Strong selling pressure, especially across the banking and real estate counters, on Thursday led the Qatar Stock Exchange to knock off 141 points in its key index and QR12bn in capitalisation.
Foreign funds’ increased net profit booking was instrumental in dragging the 20-stock Qatar Index by 1.37% to 10,107.65 points, although it touched an intraday high of 10.244 points.
Foreign individuals were also seen bearish and there was higher selling pressure from local retail investors in the market, whose year-to-date losses were at 3.05%.
The Islamic stocks were seen declining slower than the other indices in the bourse, which saw about 83% of the traded constituents extent losses.
Market capitalisation saw a 2.02% fall to QR579.11bn, mainly owing to large and midcap segments.
A total of 29,000 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR144,010 changed hands across three 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 realty, banks and industrials sectors together accounted for more than 66% of the total trading volume.
The Total Return Index lost 1.37% to 19,431.63 points, the All Share Index by 1.66% to 3,111.87 points and the Al Rayan Islamic Index (Price) by 1.07% to 2,298.91 points.
The banks and financial services index shot up 2.21%, realty (1.98%), industrials (1.32%), consumer goods and services (1.28%), telecom (0.8%) and insurance (0.38%); whereas transport declined 0.88%.
Major shakers included Mazaya Qatar, Ezdan, Commercial Bank, QNB, Mesaieed Petrochemical Holding, Qatar National Cement, Industries Qatar, Gulf International Services, Qatar Electricity and Water, Qatari Investors Group, Qamco, Barwa and Ooredoo; even as Mannai Corporation, Milaha, Doha Bank, Nakilat and Widam Food were among the gainers.
Foreign funds turned net buyers to the tune of QR46.42mn compared with net sellers of QR1.97mn on November 18.
Domestic institutions’ net buying increased significantly to QR39.85mn against QR7.99mn on Wednesday.
Arab individuals’ net buying grew considerably to QR10.83mn compared to QR0.98mn the previous day.
Gulf institutions were net buyers to the extent of QR3.12mn against net sellers of QR3.32mn on November 18.
Gulf individuals turned net buyers to the tune of QR0.38mn compared with net sellers of QR4.59mn on Wednesday.
Arab institutions were net buyers to the tune of QR0.02mn against no major exposure the previous day.
However, Qatari investors’ net selling strengthened notably to QR6.44mn compared to QR0.74mn on November 18.
Foreign individuals were net profit takers to the extent of QR1.35mn against net buyers of QR1.93mn on Wednesday.
Total trade volumes fell 2% to 159.97mn shares, while value rose 3% to QR421.23mn despite 6% lower transactions at 9,459.
The consumer goods and services sector’s trade volume plummeted 33% to 15.34mn equities and value by 28% to QR31.04mn, while deals grew 13% to 930.
The insurance sector reported a 32% plunge in trade volume to 5.82mn stocks, 32% in value to QR14.5mn and 36% in transactions to 185.
The banks and financial services sector’s trade volume tanked 24% to 31.65mn shares, value by 2% to QR149.07mn and deals by 24% to 2,891.
However, the real estate sector saw a 31% surge in trade volume to 39.87mn equities, 26% in value to QR62.59mn and 25% in transactions to 1,688.
The industrials sector’s trade volume soared 15% to 34.41mn stocks and value by 5% to QR48.68mn; while deals were down 7% to 1,488.
There was a 13% expansion in the telecom sector’s trade volume to 2.83mn shares, 28% in value to QR15.47mn and 7% in transactions to 470.
The transport sector’s trade volume shot up 13% to 30.04mn equities, value by 18% to QR99.88mn and deals by 4% to 1,807.