The Qatar Stock Exchange witnessed robust trading, coinciding with FTSE Russell’s reclassification of constituents taking effect on Thursday, but overall it was on a weak wicket due to selling pressure, especially at the telecom and real estate counters.
Foreign funds were seen bearish and there was increased net selling from local retail investors as the 20-stock Qatar Index settled 0.26% lower at 10,512.06 points.
Gulf individuals were also see increasingly net profit takers in the market, whose key benchmark settled 2.07% higher year-to-date.
Market capitalisation saw QR59mn, or a 0.1%, increase to QR583.23bn mainly owing to microcap segments.
Islamic equities were seen declining faster than the other indices in the market, where domestic funds were increasingly net buyers.
Trade turnover and volumes were on the increase in the bourse, where the banking, industrials, transport and realty sectors together accounted for about 85% of the total volume.
The Total Return Index declined 0.26% to 19,343.08 points, the Al Rayan Islamic Index (Price) by 0.35% to 2,357.28 points and the All Share Index by 0.09% to 3,089.41 points.
The telecom index plummeted 5.24%, realty (1.22%), consumer goods (0.65%) and transport (0.65%); while insurance gained 2.57%, banks and financial services (0.45%) and industrials (0.29%).
More than 64% of the traded constituents were in the red with major losers being Ooredoo, Vodafone Qatar, United Development Company, Barwa, Nakilat, Industries Qatar, Aamal Company, Commercial Bank, Doha Bank, Masraf Al Rayan, Qatar First Bank, Dlala, Qatar Oman Investment, Salam International Investment and Al Meera; even as QNB, Qatar National Cement, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Qatar Insurance and Milaha were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR8.84mn against net buyers of QR34.16mn on September 18.
Local retail investors’ net selling increased considerably to QR63.82mn compared to QR47.6mn the previous day.
Gulf individual investors’ net profit booking grew significantly to QR6.46mn against QR0.69mn on Wednesday.
However, domestic funds’ net buying rose substantially to QR78.69mn compared to QR21.36mn on September 18.
Non-Qatari individual investors were net buyers to the extent of QR5.86mn against net sellers of QR1.14mn the previous day.
Gulf funds’ net profit booking weakened marginally to QR5.44mn compared to QR6.05mn on Wednesday.
Total trade volume rose 79% to 192.22mn shares and value almost tripled to QR849.77mn on a 72% growth in transactions to 10,504.
The telecom sector’s trade volume grew more than five-fold to 9.59mn equities and value more than quadrupled to QR48.54mn on more-than- tripled deals to 1,809.
The transport sector’s trade volume more than quadrupled to 31.48mn stocks and value rose more than six-fold to QR161mn on more-than-tripled transactions to 1,293.
The banks and financial services sector’s trade volume more than doubled to 58mn shares and value almost tripled to QR343.64mn on a 35% jump in deals to 2,654.
The insurance sector reported a 86% surge in trade volume to 8.94mn equities, 79% in value to QR30.35mn and 11% in transactions to 396.
The real estate sector’s trade volume soared 46% to 29.17mn stocks to more than double value to QR41.74mn on a 36% increase in deals to 910.
There was a 27% expansion in the industrials sector’s trade volume to 49.68mn shares, 82% in value to QR164.29mn and 66% in transactions to 2,658.
However, the consumer goods sector’s trade volume declined 18% to 5.43mn equities but more than doubled value to QR60.21mn on a 36% growth in deals to 784.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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