An across the board selling – particularly in the telecom, industrials and insurance counters – on Tuesday dragged the Qatar Stock Exchange more than 59 points but overall it settled a tad above 10,500 levels.
The foreign and the Gulf institutions were seen net profit takers as the 20-stock Qatar Index settled 0.56% lower at 10,500.09 points, although it touched an intraday high of 10.563 points.
The Arab and foreign individuals were also net sellers in the market, whose year-to-date losses were at 1.28%.
Trade turnover and volumes were on the decline in the bourse, where the industrials and banking sectors together accounted for about 56% of the total trading volume.
Islamic equities were seen declining slower than the other indices in the market, whose capitalisation saw about QR3bn or 0.43% decrease to QR606.55bn, mainly on midcap segments.
A total of 21,826 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR171,626 changed hands across four deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.56% to 20,186.07 points, Al Rayan Islamic Index (Price) by 0.36% to 2,403.43 points and All Share Index by 0.52% to 3,217.79 points.
The telecom index tanked 1.01%, industrials (0.87%), insurance (0.8%), banks and financial services (0.43%), transport (0.32%), consumer goods and services (0.27%) and real estate (0.18%).
More than 73% of the traded constituents were in the red with major losers being Qatari Investors Group, Qatar Oman Investment, Qatar Insurance, Inma Holding, Mannai Corporation, Qatar Electricity and Water, Salam International Investment, Industries Qatar, Ooredoo and Mesaieed Petrochemical Holding; even as Ahlibank Qatar, Widam Food, Qatar Islamic Insurance, Baladna and Al Meera were among the gainers.
The foreign funds turned net sellers to the tune of QR23.57mn compared with net buyers of QR33.01mn on December 28.
The Gulf funds were also net sellers to the extent of QR4.89mn against net buyers of QR8.63mn the previous day.
The Arab individuals turned net profit takers to the extent of QR2.04mn compared with net buyers of QR4.1mn on Monday.
The foreign individuals were net sellers to the tune of QR0.52mn against net buyers of QR0.15mn on December 28.
However, Qataris turned net buyers to the extent of QR18.99mn compared with net sellers of QR3.42mn the previous day.
The domestic institutions were also net buyers to the tune of QR12.58mn against net sellers of QR46.98mn on Tuesday.
The Gulf individuals’ net profit booking eased marginally to QR0.52mn compared to QR0.55mn on December 28.
The Arab institutions had no major exposure against net buyers to the extent of QR4.16mn the previous day.
Total trade volumes fell 43% to 101.71mn shares and value by 16% to QR258.76mn, while transactions were up 8% to 5,753.
The consumer goods and services sector’s trade volume plummeted 75% to 15mn equities, value by 52% to QR27.89mn and deals by 27% to 807.
There was 56% plunge in the industrials sector’s trade volume to 21.7mn stocks, 8% in value to QR40.95mn and 5% in transactions to 1,154.
The banks and financial services sector’s trade volume tanked 33% to 35.05mn shares and value by 18% to QR129.71mn; whereas deals gained 23% to 1,888.
However, the telecom sector’s trade volume almost tripled to 6.2mn equities, value soared 39% to QR21.23mn and transactions by 77% to 873.
The transport sector saw 59% surge in trade volume to 2.81mn stocks and 55% in value to QR12.65mn on more than doubled deals to 382.
The insurance sector’s trade volume shot up 52% to 1.55mn shares, value by 62% to QR3.44mn and transactions by 18% to 113.
The market witnessed 1% jump in the real estate sector’s trade volume to 13.4mn equities and 1% in value to QR22.88mn but on 24% decline in deals to 536.