The Qatar Stock Exchange on Thursday witnessed strong buying interests from domestic and Gulf funds but overall it settled 57 points lower.
The insurance, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.53% for the second straight session to 10,624.06 points.
Non-Qatari institutions were seen net profit takers on the market, which is however up 1.9% year-to-date.
Market capitalisation saw about QR4bn or 0.67% decline to QR589.79bn mainly owing to small and microcap segments.
Islamic stocks were seen declining slower than the other indices of the bourse, where local and the Gulf retail investors were increasingly net sellers.
Trade turnover were lower amidst higher volumes on the bourse, where realty, banking and industrials sectors together accounted for more than 88% of the total volume.
The Total Return Index shed 0.53% to 19,549.17 points, All Share Index by 0.59% to 3,151.27 points and Al Rayan Islamic Index (Price) by 0.38% to 2,345.97 points.
The insurance index tanked 1.48%, transport (0.7%), banks and financial services (0.64%), industrials (0.52%), telecom (0.52%) and real estate (0.42%); while consumer goods was up 0.12%.
More than 53% of the traded constituents were in the red with major losers being Nakilat, Ezdan, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding, Gulf International Services, Industries Qatar, Mannai Corporation, QNB, QIIB and Vodafone Qatar; even as Qatar First Bank, Widam Food, Alijarah Holding and Qatar National Cement were among the gainers.
Non-Qatari funds turned net sellers to the tune of QR2.2mn compared with net buyers of QR31.15mn on January 22.
However, domestic institutions’ net buying increased significantly to QR16.13mn against QR12.2mn the previous day.
Non-Qatari individuals were net buyers to the extent of QR3.44mn compared with net sellers of QR2.12mn on Wednesday.
The Gulf institutions turned net buyers to the tune of QR2.12mn against net profit takers of QR4.17mn on January 22.
The Gulf individuals’ net selling declined noticeably to QR0.88mn compared to QR6.96mn the previous day.
Local retail investors’ net profit booking fell perceptibly to QR18.64mn against QR29.25mn on Wednesday.
Total trade volumes grew 38% to 118.55mn shares, while value fell 16% to QR203.69mnm despite 10% higher transactions at 4,624.
The real estate sector’s trade volume more than doubled to 54.44mn equities and value also more than doubled to QR44.14mn on 73% increase in deals to 1,057.
The telecom sector’s trade volume soared 65% to 6.3mn stocks and value more than doubled to QR16.83mn on 57% jump in transactions to 406.
The banks and financial services sector saw 7% growth in trade volume to 37.11mn shares but on 41% decline in value to QR91.32mn despite 9% higher deals at 1,827.
However, the consumer goods sector’s trade volume plummeted 39% to 3.87mn equities, value by 18% to QR18.6mn and transactions by 35% to 409.
The insurance sector reported 33% plunge in trade volume to 0.62mn stocks, 10% in value to QR1.64mn and 3% in deals to 105.
The transport sector’s trade volume tanked 21% to 3.09mn shares, value by 22% to QR8.31mn and transactions by 27% to 141.
There was 8% shrinkage in the industrials sector’s trade volume to 13.13mn equities, 4% in value to QR22.85mn and 9% in deals to 679.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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