The Qatar Stock Exchange on Sunday opened the week on a stronger note to show signs of breaking the 11,000 resistance level, but overall it settled 53 points lower.
The robust buying interests of the Gulf funds notwithstanding, the 20-stock Qatar Index settled 0.49% lower at 10,860.72 points, although it touched an intraday high of 10,965 points.
The Gulf individuals were seen marginally bullish and there was substantially weakened net selling by their Qatar counterparts in the market, whose year-to-date gains were at 4.07%.
The insurance, transport and industrials counters witnessed higher than average selling pressure in the bourse, whose capitalisation saw more than QR3bn, or 0.55%, decline to QR624.74bn mainly dragged by midcap and microcap segments.
Trade turnover and volumes were on the decline in the market, where the Islamic equities were seen declining slower than the other indices.
Nevertheless, domestic funds were increasingly net sellers and there were also lower buying interests from the Gulf individuals in the bourse, where the banking, industrials and realty sectors together accounted for more than 78% of the total trading volume.
A total of 175,873 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR434,97 changed hands across 20 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.49% to 20,879.37 points, the Al Rayan Islamic Index (Price) by 0.26% to 2,459.11 points and the All Share Index by 0.52% to 3,323.71 points.
The insurance index tanked 2.55%, transport (1.44%), industrials (0.65%), banks and financial services (0.34%), realty (0.25%) and consumer goods and services (0.23%); while telecom was up 0.05%.
More than 57% of the traded constituents were in the red with major losers being Qatar General Insurance and Reinsurance, Milaha, Qatar Insurance, Nakilat, Ezdan, Commercial Bank, QNB, Baladna, Qatar National Cement, Industries Qatar, Aamal Company, Gulf International Services and Mesaieed Petrochemical Holding; even as Dlala, Ahlibank Qatar, Al Khaleej Takaful, Qatar Industrial Manufacturing, Inma Holding and Ooredoo were among the gainers.
The foreign funds’ net buying decreased substantially to QR4.24mn against QR96.38mn on January 14.
The domestic funds’ net selling increased notably to QR15.63mn compared to QR10.77mn last Thursday.
The foreign individuals’ net buying weakened markedly to QR2.34mn against QR5.25mn the previous trading day.
However, the Gulf funds turned net buyers to the tune of QR23.13mn compared with net sellers of QR5.69mn on January 14.
The Gulf individuals were also net buyers to the extent of QR1.43mn against net sellers of QR0.44mn last Thursday.
Local retail investors’ net selling eased significantly to QR15.12mn compared to QR77.36mn the previous trading day.
The Arab individuals’ net profit booking decreased perceptibly to QR0.37mn against QR7.27mn on January 14.
The Arab institutions had no major exposure compared with net sellers of QR0.03mn last Thursday.
Total trade volume fell 56% to 95.44mn shares, value by 55% to QR246.59mn and transactions by 47% to 5,261.
The market witnessed an 85% plunge in the telecom sector’s trade volume to 1.68mn equities, 71% in value to QR7.56mn and 48% in deals to 292.
The consumer goods and services sector’s trade volume plummeted 74% to 9.11mn stocks, value by 56% to QR20.3mn and transactions by 40% to 473.
There was a 63% contraction in the insurance sector’s trade volume to 6.39mn shares, 67% in value to QR19.8mn and 61% in deals to 513.
The realty sector’s trade volume tanked 54% to 20.68mn equities, value by 55% to QR31.36mn and transactions by 46% to 860.
The banks and financial services sector saw a 50% contraction in trade volume to 28.4mn stocks, 62% in value to QR86.94mn and 53% in deals to 1,603.
The industrials sector’s trade volume shrank 48% to 25.62mn shares, value by 37% to QR62.93mn and transactions by 28% at 1,350.
The transport sector reported a 19% shrinkage in trade volume to 3.56mn equities but on 2% jump in value to QR17.71mn despite 61% lower deals at 170.