The Qatar Stock Exchange on Wednesday fell for the second straight session as its key index retreated below 11,700 points, mainly dragged by telecom and consumer goods.
The domestic funds were increasingly net sellers as the 20-stock Qatar Index declined 41 points or 0.35% to 11,665.71 points.
The Gulf individuals were seen net profit takers, albeit at lower levels, in the bourse, whose year-to-date gains were trimmed to 11.78%.
The Islamic index was seen declining slower than the main barometer in the market, whose capitalisation saw more than QR2bn or 0.32% decrease to QR673.37bn, mainly owing to midcap segments.
However, the Gulf institutions were increasingly net buyers in the bourse, where the industrials, banking and consumer goods sectors together constituted more than three-fourth of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where local retail investors were also increasingly net buyers.
The foreign institutions were seen increasingly into net buying in the market, which saw a total of 12,576 exchange traded funds (Masraf Al Rayan-sponsored QATR) valued at QR32,789 change hands across three deals.
The Total Return Index shrank 0.35% to 23,092.98 points, the All Share Index by 0.29% to 3,690.63 points and the Al Rayan Islamic Index (Price) by 0.35% to 2,627.51 points in the market, which saw no trading of sovereign bonds and treasury bills.
The telecom sector index tanked 1.65%, consumer goods and services (0.62%), industrials (0.38%), banks and financial services (0.23%) and real estate (0.09%); while transport and insurance gained 0.26% and 0.02% respectively.
More than 52% of the traded constituents in the main market were in the red with major losers being Ooredoo, Doha Insurance, Commercial Bank, Al Khaleej Takaful, Industries Qatar, Qamco, Doha Bank, Woqod, Baladna, Qatar Islamic Insurance, Mazaya Qatar and Gulf Warehousing.
Nevertheless, Investment Holding Group, Aamal Company, Salam International Investment, Masraf Al Rayan, Medicare Group, Qatar Industrial Manufacturing, Qatari Investors Group, Qatar Insurance and Nakilat were among the gainers in the main market.
The domestic funds’ net profit booking increased drastically to QR63.36mn compared to QR28.41mn on October 26.
The Gulf individuals turned net sellers to the tune of QR0.56mn against net buyers of QR0.52mn the previous day.
However, the Gulf institutions’ net buying shot up noticeably to QR30.97mn compared to QR20.74mn on Tuesday.
Local retail investors’ net buying strengthened markedly to QR24.27mn against QR14.42mn on October 26.
The foreign institutions’ net buying grew notably to QR8.79mn compared to QR3.09mn the previous day.
The Arab individuals were net buyers to the extent of QR1.83mn against net sellers QR7.8mn on Tuesday.
The foreign individuals’ net profit booking eased marginally to QR1.95mn compared to QR2.54mn on October 26.
The Arab institutions were seen net buyers to the tune of QR0.03mn against no major net exposure for 13 consecutive sessions.
Total trade volume in the main market rose 8% to 160.98mn shares and value by 15% to QR529.8mn, while transactions fell 5% to 11,355.
The transport sector’s trade volume more than doubled to 19.06mn equities and value also more than doubled to QR75.57mn on a 14% increase in deals to 807.
The market witnessed 24% surge in the insurance’s sector’s trade volume to 1.85mn stocks, 6% in value to QR5.88mn and 48% in transactions to 160.
The consumer goods and services sector’s trade volume soared 21% to 28.32mn shares, value by 16% to QR53.7mn and deals by 15% to 1,295.
The banks and financial services sector saw a 13% expansion in trade volume to 29.76mn equities and 25% in value to QR208.82mn but on a 4% dip in transactions to 4,990.
The telecom sector’s trade volume was up 6% to 4.81mn stocks and value by 18% to QR15.84mn; whereas deals shrank 13% to 490.
However, there was a 30% plunge in the real estate sector’s trade volume to 13.96mn shares, 34% in value to QR19.97mn and 18% in transactions to 706.
The industrials sector’s trade volume was down 4% to 63.22mn equities, value by 11% to QR150.01mn and deals by 13% to 2,907.