Largely reflecting the international cues, the Qatar Stock Exchange on Thursday lost as much as 133 points to settle below 9,700 levels despite the strong buying support from domestic funds and local retail investors.
The industrials, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 1.35% lower at 9,691.02 points, although it touched an intraday high of 9,822 points.
Foreign institutions were seen hurriedly squaring off their positions in the market, whose year-to-date losses swelled to 7.05%, apparently reflecting the subdued corporate earnings in the first nine months of this year.
As much as three-fourth of the traded stocks were in the red in the bourse, where Islamic stocks were seen declining faster than the other indices.
Market capitalisation saw about QR9bn, or 1.5%, erosion to QR565.08bn, mainly owing to large and midcap segments.
A total of 62,023 exchange traded funds (both Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR322,349 changed hands across six deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover grew amidst lower volumes in the bourse, where the insurance, realty and banking sectors together accounted for more than 69% of the total trading volume.
The Total Return Index fell 1.35% to 18,630.66 points, the Al Rayan Islamic Index (Price) by 1.63% to 2,227.12 points and the All Share Index by 1.2% to 3,003.72 points.
The industrials index plummeted 2.91%, real estate (1.55%), consumer goods and services (1.42%), banks and financial services (1.01%), telecom (0.33%) and transport (0.01%); while insurance shot up 3.03%.
Major losers included Dlala, Qatari German Medical Devices, Dlala, Qatar Industrial Manufacturing, Mannai Corporation, QNB, Commercial Bank, QIIB, Masraf Al Rayan, Inma Holding, Woqod, Baladna, Industries Qatar, Aamal Company, Qatar Electricity and Water, Qamco, Mesaieed Petrochemical Holding, Ezdan and Mazaya Qatar; even as Qatar Insurance, Qatar First Bank, Qatar National Cement, Vodafone Qatar and Al Khaliji were among the gainers.
Foreign institutions were net sellers to the tune of QR68.22mn compared with net buyers of QR5.93mn on October 28.
Gulf individuals turned net sellers to the extent of QR5.03mn against net buyers of QR0.42mn the previous day.
However, domestic funds’ net buying increased substantially to QR44.02mn compared to QR15.51mn on Wednesday.
Local individuals turned net buyers to the tune of QR24.62mn against net sellers of QR18.46mn on October 28.
Gulf institutions’ net buying grew markedly to QR8.84mn compared to QR2.46mn the previous day.
Foreign individuals’ net buying expanded perceptibly to QR2.06mn against QR1.56mn on Wednesday.
Arab funds were net buyers to the extent of QR0.02mn compared with net sellers of QR0.38mn on October 28.
Arab individuals’ net profit booking fell marginally to QR6.39m against QR7.01mn the previous day.
Total trade volumes fell 4% to 187.39mn shares, while value rose 12% to QR389.58mn but on 3% fall in transactions to 8,663.
The market witnessed a 38% plunge in the industrials sector’s trade volume to 45.84mn equities, 3% in value to QR62.6mn and 5% in deals to 1,653.
The banks and financial services sector’s trade volume was down 8% to 41.01mn stocks, while value grew 6% to Q158.71mn and transactions by 13% to 3,348.
However, the transport sector’s trade volume more than doubled to 10.14mn shares and value also more than doubled to QR42.34mn but on a 28% fall in deals to 346.
There was a 51% surge in the real estate sector’s trade volume to 43.33mn equities, 16% in value to QR60.67mn and 34% in transactions to 1,438.
The insurance sector’s trade volume soared 39% to 4.45mn stocks, value by 40% to QR9.04mn and deals by 27% to 190.
The telecom sector reported 32% expansion in trade volume to 7.4mn shares but on 9% shrinkage in value to QR16.76mn and 72% in transactions to 427.
The consumer goods and services sector’s trade volume was up less than 1% to 35.22mn equities but on 2% decline in value to QR39.46mn despite 31% higher deals at 1,261.