The Qatar Stock Exchange Tuesday witnessed mild profit booking pressure to sink below 10,400 levels, a day after it gained huge 122 points, mainly dragged by telecom, insurance and industrials sectors.
Foreign institutions’ net buying support was seen considerably weakening as the 20-stock Qatar Index settled 26 points or 0.25% lower at 10,381.74 points, amidst weakened trading activities.
However, domestic funds turned net buyers on the market, which is down 0.42% year-to-date.
Market capitalisation saw QR63mn or 0.11% decline to QR578.12bn mainly owing to microcap segments.
Islamic stocks were seen declining slower than the other indices on the bourse, where local retail investors and the Gulf funds continued to be net profit takers but with lesser intensity.
Trade turnover and volumes were on the decline on the bourse, where banking sector alone accounted for more than 47% of the total volume.
The Total Return Index was down 0.25% to 19,103.28 points, All Share Index by 0.12% to 3,082.14 points and Al Rayan Islamic Index (Price) by 0.08% to 2,288.13 points.
The telecom index declined 1.09%, insurance (0.66%), industrials (0.46%) and consumer goods (0.02%); while transport gained 0.21% and banks and financial services 0.04%. The real estate index was rather unchanged.
About 55% of the traded stocks were in the red with major decliners being Ooredoo, Qatar Islamic Bank, QIIB, Qatar Oman Investment, Islamic Holding Group, Qatari German Company for Medical Devices, Salam International Investment, Widam Food, Industries Qatar, Aamal Company, Qatar Insurance, Qatar Electricity and Water and Mesaieed Petrochemical Holding; even as Commercial Bank, Gulf Warehousing, Nakilat and Mazaya Qatar were among the gainers.
Non-Qatari institutions’ net buying declined substantially to QR18.64mn compared to QR59.38mn on January 6.
However, domestic funds turned net buyers to the tune of QR10.52mn against net sellers of QR1.04mn the previous day.
The Gulf individual investors were also net buyers to the extent of QR0.35mn compared with net sellers of QR0.94mn on Monday.
Local retail investors’ net selling shrank considerably to QR14.27mn against QR35.76mn on January 6.
The Gulf institutions’ net profit booking fell noticeably to QR10.45mn compared to QR15.85mn the previous day.
Non-Qatari individuals’ net selling also weakened marginally to QR4.79mn against QR5.79mn on Monday.
Total trade volumes fell 49% to 42.64mn shares, value by 44% to QR145.72mn and transactions by 53% to 4,120.
The insurance sector’s trade volume plummeted 91% to 0.24mn equities, value by 89% to QR0.66mn and deals by 78% to 72.
The real estate sector reported 71% plunge in trade volume to 4.27mn stocks, 78% in value to QR4.79mn and 68% in transactions to 229.
The consumer goods sector’s trade volume tanked 67% to 5.62mn shares and value by 40% to QR18.98mn, while deals grew 21% to 1,281.
There was 62% shrinkage in the industrials sector’s trade volume to 6.78mn equities, 68% in value to QR13.46mn and 62% in transactions to 575.
The transport sector’s trade volume shrank 51% to 2.49mn stocks, value by 9% to QR11.99mn and deals by 52% to 147.
The banks and financial services sector saw 12% contraction in trade volume to 20.05mn shares, 37% in value to QR83mn and 65% in transactions to 1,403.
However, the telecom sector’s trade volume was up 8% to 3.19mn equities, whereas value declined 11% to QR12.85mn and deals by 47% to 413.
In the debt market, there was no trading of treasury bills and sovereign bonds.