The Qatar Stock Exchange on Tuesday largely remained flat despite strong selling pressure from foreign and Gulf institutions.
Telecom, industrials and transport counters witnessed higher than average profit booking as the 20-stock Qatar Index settled mere 0.01% lower for the third straight session at 10,220.72 points.
The market had touched a high of more than 10,260 points in the first one-and-a-half hours but only to see weakening subsequently and thus settle a mere more than one point lower.
Domestic institutions were increasingly net buyers and local retail investors turned bullish on the market, whose key benchmark is down 0.76% year-to-date.
Market capitalisation saw about QR2bn or 0.3% decline to QR564.54bn mainly owing to microcap segments.
Islamic equities were seen declining faster than the other indices on the market, where the Gulf individuals continued to be net profit takers but with lesser intensity.
Trade turnover and volumes were on the increase on the bourse, where real estate and industrials sectors together accounted for more than 63% of the total volume.
The Total Return Index was down 0.01% to 18,806.99 points, All Share Index by 0.13% to 3,017.61 points and Al Rayan Islamic Index (Price) by 0.14% to 2,291.29 points.
The telecom index shrank 0.42%, industrials (0.39%), transport (0.21%), banks and financial services (0.13%) and insurance (0.08%); while realty and consumer goods gained 0.68% and 0.22% respectively.
Major losers included Alijarah Holding, Dlala, Qatar Oman Investment, Qatari German Company for Medical Devices, Medicare Group, Mannai Corporation, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Ooredoo and Nakilat; even as Ezdan, Qatar First Bank, Al Khaliji, Qatar Islamic Bank, Doha Bank, Commercial Bank and Al Khaleej Takaful were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR43.79mn compared with net buyers of QR4.34mn on October 26.
The Gulf institutions’ net profit booking increased significantly to QR20.44mn against QR11.49mn the previous day.
Non-Qatari individuals’ net buying declined marginally to QR0.24mn compared to QR0.41mn on Monday.
However, domestic institutions’ net buying expanded influentially to QR57.74mn against QR16.8mn on October 26.
Local retail investors turned net buyers to the extent of QR12.12mn compared with net sellers of QR3.23mn the previous day.
The Gulf individuals’ net profit booking weakened perceptibly to QR5.84mn against QR6.8mn on Monday.
Total trade volume rose 37% to 77.93mn shares, value by 32% to QR236.33mn and transactions by 13% to 4,936.
The transport sector’s trade volume almost quadrupled to 3.74mn equities and value more than tripled to QR9.94mn on 86% increase in deals to 248.
The telecom sector’s trade volume almost tripled to 5.47mn stocks and value more than tripled to QR16.06mn on more than tripled transactions to 726.
The real estate sector’s trade volume more than doubled to 26.33mn shares and value almost doubled to QR24.03mn on 67% jump in deals to 619.
There was 83% surge in the industrials sector’s trade volume to 22.82mn equities, 88% in value to QR51.75mn and 31% in transactions to 1,302.
However, the consumer goods sector’s trade volume plummeted 81% to 2.35mn stocks, value by 52% to QR17.75mn and deals by 51% to 567.
The insurance sector saw 42% plunge in trade volume to 2.1mn shares and 30% in value to QR5.93mn but on 12% growth in transactions to 262.
The banks and financial services sector’s trade volume was down less than 1% to 15.12mn equities, whereas value shot up 29% to QR110.87mn despite 7% lower deals at 1,212.
In the debt market, there was no trading of treasury bills and sovereign bonds.