By Santhosh V. Perumal

Business Reporter

Qatar Stock Exchange weakened for the second day on Wednesday to settle below the 12,500 mark, mainly dragged by real estate and insurance stocks.

Profit booking was seen intense within the mid cap segments as the 20-stock Qatar Index (based on price data) fell another 0.43% to 12,471.96 points, amid marginal rise in volumes.

Domestic institutions turned bearish and their foreign counterparts reduced their net buying in the bourse, which is, however, up 1.52% year-to-date.

Local retail investors were, however, seen bullish in the market, where telecom, real estate and industrials stocks together cornered more than three-fourth of the total trading volume.

Market capitalisation shed 0.31% or more than QR2bn to QR676.76bn mainly on 0.86% fall in mid cap scrips; even as small and large caps gained 0.88% and 0.06% respectively.

The Total Return Index fell 0.43% to 18,852.81 points, All Share Index by 0.38% to 3,249.48 points and Al Rayan Islamic Index by 0.4% to 4,442.12 points.

Realty stocks plunged 2.71%, insurance (0.89%), transport (0.45%), telecom (0.28%), industrials (0.03%) and banks and financial services (0.01%); while industrials rose 0.48%.

Major shakers included Ezdan, Mazaya Qatar, Barwa, Vodafone Qatar, QNB, Doha Bank, Nakilat and Alijarah Holding; even as Commercial Bank, Qatar Islamic Bank, Qatari Investors Group and Gulf International Services bucked the trend.

Domestic institutions turned net sellers to the tune of QR40.98mn against net buyers of QR28.71mn the previous day.

Foreign institutions’ net buying weakened to QR20.03mn compared to QR55.27mn on February 24.

However, Qatari retail investors turned net buyers to the extent of QR19.55mn against net sellers of QR68.55mn on Tuesday.

Non-Qatari individual investors also turned net buyers to the tune of QR1.4mn compared with net profit takers of QR15.37mn the previous day.

Total trade volume was up 2% to 11.18mn shares, value by 27% to QR438.31mn and transactions by 2% to 5,574.

The consumer goods sector’s trade volume plummeted 76% to 0.23mn stocks, value by 79% to QR27.11mn and deals by 63% to 391.

The banks and financial services sector reported 30% plunge in trade volume to 1.95mn equities and 46% in value to QR129mn but on 11% rise in transactions to 1,325.

The telecom sector’s trade volume tanked 12% to 3.25mn shares, value by 15% to QR61.85mn and deals by 10% to 777.

The insurance sector’s trade volume was down 3% to 0.31mn stocks and value by 29% to QR13.13mn but transactions grew 2% to 166.

However, the industrials sector saw 82% surge in trade volume to 2.04mn equities, 61% in value to QR127.52mn and 2% in deals to 1,595.

There was 68% expansion in the real estate’s trade volume to 3.12mn shares, 32% in value to QR68.35mn and 65% in transactions to 1,194.

The transport sector’s trade volume shot up 33% to 0.28mn stocks and value by 2% to QR11.36mn, while deals shrank 14% to 126.

In the debt market, there was no trading of treasury bills and government bonds.