The Qatar Stock Exchange on Sunday opened the week weak, despite strong buying interests in Islamic equities. Nevertheless, its key index was above the 10,000 levels.
The telecom and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.31% lower at 10,001.15 points, although it touched an intraday low of 9,965 points.
Foreign and Gulf funds were seen bearish in the market, whose year-to-date losses were at 4.07%.
Market capitalisation saw more than QR2bn or 0.36% decline to QR593.51bn, mainly owing to midcap segments.
A total of 11,624 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR101,805 changed hands across two transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover shrank amidst higher volumes in the bourse, where the industrials and consumer goods together accounted for about 74% of the total trading volume.
The Total Return Index declined 0.31% to 19,226.88 points and All Share Index by 0.44% to 3,093.22 points, while Al Rayan Islamic Index (Price) rose 0.11% to 2,359.32 points.
The telecom index shrank 0.96%, banks and financial services (0.77%), transport (0.25%), realty (0.14%) and industrials (0.12%); while insurance rose 0.69% and consumer goods and services (0.43%).
Major losers included Qatar Industrial Manufacturing, Ooredoo, QNB, Gulf Warehousing, United Development Company, QIIB, Mannai Corporation, Baladna and Industries Qatar; even as Medicare Group, Al Khaleej Takaful, Qamco, Salam International Investment, Doha Bank, Ezdan, Vodafone Qatar, Inma Holding, Investment Holding Group and Qatar Islamic Insurance were among the gainers.
The Gulf funds turned net sellers to the tune of QR9.12mn compared with net buyers of QR2.95mn on October 8.
Foreign funds were net sellers to the extent of QR4.61mn against net buyers of QR33.82mn the previous trading day.
Foreign individuals’ net buying increased markedly to QR0.21mn compared to QR0.11mn last Thursday.
The Arab institutions were net profit takers to the extent of QR0.02mn against no major exposure on October 8.
Domestic funds’ net buying declined considerably to QR2.07mn compared to QR14.49mn the previous trading day.
However, the Arab individuals turned net buyers to the extent of QR12.84mn against net sellers of QR4.62mn last Thursday.
Local individuals were net buyers to the tune of QR0.05mn compared with net sellers of QR44.63mn on October 8.
The Gulf individuals’ net profit booking was down perceptibly to QR1.01mn against QR1.89mn the previous trading day.
Total trade volumes rose 17% to 410.83mn shares, while value fell 5% to QR530.42mn and transactions by 16% to 9,804.
The consumer goods and services sector’s trade volume soared 78% to 147.38mn equities, value by 94% to QR137.32mn and deals by 32% to 2,086.
The insurance sector reported 28% surge in trade volume to 8.89mn stocks and 33% in value to QR18.66mn but on 9% fall in transactions to 362.
The industrials sector’s trade volume shot up 17% to 154.93mn shares and value by 11% to QR138.07mn, whereas deals were down 9% to 2,634.
There was 13% expansion in the real estate sector’s trade volume to 48.16mn equities, 12% in value to QR93.85mn and 6% in transactions to 1,562.
However, the banks and financial services sector’s trade volume plummeted 45% to 42.35mn stocks, value by 49% to QR116.61mn and deals by 38% to 2,420.
The telecom sector witnessed 16% shrinkage in trade volume to 3.61mn shares, 32% in value to QR8.27mn and 54% in transactions to 353.
The transport sector’s trade volume was down 6% to 5.53mn equities, value by 24% to QR17.64mn and deals by 47% to 387.