By Santhosh V. Perumal/Business Reporter

Foreign institutions’ increased net selling pressure largely eclipsed the strong buying interests of their foreign counterparts that the Qatar Stock Exchange reported 43 points decline in its key index during the week.
More than 71% of the traded stocks were in the red during the week which saw Al Khalij Cement, a part of Qatari Investors Group, announce the second line of production to make it the largest Portland cement producer in Qatar.
Consumer goods, real estate and transport counters witnessed higher than average selling pressure during the week which saw Aamal Company obtain all necessary approvals to start the Phase II of City Center Doha redevelopment.
Qatari retail investors’ net buying support were seen weakening and non-Qatari individual investors turned bearish during the week which saw the transport, industrials and banking sectors together constitute more than 77% of the overall trading volume.
The 20-stock Qatar Index fell 0.41% during the week which witnessed Commercial Bank deny reports that it was attempting to sell its 40% stake in its UAE-based associate bank, United Arab Bank.
The 20-stock Total Return Index shed 0.41%, All Share Index (comprising wider constituents) by 0.66% and Al Rayan Islamic Index by 1.63% during the week which saw four of the seven sectors in the red.
Consumer goods stocks plunged 3.07%, realty (2.49%), transport (2.08%) and banks and financial services (0.43%); whereas insurance gained 0.9%, industrials (0.77%) and telecom (0.76%) during the week, which witnessed more than doubling of overall trade volumes.
Of the 43 stocks, as many as 30 declined, while only 10 advanced and two were unchanged. Another one was not traded during the week.
Seven each of the 12 banks and financial services and the eight consumer goods, five of the nine industrials, four each of the five insurers and the four real estate, two of the three transport and one of the two telecom stocks closed the week lower.
Major losers included Commercial Bank, al khaliji, Masraf Al Rayan, Islamic Holding Group, Qatari German Company for Medical Devices, Qatari Investors Group, Mesiaeed Petrochemical Holding, United Development Company, Ezdan, Barwa, Vodafone Qatar and Nakilat during the week.
However, QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, Doha Bank, Gulf International Services and Qatar Insurance were seen bucking the trend during the week.
Opening the week rather stronger, the market plummeted to below 10,100 levels on reports that global index compiler MSCI revising its constituents with many overseas listed Chinese companies finding place in emerging markets and also that investors were concerned on the macroeconomics of Qatar, which has already hinted at fiscal austerity measures.
However, on the subsequent day, the market witnessed exemplary resiliency to bounce back and its key index vaulted to 10,535 points, after which it gained a little but only to see some profit booking on the last day and thus the index settled at 10,475 points.
Market capitalisation was down 0.42% or more than QR2bn to QR550.62bn.
Foreign institutions’ net selling shot up to QR275.82mn compared to QR115.92mn the previous week.
Non-Qatari retail investors turned net profit takers to the extent of QR7.54mn against net buyers of QR16.9mn the week ended November 26.
Local retail investors’ net buying weakened to QR47.02mn compared to QR91.66mn the previous week.
However, domestic institutions’ net buying considerably increased to QR236.1mn against QR7.45mn the week ended November 26.
Total trade volume almost tripled to 64mn shares and value more than doubled to QR2.51bn on 53% jump in transactions to 25,849 during the week.
The transport sector’s trade volume more than quadrupled to 24.88mn equities and value also more than quadrupled to QR620.72mn on 90% expansion in deals to 4,360.
The industrials sector’s trade volume more than tripled to 13.12mn stocks and value also more than tripled to QR789.53mn on 60% surge in transactions to 7,637.
The real estate sector’s trade volume almost tripled to 9.17mn shares and value more than doubled to QR196.79mn on 79% jump in deals to 3,049.
The insurance sector’s trade volume more than doubled to 0.52mn equities and value also more than doubled to QR196.79mn on 79% expansion in transactions to 396.
The telecom sector’s trade volume almost doubled to 3.73mn stocks and value more than doubled to QR130.92mn on 33% increase in deals to 2,276.
The banks and financial services sector reported 80% increase in trade volume to 11.73mn shares, 87% in value to QR700.13mn and 34% in transactions to 7,271.
However, the consumer goods sector’s trade volume shrank 20% to 0.85mn equities and value by 8% to QR37.96mn; while deals rose 19% by 860.
In the debt market, a total of 10,000 treasury bills valued at QR99.24mn changed hands across one transaction and a total 4,450 government bonds worth QR44.5mn across one deal during the week.