The Qatar Stock Exchange on Tuesday fell below 11,400 points, reflecting the global apprehensions over the efficacy of vaccines against the Omicron variant of Covid-19.
Notwithstanding the strong buying from domestic funds, the 20-stock Qatar Index lost more than 85 points or 0.74% to 11,386.31 points, although it touched an intraday high of 11,498 points.
The global sentiments became weak after the pharma major Moderna's chief, Stéphane Bancel, warned that Covid-19 vaccines were unlikely to be as effective against the Omicron variant of the coronavirus as they have been against the Delta version.
The local retail investors were nevertheless seen increasingly into net buying in the market, whose year-to-date gains were at 9.11%.
The industrials and telecom counters witnessed higher than average selling pressure in the bourse, which saw Islamic index decline faster than the other indices.
The Gulf institutions were net sellers in the market, whose capitalisation saw more than QR5bn or 0.79% decline to QR653.93bn, mainly on large and small cap segments.
The foreign individuals were also seen bearish in the bourse, where the industrials and banking sectors together constituted more than 65% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, which saw a total of 105,840 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.14mn trade across 13 deals.
The foreign funds continued to be net buyers but with lesser intensity in the bourse, which saw as many as 113,500 sovereign bonds valued at QR1.13bn change hands across two transactions.
The Total Return Index shrank 0.74% to 22,539.88 points, Al Rayan Islamic Index (Price) by 0.84% to 2,546.29 points and All Share Index by 0.56% to 3,609.42 points.
The industrials sector index tanked 2.41%, telecom (1.13%), real estate (0.3%) and banks and financial services (0.16%); while insurance gained 1.17%, transport (0.75%) and consumer goods and services (0.03%).
About 59% of the traded constituents were in the red with major losers being Qamco, Qatar Islamic Bank, Aamal Company, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Oman Investment, Inma Holding, Qatar Electricity and Water, Gulf International Services, Ooredoo and Vodafone Qatar. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Masraf Al Rayan, Qatar Islamic Insurance, Commercial Bank, Doha Bank, Nakilat, Medicare Group and Qatar Insurance were among the gainers in the main market. In the juniour bourse, Mekdam Holding shares made gains.
The Gulf institutions turned net sellers to the tune of QR12.63mn against net buyers of QR25.13mn on November 29.
The foreign individuals were net sellers to the extent of QR7.37mn compared with net buyers of QR9.47mn on Monday.
The Gulf individuals’ net profit booking increased markedly to QR2.97mn against QR0.9mn the previous day.
However, Qatari individuals’ net buying grew perceptibly to QR52.75mn compared to QR49.79mn on November 29.
The domestic institutions’ net buying expanded drastically to QR43.2mn against QR6.21mn on Monday.
The Arab individuals turned net buyers to the tune of QR3.51mn compared with net sellers of QR8.45mn the previous day.
The foreign funds’ net profit booking decreased notably to QR76.5mn against QR81.24mn on November 29.
The Arab institutions had no major net exposure for the third straight session.
Total trade volume in the main market grew 26% to 196.53mn shares and value more than doubled to QR1.04bn on 2% jump in transactions to 15,371.
The insurance sector’s trade volume grew more than five-fold to 6mn equities and value by six-fold to QR20.64mn on 53% increase in deals to 170.
The transport sector’s trade volume more than doubled to 8.98mn stocks and value also more than doubled to QR34.32mn on 32% growth in transactions to 638.
The telecom sector’s trade volume more than doubled to 7.86mn shares and value also more than doubled to QR38.89mn on 6% jump in deals to 1,135.
The banks and financial services sector’s trade volume soared 72% to 74mn equities and value more than doubled to QR650.65mn on 5% rise in transactions to 8,977.
There was 54% surge in the real estate sector’s trade volume to 23.91mn stocks, 92% in value to QR45.85mn and 33% in deals to 1,033.
However, the consumer goods and services sector’s trade volume tanked 30% to 21.65mn shares, while value expanded 15% to QR55.77mn despite 31% lower transactions at 894.
The industrials sector reported 7% shrinkage in trade volume to 54.13mn equities but on 52% growth in value to QR191.84mn amidst 12% lower deals at 2,554.
In the venture market, volume, value and deals were seen expanding 39.9%, 34.22% and 7.41% respectively.