The Qatar Stock Exchange Sunday witnessed foreign funds turn bullish even as it closed 29 points lower but remained above 10,700 levels.
The increased net buying from the Gulf institutions and the Arab individuals notwithstanding, the 20-stock Qatar Index settled 0.27% lower at 10,706.9 points, after touching an intraday high of 10,778 points.
The banking and industrials counters witnessed higher than average selling on the market, whose capitalisation saw more than QR1bn or 0.24% decline to QR620.94bn, mainly dragged by microcap segments.
The movers were seen outnumbering shakers in market, whose year-to-date gains were at 2.6%.
Trade turnover and volumes were on the decrease on the bourse, where the Islamic equities were seen declining slower than the other indices.
The local retail investors were increasingly net profit takers and the domestic funds turned bearish on the market, where the realty and banking sectors accounted for about 61% of the total trading volume.
A total of 49,836 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR323,759 changed hands across eight deals; while on the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.27% to 20,583.66 points, All Share Index by 0.3% to 3,279.13 points and Al Rayan Islamic Index (Price) by 0.22% to 2,419.89 points.
The banking and financial services sector index declined 0.51%, industrials (0.47%), telecom (0.18%) and transport (0.12%); whereas insurance gained 0.67%, real estate (0.42%) and consumer goods and services (0.36%).
Major losers included Dlala, Qatar National Cement, Qatar Industrial Manufacturing, Gulf International Services, QLM, Qatar First Bank and QNB; even as Al Khaleej Takaful, Inma Holding, Qatar Islamic Insurance, Mazaya Qatar, Aamal Company, Zad Holding and Baladna were among the gainers.
Qatari retail investors’ net selling increased markedly to QR27.58mn against QR7.66mn on January 21.
The Gulf individuals’ net profit booking rose marginally to QR0.72mn compared to QR0.51mn last Thursday.
The domestic funds turned net sellers to the tune of QR0.67mn against net buyers of QR4.43mn the previous trading day.
However, the foreign institutions turned net buyers to the extent of QR14.71mn compared with net sellers of QR5.26mn on January 21.
The Gulf institutions’ net buying increased noticeably to QR9.9mn against QR7.79mn last Thursday.
The Arab individuals’ net buying grew perceptibly to QR4.18mn compared to QR2.47mn the previous trading day.
The foreign individuals turned net buyers to the tune of QR0.31mn against net sellers of QR1.14mn on January 21.
The Arab funds continued to have no major exposure.
Total trade volume fell 26% to 197.55mn shares, value by 29% to QR449.95mn and transactions by 31% to 8,149.
The transport sector’s trade volume plummeted 65% to 1.56mn equities, value by 57% to QR8.29mn and deals by 56% to 177.
There was 56% plunge in the insurance sector’s trade volume to 9.32mn stocks, 54% in value to QR23.54mn and 64% in transactions to 344.
The consumer goods and services sector’s trade volume tanked 51% to 30.37mn shares, value by 64% to QR68.55mn and deals by 48% to 1,367.
The banks and financial services sector saw 43% shrinkage in trade volume to 54.9mn equities, 19% in value to QR197.29mn and 22% in transactions to 3,156.
The industrials sector’s trade volume shrank 35% to 32.66mn stocks, 33% in value to QR46.55mn and 43% in deals to 1,156.
The telecom sector’s trade volume eased 32% to 3.65mn shares, value by 42% to QR7.67mn and transactions by 65% to 163.
However, the realty sector’s trade volume more than doubled to 65.08mn equities and value more than doubled to QR98.06mn on 36% growth in deals to 1,786.