The Qatar Stock Exchange Wednesday saw strong buying support from foreign and domestic funds but overall it settled 44 points lower for the second day.
The transport, insurance, consumer goods and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index lost 44 points or 0.43% to 10,337.32 points, amidst heightened trading activities.
The Gulf institutions’ net profit booking was seen weakening considerably in the market, which is down 0.85% year-to-date.
Market capitalisation saw more than QR2bn, or 0.4%, decline to QR575.82bn mainly owing to small and microcap segments.
Islamic stocks were seen declining faster than the other indices in the bourse, where local and non-Qatari individual investors were increasingly net sellers.
Trade turnover and volumes were on the increase in the bourse, where the banking and consumer goods sectors together accounted for more than 57% of the total volume.
The Total Return Index shed 0.43% to 19,021.54 points, the All Share Index by 0.42% to 3,069.08 points and the Al Rayan Islamic Index (Price) by 0.65% to 2,273.48 points.
The transport index lost 1.31%, insurance (1.01%), consumer goods (0.83%), telecom (0.65%), industrials (0.42%) and banks and financial services (0.26%); while real estate was rather unchanged.
About 69% of the traded stocks were in the red with major decliners being Nakilat, Gulf Warehousing, Al Khaleej Takaful, Qatar Islamic Insurance, QIIB, Qatar First Bank, Alijarah Holding, Medicare Group, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding and Vodafone Qatar; even as Salam International Investment, Doha Bank, Widam Food, Baladna and United Development Company were among the gainers.
Local retail investors’ net selling increased considerably to QR37.61mn compared to QR14.27mn on January 7.
Non-Qatari individuals’ net profit booking grew noticeably to QR8.94mn against QR4.79mn the previous day.
However, non-Qatari funds’ net buying grew substantially to QR29.47mn compared to QR18.64mn on Tuesday.
Domestic institutions’ net buying also expanded perceptibly to QR18.89mn against QR10.52mn on January 7.
The Gulf individual investors’ buying increased marginally to QR0.68mn compared to QR0.35mn the previous day.
The Gulf institutions’ net profit booking fell significantly to QR2.51mn against QR10.45mn on Tuesday.
Total trade volumes rose 59% to 67.9mn shares, value by 46% to QR212.94mn and transactions by 8% to 4,460.
The insurance sector’s trade volume grew 13-fold to 3.12mn equities and value by about 10-fold to QR6.39mn on more-than-tripled deals to 218.
The consumer goods sector’s trade volume almost tripled to 15.42mn stocks, value soared 76% to QR33.49mn and transactions by 25% to 1,606.
The real estate sector’s trade volume more than doubled to 9mn shares and value almost doubled to QR9.1mn on a 53% increase in deals to 351.
There was a 71% surge in the telecom sector’s trade volume to 5.46mn equities but on a 10% decline in value to QR11.61mn and 5% in transactions to 394.
The industrials sector’s trade volume shot up 36% to 9.2mn stocks, value by 75% to QR23.49mn and deals by 9% to 629.
The banks and financial services sector saw a 16% jump in trade volume to 23.34mn shares and 44% in value to QR119.74mn but on a 20% shrinkage in transactions to 1,128.
However, the transport sector’s trade volume was down 5% to 2.37mn equities, value by 24% to QR9.12mn and deals by 9% to 134.
In the debt market, there was no trading of treasury bills and sovereign bonds.