Profit booking pressure, especially within the telecom and banking counters, on Thursday dragged Qatar Stock Exchange below 10,300 levels.
Foreign institutions were net sellers as the 20-stock index settled 0.67%, or 69 points, lower at 10,267.27 points.
The Gulf institutions’ weakened net buying also had its influence in driving the market down, whose key benchmark is down 0.31% year-to-date.
Market capitalisation saw more than QR3bn, or 0.59%, decline to QR566.76bn mainly owing to small and microcap segments.
Islamic equities were seen declining slower than the other indices in the market, where local retail investors and domestic institutions turned net buyers.
Trade turnover and volumes were on the decline in the bourse, where the banking and industrials sectors together accounted for more than 68% of the total volume.
The Total Return Index declined 0.67% to 18,892.64 points, the All Share Index by 0.63% to 3,029.37 points and the Al Rayan Islamic Index (Price) by 0.62% to 2,308.43 points.
The telecom index declined 1.03%, banks and financial services (0.85%), realty (0.65%), insurance (0.44%) and industrials (0.43%); while transport and consumer goods declined 0.07% and 0.02% respectively.
More than 63% of the traded constituents were in the red with major losers being Ooredoo, Qatar Islamic Bank, Masraf Al Rayan, Islamic Holding Group, QNB, Doha Bank, Qatari German Company for Medical Devices, Medicare Group, Qatari Investors Group, Gulf International Services, Al Khaleej Takaful, United Development Company and Ezdan; even as Nakilat, Widam and Alijarah Holding were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR29.3mn against net buyers of QR8.16mn on Wednesday.
The Gulf institutions’ net buying declined significantly to QR1.31mn compared to QR15.16mn on November 20.
The Gulf individual investors’ net selling grew marginally to QR0.55mn against QR0.21mn the previous day.
However, local retail investors were net buyers to the extent of QR11.27mn compared with net sellers of QR5.19mn on Wednesday.
Non-Qatari individuals turned net buyers to the tune of QR9.44mn against net profit takers of QR1.39mn on November 20.
Domestic funds were also net buyers to the extent of QR7.84mn compared with net sellers of QR16.53mn the previous day.
Total trade volume fell 7% to 47.89mn shares and value by 3% to QR229.1mn, while transactions were up 10% to 5,484.
The real estate sector’s trade volume plummeted 42% to 5.25mn equities and value by 10% to QR8.12mn, while deals jumped 10% to 307.
The banks and financial services sector saw a 21% plunge in trade volume to 18.97mn stocks, 12% in value to QR143.29mn and 5% in transactions to 2,562.
However, the insurance sector’s trade volume more than tripled to 2.7mn shares and value also more than tripled to QR6.51mn on a 77% jump in deals to 186.
There was a 79% surge in the consumer goods sector’s trade volume to 2.87mn equities, 49% in value to QR29.32mn and 76% in transactions to 700.
The transport sector’s trade volume shot up 35% to 1.83mn stocks, value by 26% to QR6.18mn and deals by 7% to 142.
The market witnessed a 10% expansion in the telecom sector’s trade volume to 2.54mn shares, 9% in value to QR10.29mn and 45% in transactions to 539.
The industrials’ sector’s trade volume grew 9% to 13.73mn equities, while value lost 8% to QR25.4mn despite 8% higher deals at 1,048.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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