The Qatar Stock Exchange witnessed further declines on Tuesday on the back of selling pressure notably within the transport counter.
Increased net selling by Gulf funds and the bearish outlook of local retail investors drove the 20-stock Qatar Index down 0.26% to 10,271.86 points.
However, domestic funds turned bullish in the market, whose key benchmark was down 0.26% year-to-date.
Market capitalisation saw about QR1bn, or 0.17%, decline to QR571.2bn mainly owing to mid and microcap segments.
Islamic equities were seen declining slower than the other indices in the market, where non-Qatari and Gulf individuals were seen net buyers but with lesser intensity.
Trade turnover grew amidst lower volumes in the bourse, where the industrials, banking and realty sectors together accounted for more than 77% of the total volume.
The Total Return Index shed 0.26% to 18,901.09 points, the All Share Index by 0.23% to 3,032.57 points and the Al Rayan Islamic Index (Price) by 0.17% to 2,322.73 points.
The transport index shrank 1.97%, banks and financial services (0.27%) and industrials (0.1%); while real estate gained 0.35%, telecom (0.21%), insurance (0.19%) and consumer goods (0.07%).
Major losers included Milaha, Nakilat, Qatar Islamic Bank, Doha Bank, Qatar Oman Investment, Qatar Industrial Manufacturing, Qatar National Cement, Ezdan and Mazaya Qatar; even as Commercial Bank, Aamal Company, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, United Development Company, Barwa and Ooredoo were among the gainers.
Gulf institutions’ net profit booking increased influentially to QR13.01mn against QR10.78mn on October 7.
Local retail investors turned net sellers to the tune of QR9.58mn compared with net buyers of QR6.12mn on Monday.
Non-Qatari institutions’ net buying declined considerably to QR0.4mn against QR4.39mn the previous day.
Non-Qatari individuals’ net buying weakened noticeably to QR1.43mn compared to QR2.41mn on October 7.
Gulf individual investors’ net buying shrank marginally to QR0.76mn against QR0.86mn on Monday.
However, domestic funds were net buyers to the extent of QR20.01mn compared with net sellers of QR2.99mn the previous day.
Total trade volume fell 6% to 53.42mn shares, while value rose 27% to QR190.8mn and transactions by 3% to 5,533.
The insurance sector reported a 55% plunge in trade volume to 1.11mn equities, 38% in value to QR4.68mn and 48% in deals to 190.
The consumer goods sector’s trade volume plummeted 45% to 5.81mn stocks, value by 1% to QR18.64mn and transactions by 3% to 667.
There was a 9% shrinkage in the industrials sector’s trade volume to 17.83mn shares, 4% in value to QR32.48mn and 7% in deals to 1,458.
The banks and financial services sector’s trade volume was down 6% to 12.83mn equities, whereas value increased 47% to QR100.44mn and transactions by 17% to 1,702.
However, the transport sector’s trade volume more than tripled to 3.03mn stocks and value also more than tripled to QR10.1mn on doubled-deals to 231.
The real estate sector reported a 42% surge in trade volume to 10.62mn shares, 60% in value to QR11.66mn and 20% in transactions to 464.
The telecom sector’s trade volume grew 14% to 2.2mn equities, 5% in value to QR12.8mn and deals by 1% to 821.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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