The Qatar Stock Exchange Tuesday witnessed strong buying interests from the local and foreign retail investors, even as it closed 35 points lower, ahead of Eid holidays.
The Gulf funds were also seen increasingly into net buying despite 0.23% decline in the 20-stock Qatar Index to 10,925.54 points, having recovered from an intraday low of 10,885 points.
Six of the seven sectors were under the selling pressure in the bourse, whose year-to-date gains were at 4.69%.
About 49% of the traded constituents were in the red in the market, whose capitalisation saw more than QR1bn or 0.23% decrease to QR633.87bn, mainly owing to microcap segments.
The Islamic index was seen declining slower than the other indices in the market, which saw the industrials, consumer goods and banking sectors together constituted more than 81% of the total trading volume.
The overall trade volumes and turnover were on the decline in the bourse, where the domestic funds were increasingly net profit takers.
The insurance, industrials, insurance and transport counters witnessed higher than average selling in the market, which saw a total of 62,000 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR282,259 changed hands across nine deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shed 0.23% to 21,627.17 points, Al Rayan Islamic Index (Price) by 0.03% to 2,535.21 points and All Share Index by 0.18% to 3,460.24 points.
The insurance index declined 0.75%, industrials (0.3%), insurance and transport (0.24% each), telecom (0.21%) and banks and financial services (0.21%); while consumer goods and services was down 0.08%.
Major losers included Qatar Oman Investment, Salam International Investment, Qatar Insurance, Industries Qatar, Alijarah Holding, QNB, Ooredoo and Nakilat; even as Qatari Investors Group, Al Khaleej Takaful, Gulf International Services, Mazaya Qatar, Doha Bank, Qatar National Cement and Doha Insurance were among the gainers.
The domestic funds’ net profit booking expanded significantly to QR36.34mn against QR18.35mn on May 10.
The Gulf individuals’ net selling strengthened noticeably to QR1.71mn compared to QR0.22mn on Monday.
Foreign institutions’ net buying eased substantially to QR4.43mn compared to QR31.82mn the previous day.
The Arab individuals’ net buying declined considerably to QR1.05mn against QR10.01mn on May 10.
However, local retail investors were net buyers to the tune of QR25.82mn compared with net sellers of QR27.49mn on Monday.
Foreign individuals’ net buying grew markedly to QR4.12mn against QR2.98mn on May 10.
The Gulf institutions’ net buying strengthened notably to QR3.14mn compared to QR1.19mn on Monday.
The Arab institutions continued to have no major net exposure.
Total trade volume fell 40% to 151.36mn shares, value by 36% to QR348.89mn and transactions by 31% to 7,563.
The telecom sector’s trade volume plummeted 59% to 0.91mn equities, value by 51% to QR5.44mn and deals by 51% to 266.
The market witnessed 48% plunge in the industrials sector’s trade volume to 62.57mn stocks, 51% in value to QR113.03mn and 30% in transactions to 2,658.
The consumer goods and services sector’s trade volume tanked 46% to 31.72mn shares, value by 44% to QR44.73mn and deals by 31% to 1,105.
The banks and financial services sector saw 42% shrinkage in trade volume to 29.02mn equities, 23% in value to QR136.65mn and 44% in transactions to 2,159.
The transport sector’s trade volume shrank 27% to 1.46mn stocks and value by 30% to QR5.2mn, whereas deals were up 6% to 276.
However, the insurance sector reported 64% surge in trade volume to 4.93mn shares, 80% in value to QR18.05mn and 53% in transactions to 450.
The real estate sector’s trade volume expanded 25% to 20.75mn equities, 3% in value to QR26.8mn and 6% in deals to 649.