The Qatar Stock Exchange on Tuesday witnessed buying interests in four of the seven sectors but overall it settled a tad above 10,000 levels amidst weakened net selling from foreign funds.
More than 53% of the traded constituents extended gains even as the 20-stock Qatar Index declined about 65 points or 0.64% to 10.020.04 points, having touched an intraday high of 10,126 points.
The industrials sector witnessed higher-than-average profit booking pressure on the bourse, whose year-to-date losses widened to 3.93%.
The Gulf individuals were seen bearish and there was weakened net buying by local retail investors and domestic funds in the market, whose capitalisation nevertheless saw more than QR1bn or 0.19% jump to QR582.29bn, mainly owing to midcap segment.
The Islamic index was seen declining faster than the other indices on the bourse, which saw the Arab individuals turn bullish albeit at lower levels.
Trade turnover and volumes were on the decline on the market, where the industrials, banking and real estate sectors together accounted for more than 78% of the trading volume.
A total of 311,173 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha bank sponsored QETF) valued at QR1.5mn changed hands across 50 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.32% to 19,395.33 points and Al Rayan Islamic Index (Price) by 0.79% to 2,303.92 points; while All Share Index was up 0.12% to 3,104.79 points.
The industrials sector declined 0.92%, transport (0.35%) and consumer goods and services (0.07%); whereas telecom gained 0.77%, banks and financial services (0.59%), insurance (0.03%) and real estate (0.01%).
Major losers included Qatar Islamic Bank, Qatari Investors Group, Doha Bank, Qatar National Cement, Commercial Bank, QIIB, Al Khaliji, Inma Holding, Woqod, Industries Qatar, Qamco, Qatar Insurance, Barwa and Milaha.
Nevertheless, Doha Insurance, Qatar Industrial Manufacturing, QNB, Ezdan, Zad Holding, Alijarah Holding, Medicare Group, Widam Food, Gulf International Services, QLM and Vodafone Qatar were among the gainers.
The Gulf institutions turned net sellers to the tune of QR4.64mn compared with net buyers of QR0.39mn on February 22.
The foreign individuals were also net sellers to the extent of QR0.79mn against net buyers of QR12.93mn on Monday.
The Gulf individuals turned net sellers to the tune of QR0.37mn compared with net buyers of QR2.05mn the previous day.
The domestic institutions’ net buying declined significantly to QR4.97mn against QR33.33mn on February 22.
The local retail investors’ net buying also fell considerably to QR19.99mn compared to QR33.64mn on Monday.
However, the Arab individuals turned net buyers to the tune of QR0.91mn against net sellers of QR1.83mn the previous day.
The foreign funds’ net profit booking weakened markedly to QR20.08mn compared to QR80.55mn on February 22.
The Arab funds had no major net exposure against net buyers to the tune of QR0.1mn on Monday.
Total trade volume fell 26% to 129.53mn shares, value by 5% to QR413.96mn and transactions by 3% to 10,687.
The telecom sector’s trade volume plummeted 67% to 2.67mn equities, value by 69% to QR10.38n and deals by 58% to 633.
The market witnessed 40% plunge in the industrials sector’s trade volume to 48.91mn stocks, 40% in value to QR69.92mn and 12% in transactions to 2,501.
The consumer goods and services sector’s trade volume tanked 39% to 17.8mn shares, value by 22% to QR40.88mn and 20% in deals to 1,093.
There was 33% shrinkage in the transport sector’s trade volume to 3.61mn equities and 30% in value to QR13.72mn but on 16% growth in transactions to 611.
The banks and financial services sector’s trade volume was down 8% to 28.49mn stocks, while value shot up 29% to QR232.82mn and deals by 24% to 4,466.
However, the realty sector reported 42% surge in trade volume to 23.71mn shares, 39% in value to QR37.41mn and 25% in transactions to 1,180.
The insurance sector’s trade volume soared 32% to 4.33mn equities, value by 28% to QR9.33mn and deals by 23% to 203.