The Qatar Stock Exchange on Thursday witnessed weakened buying interests of local retail investors and domestic funds; leading it to close 54 points lower.
Telecom, insurance and real estate counters saw higher than average selling pressure, which led to a 0.56% decline in the 20-stock Qatar Index to 9,621.7 points.
Some three-fourth of the trading equities was in the red on the market, whose key benchmark is 6.58% lower year-to-date.
Market capitalisation eroded about QR3bn or 0.51% to QR529.41bn mainly dragged by small and midcap segments.
Islamic equities were seen declining faster than the other indices on the market, where the non-Qatari funds continued to be net sellers but with lesser intensity.
Trade turnover and volumes were on the increase on the bourse, where banking, industrials and realty sectors together accounted for more than 77% of the total volume.
The Total Return Index fell 0.56% to 17,704.73 points, All Share Index by 0.61% to 2,838.92 points and Al Rayan Islamic Index (Price) by 0.74% to 2,211.35 points.
The telecom index plummeted 3.04%, insurance (2.52%), real estate (1.26%), transport (0.84%), industrials (0.42%) and banks and financial services (0.32%); while consumer goods gained 0.39%.
Major losers included Vodafone Qatar, Ooredoo, Qatar Insurance, Qatari Investors Group, Doha Bank, QIIB, Dlala, Qatar Oman Investment, Salam International Investment, Ezdan, United Development Company and Mazaya Qatar; even as Woqod, Mesaieed Petrochemical Holding, Barwa and Nakilat were among the gainers.
Domestic institutions’ net buying weakened substantially to QR24.59mn compared to QR37.79mn the previous day.
Local retail investors’ net buying also declined considerably to QR23.62mn against QR31.07mn on Wednesday.
Non-Qatari individuals’ net buying shrank noticeably to QR0.13mn compared to QR2.05mn on August 14.
The Gulf institutions’ net buying decreased influentially to QR0.69mn against QR1.65mn the previous day.
The Gulf individuals turned net sellers to the tune of QR0.32mn compared with net buyers of QR0.71mn on Wednesday.
However, non-Qatari institutions’ net profit booking eased significantly to QR48.75mn against QR73.23mn on August 14.
Total trade volume increased 39%, value by 3% to QR215.53mn and transaction by 14% to 8,729.
The transport sector’s trade volume more than doubled to 4.36mn equities and value almost tripled to QR13.14mn on more than doubled deals to 475.
The telecom sector’s trade volume grew considerably to 3.7mn stocks, value by 5% to QR9.95mn and transactions by 7% to 738.
There was 54% surge in the consumer goods’ trade volume to 2.58mn shares and 70% in value to QR21.71mn but on 2% fall in deals to 335.
The banks and financial services’ trade volume soared 42% to 23.19mn equities, while value declined 15% to QR103.8mn despite 2% lower transactions at 2,574.
The industrials sector saw 27% expansion in trade volume to 12.57mn stocks, 19% in value to QR46.46mn and 19% in deals to 3,286.
The real estate sector’s trade volume shot up 28% to 11.41mn shares whereas value shrank 7% to QR12.68mn and transactions by 1% to 645.
The insurance sector reported 5% jump in trade volume to 3.08mn equities, 4% in value to QR7.78mn and 37% in deals to 676.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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