Foreign institutions’ weakened buying interests Tuesday led the Qatar Stock Exchange shed more than 100 points to retreat below 10,400 levels.
Telecom, industrials and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index plunged 0.96% to 10,314.62 points, which is up 21.02% year-to-date.
Market capitalisation eroded more than QR5bn or 0.86% to QR578.74bn, mainly on account of large cap equities.
However, domestic funds and non-Qatari individuals turned bullish on the market, where Islamic stocks were seen declining slower than the main barometer.
Trade turnover and volumes were on the increase on the bourse, where banking and transport sectors together accounted for about 54% of the total volume.
The Total Return Index shrank 0.96% to 18,173.21 points, All Share Index by 0.77% to 3,044.04 points and Al Rayan Islamic Index (Price) by 0.87% to 2,411.03 points.
The telecom index declined 1.83%, industrials (1.14%), banks and financial services (0.97%), transport (0.16%) and realty (0.12%); while insurance gained 0.41%. The consumer goods index was rather flat.
About 59% of the traded stocks were in the red with major shakers being Ooredoo, Industries Qatar, Commercial Bank, Masraf Al Rayan, Medicare Group, QNB and Qatar Islamic Bank; even as Qatar First Bank, Salam International Investment, Gulf International Services and Qatar First Bank were among the gainers.
Non-Qatari funds’ net buying declined significantly to QR12.87mn compared to QR44.25mn the previous day.
The Gulf institutions’ net buying weakened perceptibly to QR1.02mn against QR4.19mn on November 12.
The Gulf individuals’ net buying declined marginally to QR0.34mn compared to QR0.39mn on Monday.
However, domestic funds turned net buyers to the tune of QR8.54mn against net sellers of QR4.54mn the previous day.
Non-Qatari individuals were also net buyers to the extent of QR1.55mn compared with net sellers of QR0.37mn on November 12.
Local individuals’ net profit booking eased considerably to QR24.3mn against QR43.49mn the previous day.
Total trade volume grew 26% to 5.59mn shares, value by 5% to QR227.75mn and transactions by 2% to 3,994.
The transport sector’s trade volume more than doubled to 1.22mn equities and value soared 62% to QR22.21mn but on 14% decline in deals to 189.
The banks and financial services sector saw 64% surge in trade volume to 1.79mn stocks, 7% in value to QR68.55mn and 17% in transactions to 1,187.
The telecom sector’s trade volume soared 35% to 0.46mn shares to more than double value to QR10.03mn on more than doubled deals to 391.
The consumer goods sector reported 10% growth in trade volume to 0.43mn equities and 19% in value to QR70.79mn but on less than 1% fall in transactions to 1,006.
However, the real estate sector’s trade volume plummeted 28% to 0.84mn stocks, value by 48% to QR15.3mn and deals by 25% to 515.
There was 9% decline in the insurance sector’s trade volume to 0.1mn shares but on 16% expansion in value to QR2.47mn and 21% in transactions to 75.
The industrials sector’s trade volume was down 5% to 0.75mn equities, value by 13% to QR38.39mn and deals by 19% to 631.
In the debt market, there was no trading of treasury bills and sovereign bonds.