The Qatar Stock Exchange on Thursday witnessed strong buying interests from domestic, foreign and Gulf funds, even as it settled marginally lower.
Selling pressure was seen intense at the real estate, telecom, transport and insurance counters as the 20-stock Qatar Index edged down about seven points or 0.07% to 9,958.37 points, although it touched an intraday high of 9,910 points.
Local retail investors were seen increasingly into profit booking in the market, whose year-to-date losses were at 4.48%.
Losers outnumbered gainers by a wide margin in the bourse, where Islamic stocks were seen declining faster than the other indices.
Market capitalisation saw about QR6bn, or 0.97%, decrease to QR587.99bn, mainly owing to mid and microcap segments.
A total of 120,526 exchange traded funds (both Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR658,231 changed hands across 10 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline in the bourse, where the industrials and realty sectors together accounted for about 63% of the total trading volume.
The Total Return Index shed 0.07% to 19,144.64 points, the Al Rayan Islamic Index (Price) by 0.55% to 2,322 points and the All Share Index by 0.09% to 3,074.25 points.
The real estate sector index plummeted 3.07%, telecom (2.12%), transport (1.08%), insurance (1.03%) and consumer goods and services (0.61%); while industrials gained 0.51% and banks and financial services 0.39%.
About 69% of the traded stocks were in the red with major losers being Ezdan, Dlala, Medicare Group, Mannai Corporation, Inma Holding, Qatar First Bank, Vodafone Qatar, Ooredoo, Alijarah Holding, Baladna, Aamal Company, Qamco, Al Khaleej Takaful, Nakilat, Doha Insurance, United Development Company and Mazaya Qatar; even as Qatar Electricity and Water, Industries Qatar, Commercial Bank, Al Khaliji and QNB were among the gainers.
Arab individuals turned net sellers to the tune of QR14.72mn against net buyers of QR4.39mn on October 21.
Foreign individuals’ net profit booking rose noticeably to QR7.7mn compared to QR2.73mn the previous day.
Local individuals’ net selling strengthened perceptibly to QR18.35mn against QR14.29mn on Wednesday.
Arab funds were net profit takers to the tune of QR0.01mn compared with no major exposure on October 21.
However, domestic funds’ net buying increase significantly to QR23.18mn against QR18.5mn the previous day.
Foreign institutions’ net buying also grew substantially to QR18.83mn compared to QR4.53mn on Wednesday.
Gulf funds’ net buying shot up markedly to QR8.06mn against QR4.79mn on October 21.
Gulf individuals’ net selling eased perceptibly to QR9.17mn compared to QR15.14mn the previous day.
Total trade volumes fell 4% to 195.26mn shares and value by 11% to QR398.9mn, while transactions were up 1% to 8,524.
There was a 47% plunge in the transport sector’s trade volume to 4.37mn equities, 55% in value to QR13.6mn and 21% in deals to 331.
The banks and financial services sector’s trade volume plummeted 37% to 32mn stocks, value by 26% to QR129.87mn and 26% in transactions to 2,368.
The insurance sector reported a 35% shrinkage in trade volume to 2.09mn shares, 38% in value to QR4.13mn and 27% in deals to 148.
The industrials sector’s trade volume tanked 25% to 68.43mn equities and value by 31% to QR81.19mn, whereas transactions were up 13% to 2,358.
However, the real estate sector’s trade volume more than doubled to 54.18mn stocks and value also more than doubled to QR108.25mn on a 75% jump in deals to 1,675.
The telecom sector’s trade volume more than doubled to 7.98mn shares and value almost doubled to QR16.42mn on a 44% gain in transactions to 529.
The consumer goods and services sector saw a 27% surge in trade volume to 26.2mn equities but on a 20% contraction in value to QR45.44mn and 4% in deals to 1,115.