The Qatar Stock Exchange Monday witnessed Islamic equities defy the overall bearish trend that has been continuing for the third straight session and its key index settled below 10.700 levels.
Local retail investors continued to be net sellers but with lesser intensity as the 20-stock Qatar Index settled 35 points or 0.33% lower at 10,671.57 points, having touched an intraday high of 10,730 points.
Both Gulf individuals and domestic institutions were net buyers on the bourse, which is up 2.26% year-to-date.
The transport, telecom, real estate and banking counters witnessed higher than average selling in the market, whose capitalisation saw more than QR2bn or 0.37% decline to QR618.67bn, mainly on microcap segments.
More than 59% of the traded constituents were in the red on the bourse, which saw foreign individuals turned net sellers.
Trade turnover grew amidst lower volumes in the market, where the Arab funds were seen marginally bullish.
The Gulf institutions continued to net buyers but with lesser intensity on the bourse, where the consumer goods, banks and industrials sectors accounted for about 67% of the total trading volume.
A total of 18,500 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR44,796 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 0.33% to 20,515.74 points and All Share Index by 0.34% to 3,268.03 points; while Al Rayan Islamic Index (Price) rose 0.35% to 2,428.44 points.
The transport index tanked 1.38%, telecom (0.87%), realty (0.47%), banks and financial services (0.36%) and industrials (0.08%); whereas insurance gained 0.15% and consumer goods and services (0.07%).
About 59% of the traded constituents were in the red with major losers being Inma Holding, Dlala, Nakilat, Commercial Bank, Mazaya Qatar, QNB, Zad Holding, Qatar Industrial Manufacturing, Qatari Investors Group, Gulf International Services and Ooredoo.
Nevertheless, Al Khaleej Takaful, Qatari German Medical Devices, Baladna, Vodafone Qatar, Gulf Warehousing, QIIB, Masraf Al Rayan and QLM were among the gainers.
The foreign institutions turned net sellers to the tune of QR2.25mn against net buyers of QR14.71mn on January 24.
The Arab individuals were net sellers to the extent of QR1.84mn compared with net buyers of QR4.18mn the previous day.
The foreign individuals turned net sellers to the tune of QR0.51mn against net buyers of QR0.31mn on Sunday.
The Gulf institutions’ net buying eased marginally to QR8.53mn compared to QR9.9mn on January 24.
However, Qatari retail investors’ net selling fell considerably to QR6.13mn against QR27.58mn the previous day.
The Gulf individuals turned net buyers to the extent of QR1.74mn compared with net sellers of QR0.72mn on Sunday.
The domestic funds turned net buyers to the tune of QR0.31mn against net sellers of QR0.67mn on January 24.
The Arab funds were seen net buyers to the extent of QR0.18mn compared with no major exposure the previous day.
Total trade volume fell 16% to 166.05mn shares, while value rose 14% to QR511.06mn and transactions by 38% to 11,268.
The realty sector’s trade volume plummeted 66% to 22.05mn equities, value by 64% to QR35.49mn and deals by 48% to 935.
The banks and financial services sector saw 29% shrinkage in trade volume to 39.09mn stocks but on 11% jump in value to QR219.33mn and 49% in transactions to 4,688.
The industrials sector’s trade volume shrank 4% to 31.4mn shares, while value shot up 35% to QR63.06mn and deals by 23% to 1,418.
However, the transport sector’s trade volume more than quadrupled to 6.61mn equities and value more than tripled to QR30.43mn on more than tripled transactions to 541.
The insurance sector’s trade volume more than doubled to 20.71mn stocks and value also more than doubled to QR52.02mn on almost tripled deals to 936.
The telecom sector’s trade volume surged 68% to 6.14mn shares and value more than doubled to QR19.9mn on almost six-fold growth in transactions to 936.
There was 32% surge in the consumer goods and services sector’s trade volume to 40.06mn equities, 32% in value to QR90.82mn and 33% in deals to 1,814.