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By Santhosh V. Perumal
Business Reporter
Qatar Stock Exchange was back in the red on Tuesday with its key index losing about 100 points, mainly dragged by real estate and banking stocks.
Profit booking by local retail investors and weakened buying from foreign institutions resulted in the 20-stock Qatar Index (based on price data) lose 0.77% to 12,756.98 points amid marginal dip in volumes.
Mid and large cap equities were seen experiencing the maximum selling pressure in the bourse, which is, however, up 22.9% year-to-date.
Overall, trading was skewed towards realty, banks and telecom, which together accounted for more than 81% of the total volume.
The Total Return Index shed 0.77% to 19,026.82 points, All Share Index by 0.57% to 3,257.37 points and Al Rayan Islamic Index by 0.58% to 4,303.77 points.
Market capitalisation eroded 0.7% or about QR5bn to QR698.56bn with mid, large and micro caps melting 0.78%, 0.68% and 0.42% respectively; even as small caps rose 0.36%.
Real estate stocks fell 0.78%, banks and financial services (0.63%), transport (0.55%), consumer goods (0.52%), industrials (0.51%) and telecom (0.37%); while insurance was up 0.02%.
Major losers being QNB, Industries Qatar, Gulf International Services, Ezdan, Barwa, Vodafone Qatar, Doha Bank, Widam Food, Al Meera, United Development Company and Milaha.
However, Qatar Islamic Bank, Commercial Bank, Islamic Holding Group, Mannai Corporation and Gulf Warehousing were seen bucking the trend.
Qatari retail investors turned net sellers to the tune of QR17.34mn against net buyers of QR76.88mn the previous day.
Foreign institutions’ net buying sunk to QR13.04mn compared to QR33.49mn on Monday.
Domestic institutions’ net selling plummeted to QR8.6mn against QR101.16mn on December 1.
Non-Qatari individual investors turned net buyers to the extent of QR12.9mn compared with net profit takers of QR9.29mn the previous day.
Total trade volume was down 6% to 12.8mn shares, value by 8% to QR716.49mn and transactions by 1% to 7,318.
The telecom sector’s trade volume plummet 33% to 1.03mn equities, value by 44% to QR20.76mn and deals by 26% to 432.
The industrials sector saw its trade volume plunge 27% to 1.08mn stocks, value by 32% to QR101.56mn and transactions by 3% to 1,437.
The consumer goods sector’s trade volume tanked 20% to 0.55mn shares, while value was up 7% to QR72.31mn. Deals were down 3% to 681.
The real estate sector’s trade volume was down 5% to 5.44mn equities; while value rose 4% to QR177.12mn and transactions by 2% to 1,883.
However, the insurance sector’s trade volume vaulted 67% to 0.1mn stocks, value more than doubled to QR7.87mn and deals almost doubled to 205.
The transport sector’s trade volume expanded 51% to 0.68mn shares, value more than doubled to QR37.43mn and transactions surged 54% to 490.
The banks and financial services sector reported 5% rise in trade volume to 3.91mn equities, even as there was 10% decline in value to QR2993.43mn and 7% in deals to 2,190.
In the debt market, there was no trading of treasury bills and government bonds.
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