Substantial selling pressure especially in the last few minutes of trading drove the Qatar Stock Exchange below 10,400 levels on Sunday.
The industrials and consumer goods counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.23% lower at 10,395.78 points, although it touched an intraday high of near 10,440 points.
The weakened buying interests of foreign and domestic institutions rather depressed the sentiments in the market, whose key benchmark is up 0.94% year-to-date.
Market capitalisation saw QR76mn, or 0.13%, decline to QR575.86bn mainly owing to microcap segments.
Islamic equities saw faster declines than the other indices in the market, where the Gulf and non-Qatari individuals turned bullish.
Trade turnover declined amidst higher volumes in the bourse, where the industrials and realty sectors together accounted for more than 55% of the total volume.
The Total Return Index fell 0.23% to 19,129.12 points, the All Share Index by 0.04% to 3,062.7 points and the Al Rayan Islamic Index (Price) by 0.34% to 2,347.06 points.
The industrials index declined 0.92%, consumer goods and services (0.83%) and banks and financial services (0.08%); whereas real estate gained 2.19%, telecom (0.46%) and insurance (0.14%). The transport index treaded a flat path.
Major losers included Qatari Investors Group, Industries Qatar, Commercial Bank, QNB, Al Khaliji, Qatar Industrial Manufacturing, Gulf International Services, Mesaieed Petrochemical Holding and Mazaya Qatar; even as QIIB, Qatari German Company for Medical Devices, Ezdan, Dlala, Doha Bank, Al Khaleej Takaful, Qatar General Insurance and Reinsurance, Ooredoo and Untied Development Company were among the gainers.
Non-Qatari institutions’ net buying declined substantially to QR2.35mn compared to QR12.33mn the previous trading day.
Domestic funds’ net buying also weakened considerably to QR9.84mn against QR14.94mn on September 26.
However, the Gulf individuals turned net buyers to the tune of QR0.83mn compared with net sellers of QR0.54mn last Thursday.
Non-Qatari individuals were also net buyers to the extent of QR0.35mn against net sellers of QR2mn the previous trading day.
Gulf institutions’ net selling declined influentially to QR0.56mn compared to QR11.33mn on September 26.
Local retail investors’ net profit booking eased perceptibly to QR12.8mn against QR14.14mn last Thursday.
Total trade volume rose 6% to 105.83mn shares, while value fell 21% to QR193.02mn and transactions by 35% to 4,767.
The consumer goods sector’s trade volume almost tripled to 17.41mn equities and value soared 28% to QR26.89mn, whereas deals shrank 37% to 529.
The transport sector reported a 71% surge in trade volume to 4.93mn stocks and 19% in value to QR16.03mn but on a 16% fall in transactions to 194.
The insurance sector’s trade volume expanded 24% to 3.14mn shares and value by 2% to QR7.01mn, while deals were down 3% to 229.
The real estate sector saw a 21% expansion in trade volume to 27.7mn equities and 28% in value to QR26.31mn but on a 34% contraction in transactions to 568.
However, the telecom sector’s trade volume plummeted 45% to 2.45mn stocks, value by 56% to QR10.37mn and deals by 56% to 380.
There was a 24% plunge in the industrials sector’s trade volume to 30.96mn shares, 36% in value to QR48.16mn and 24% in transactions to 1,847.
The banks and financial services sector’s trade volume was down less than 1% to 19.24mn equities, value by 31% to QR58.24mn and deals by 46% to 1,020.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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