The Qatar Stock Exchange was back in the negative turf to settle below 9,100 levels despite buying interests in banking, industrials and telecom counters.
Lower net buying by foreign funds and Gulf individuals was largely instrumental in dragging the 20-stock Qatar Index 0.25% higher at 9,096.36 points.
Islamic stocks were seen declining slower than the main index in the market, which is however up 6.72% year-to-date.
Capitalisation declined 0.34% to QR487.36bn as selling pressure was squarely within small and large cap segments.
Trade turnover and volumes were on the decline in the bourse, where the banking and real estate sectors together accounted for about 77% of the total volume.
The Al Rayan Islamic Index was down 0.07% to 3,678.34 points, while the Total Return Index gained 0.24% to 15,432.84 points and the All Share Index by 0.07% to 2,553.77 points.
The insurance index shrank 1.26%, followed by transport (0.38%) and consumer goods (0.07%); whereas industrials gained 0.26%, banks and financial services (0.25%) and telecom (0.21%). The realty index was rather unchanged.
About 56% of the stocks were in the red with major losers being Qatar Islamic Bank, QNB, Al Khaleej Takaful, Qatar General and Reinsurance, Qatari Investors Group, Industries Qatar, Mazaya Qatar, United Development Company, Barwa and Gulf Warehousing.
Nevertheless, Commercial Bank, Al Khaliji, Qatar First Bank, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Ezdan, Ooredoo and Vodafone Qatar were among the gainers.
Domestic funds’ net profit-booking increased marginally to QR2.22mn compared to QR1.54mn the previous day.
Non-Qatari institutions’ net buying weakened substantially to QR2.13mn against QR14.36mn on February 21.
The Gulf individual investors’ net buying also declined perceptibly to QR1.04mn compared to QR2.5mn on Wednesday.
However, the Gulf funds turned net buyers to the tune of QR3.08mn against net sellers of QR1.02mn the previous day.
Non-Qatari individuals’ net selling declined considerably to QR1.82mn compared to QR9.11mn on February 21.
Local individuals’ net profit booking also weakened considerably to QR2.21mn against QR5.18mn on Wednesday.
Total trade volume fell 18% to 5.69mn shares, value by 19% to QR135.54mn and transactions by 15% to 2,270.
The transport sector reported 60% plunge in trade volume to 0.06mn equities, 67% in value to QR1.83mn and 41% in deals to 71.
The telecom sector’s trade volume plummeted 52% to 0.12mn stocks, value by 48% to QR4.94mn and transactions by 25% to 117.
There was 29% shrinkage in the consumer goods sector’s trade volume to 0.15mn shares and 28% in value to QR10.66mn but on 10% jump in deals to 154.
The real estate sector’s trade volume tanked 20% to 1.05mn equities, value by 15% to QR18.3mn and transactions by 30% to 434.
The banks and financial services sector saw 18% slump in trade volume to 3.33mn stocks, 26% in value to QR67.48mn and 17% in deals to 919.
However, the insurance sector’s trade volume soared 50% to 0.09mn shares, value by 31% QR3.52mn and transactions by 45% to 68.
The market witnessed 1% rise in the industrials sector’s trade volume to 0.88mn equities, 28% in value to QR28.81mn and 6% in deals to 507.
In the debt market, there was no trading of treasury bills and sovereign bonds.
