By Santhosh V Perumal/Business Reporter
The Qatar Stock Exchange yesterday witnessed profit booking pressure, especially at the banking, consumer goods and telecom counters, leading its key barometer to settle below the 10,300 levels.
Foreign funds and foreign individuals were seen bearish as the 20-stock Qatar Index settled more than 68 points, or 0.66%, lower at 10,261.19 points, although it touched an intraday high of 10,358 points.
Domestic institutions’ increased net selling also had its role in dampening the market, whose year-to-date losses were at 1.58%.
Market capitalisation saw more than QR3bn, or 0.57%, decline to QR591.73bn, mainly owing to small and microcap segments.
A total of 79,475 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR227,755 changed hands across 15 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the increase in the bourse, where the realty and industrials sectors together accounted for more than 60% of the total trading volume.
The Total Return Index fell 0.66% to 19,726.81 points, the All Share Index by 0.79% to 3,159.27 points and the Al Rayan Islamic Index (Price) by 0.36% to 2,329.54 points.
The banks and financial services sector index shrank 1.7%, consumer goods and services (0.83%) and telecom (0.81%); whereas transport gained 1.76%, realty (1.07%), insurance (0.38%) and industrials (0.36%).
Major losers included Qatar Islamic Bank, QNB, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Woqod, Dlala, Qatar Industrial Manufacturing and United Development Company; even as Qatar General Insurance and Reinsurance, Nakilat, Ezdan, Industries Qatar, Alijarah Holding, Qatar Oman Investment, Qatari Investors Group and Qatar Islamic Insurance were among the gainers.
Domestic institutions’ net profit booking rose considerably to QR19.01mn compared to QR3.75mn on November 23.
Foreign individuals turned net sellers to the tune of QR3.01mn against net buyers of QR7.75mn the previous day.
Foreign funds were also net sellers to the extent of QR0.41mn compared with net buyers of QR56.08mn on Sunday.
However, Qataris turned net buyers to the tune of QR10.45mn against net sellers of QR50.93mn on November 23.
Gulf institutions’ net buying grew significantly to QR6.61mn compared to QR1.45mn the previous day.
Arab individuals were net buyers to the tune of QR4.25mn against net profit takers of QR7.9mn on Sunday.
Gulf individuals turned net buyers to the extent of QR1.12mn compared with net sellers of QR2.8mn on November 23.
Arab institutions continued to have no major exposure.
Total trade volumes rose 32% to 314.02mn shares, value by 18% to QR590.24mn and transactions by 5% to 13,047.
The banks and financial services sector saw a 55% surge in trade volume to 48.46mn equities and 5% in value to QR149.08mn but on 8% decline in deals to 3,068.
The telecom sector’s trade volume soared 47% to 4.74mn stocks, while value declined 14% to QR12.49mn and transactions by 29% to 469.
There was a 44% expansion in the real estate sector’s trade volume to 104.98mn shares, 61% in value to QR169.57mn and 43% in deals to 3,386.
The industrials sector’s trade volume shot up 29% to 84.26mn equities, value by 15% to QR91.02mn and transactions by 6% to 2,328.
The consumer goods and services sector reported a 22% jump in trade volume to 39.1mn stocks, 26% in value to QR57.36mn and 21% in deals to 1,398.
The insurance sector’s trade volume was up 21% to 3.55mn shares, value by 52% to QR9.11mn and transactions by 28% to 178.
However, the market witnessed a 6% decline in the transport sector’s trade volume to 28.93mn equities, 6% in value to QR101.61mn and 14% in deals to 2,220.
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