The transport, banking and consumer goods counters on Tuesday witnessed higher than average demand on the Qatar Stock Exchange, which however continued to be in the negative terrain.
The bullish outlook of the foreign individuals notwithstanding, the 20-stock Qatar Index settled about 11 points or 0.1% lower at 10,668.4 points, recovering from an intraday low of 10,629 points.
The local retail investors’ net selling pressure was seen considerably weakening in the market, whose year-to-date gains stood at 2.23%.
More than 71% of the traded constituents were in the red in the bourse, whose capitalisation saw more than QR1bn or 0.17% decrease to QR618.31bn, mainly owing to microcap segments.
The telecom, real estate and industrials counters witnessed higher than average selling pressure in the market, which saw the industrials and consumer goods and services sectors together constitute about 55% of the total trading volume.
The overall trade turnover and volumes were on the decline in the bourse, where the Arab individuals were increasingly net profit takers.
The Islamic index was seen declining faster than the other indices in the market, which saw a total of 84,113 exchange traded funds (Masraf Al Rayan-sponsored QATR) valued at QR202,978 change hands across 13 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.1% to 21,118.74 points, the All Share Index by 0.07% to 3,389.46 points and the Al Rayan Islamic Index (Price) by 0.33% to 2,440.65 points.
The telecom index declined 1.17%, real estate (0.9%), industrials (0.57%) and insurance (0.25%); while transport gained 0.65%, banks and financial services (0.16%) and consumer goods and services (0.14%).
Major losers included Mannai Corporation, Alijarah Holding, Qatar National Cement, Ooredoo, Dlala, QIIB, Qatar First Bank, Qatar Oman Investment, Qatari German Medical Devices, Salam International Investment, Baladna, Qatari Investors Group, Qatar Electricity and Water, Qamco, Gulf International Services, Barwa and Mazaya Qatar.
Nevertheless, Milaha, Qatar Islamic Bank, Al Khaleej Takaful, Doha Bank, Woqod, QNB and QLM were among the gainers.
The Gulf institutions’ net buying weakened substantially to QR0.15mn compared to QR22.74mn on July 26.
The Arab individuals’ net profit booking increased marginally to QR2.9mn compared to QR2.09mn on Monday.
The Gulf individuals turned net sellers to the tune of QR0.36mn against net buyers of QR1.32mn the previous day.
Domestic institutions’ net buying declined markedly to QR4.28mn compared to QR6.05mn on July 26.
Foreign institutions’ net buying shrank noticeably to QR0.44mn against QR5.94mn on Monday.
However, foreigners were net buyers to the extent of QR1.55mn compared with net sellers of QR0.18mn the previous days.
Qatari individuals’ net selling decreased significantly to QR3.17mn against QR33.25mn on July 26.
The Arab institutions continued to have no major net exposure for the fifth straight session.
Total trade volume fell 25% to 84.18mn shares, value by 33% to QR230.99mn and transactions by 5% to 9,325.
The insurance’s trade volume plummeted 74% to 2.26mn equities, value by 72% to QR6.21mn and deals by 38% to 266.
The banks and financial services sector saw a 45% plunge in trade volume to 14.91mn stocks, 52% in value to QR84.7mn and 26% in transactions to 3,355.
The transport sector’s trade volume tanked 31% to 4.27mn shares and value by 20% to QR16.26mn, while deals grew 22% to 794.
The market witnessed a 24% shrinkage in the consumer goods and services sector’s trade volume to 17.45mn equities, 25% in value to QR27.42mn and 3% in transactions to 842.
The industrials sector’s trade volume tanked 18% to 28.52mn stocks, value by 18% to QR52.63mn and deals by 13% to 1,670.
However, there was an 85% surge in the telecom sector’s trade volume to 4.34mn shares almost tripling value to QR24.23mn on more than doubled transactions to 1,729.
The real estate sector’s trade volume was up 5% to 12.42mn equities, value by 14% to QR19.53mn and deals by less than 1% to 669.