The Qatar Stock Exchange on Sunday opened the week weak to remain below 9,900 levels, mainly dragged by telecom, transport, real estate and banking sectors.
Local retail investors and Gulf funds turned bearish as the 20-stock Qatar Index settled 0.38% lower for the second consecutive day to 9,824.2 points, which is however up 15.26% year-to-date.
The buying interests of foreign institutions and Gulf individuals were seen weakening in the market, which saw Islamic equities decline slower than the other indices. Micro, large and small cap equities witnessed higher selling pressure.
Doha Bank sponsored exchange traded fund QETF reported 1.07% decline; while Masraf Al Rayan sponsored QATR was flat.
Trade turnover and volumes were on the decline on the bourse, where industrials, banking and real estate sectors together accounted for more than 82% of the total volume.
The Total Return Index shed 0.38% to 17,309.16 points, All Share Index by 0.51% to 2,895.18 points and Al Rayan Islamic Index (Price) by 0.24% to 2,341.39 points.
The telecom index shrank 0.86%, transport (0.76%), realty (0.71%), banks and financial services (0.6%), consumer goods (0.3%), industrials (0.19%) and insurance (0.13%).
Some 70% of the traded stocks were in the red with major losers being QNB, Alijarah Holding, Zaqd Holding, Mesaieed Petrochemical Holding, Ezdan, United Development Company, Ooredoo, Vodafone Qatar, Milaha, Mazaya Qatar and Nakilat.
The Gulf institutions turned net sellers to the tune of QR0.61mn compared with net buyers of QR67.89mn on October 11.
Local individual investors were also net sellers to the extent of QR1.39mn against net buyers of QR4.09mn last Thursday.
Non-Qatari institutions’ net buying weakened significantly to QR1.95mn compared to QR4.74mn the previous trading day.
The Gulf individual investors’ net buying declined perceptibly to QR0.09mn against QR0.49mn on October 11.
However, non-Qatari retail investors turned net buyers to the tune of QR4.27mn compared with net sellers of QR4.31mn last Thursday.
Domestic institutions’ net profit booking weakened influentially QR4.31mn against QR11.92mn the previous trading day.
Total trade volume fell 59% to 2.32mn shares, value by 60% to QR78.07mn and transactions by 46% to 1,709.
The telecom sector’s trade volume plummeted 92% to 0.08mn equities, value by 86% to QR1.81mn and deals by 78% to 68.
The transport sector reported 82% plunge in trade volume to 0.15mn stocks, 76% in value to QR3.91mn and 57% in transactions to 141.
The consumer goods sector’s trade volume tanked 65% to 0.09mn shares, value by 70% to QR7.75mn and deals by 56% to 133.
The market witnessed 57% shrinkage in the real estate sector’s trade volume to 0.53mn equities, 57% in value to QR11.16mn and 55% in transactions to 277.
The insurance sector’s trade volume shrank 56% to 0.08mn stocks, value by 47% to QR3.15mn and deals by 45% to 53.
The banks and financial services sector saw 56% contraction in trade volume to 0.64mn shares, 57% in value to QR30.09mn and 45% in transactions to 531.
However, the industrials sector’s trade volume was up 3% to 0.74mn equities, whereas value eased 49% QR20.21mn and deals by 13% to 506.
In the debt market, there was no trading of treasury bills and sovereign bonds.
