Qatar Islamic Bank, Commercial Bank, QIIB, Masraf Al Rayan, Qatar First Bank, Qatar Oman Investment, Salam International Investment and Qatar Industrial Manufacturing.
Non-Qatari institutions turned net sellers to the tune of QR10.01mn compared with net buyers of QR33.6mn on January 2.
Non-Qatari individuals’ net selling increased considerably to QR7.83mn against QR4.07mn the previous trading day.
The Gulf institutions’ net profit booking grew noticeably to QR3.65mn compared to QR1.76mn last Thursday.
The Gulf individual investors were net sellers to the extent of QR0.45mn against net buyers of QR0.01mn on January 2.
However, domestic funds’ net buying shot up substantially to QR42.08mn compared to QR1.68mn the previous trading day.
Local retail investors’ net profit booking eased perceptibly to QR20.11mn against QR29.48mn last Thursday.
Total trade volumes more than doubled to 122.8mn shares and value also more than doubled to QR298.83mn on almost-tripled-transactions to 6,856.
The real estate sector’s trade volume grew more than six-fold to 34.69mn equities and value by almost seven-fold to QR42.07mn on more-than- quadrupled deals to 908.
The telecom sector’s trade volume rose almost five-fold to 4.01mn stocks and value also almost five-fold to QR14.51mn on almost-quadrupled transactions to 453.
The transport sector’s trade volume more than quadrupled to 4.17mn shares and value quadrupled to QR10.96mn on more-than-five-fold jump in deals to 338.
The consumer goods sector’s trade volume almost tripled to 18.84mn equities and value more than quadrupled to QR35.41mn on more-than-tripled transactions to 1,475.
The insurance sector’s trade volume more than doubled to 4.74mn stocks and value also more than doubled to QR10.09mn on more-than-doubled deals to 291.
The banks and financial services sector saw a 84% surge in trade volume to 32.49mn shares and 91% in value to QR141.24mn on more-than-doubled transactions to 2,003.
The industrials sector’s trade volume soared 67% and value almost doubled to QR44.55mn on more-than-doubled deals to 1,388.
In the debt market, there was no trading of treasury bills and sovereign bonds.