Domestic institutions’ increased net selling dragged the 20-stock Qatar Index 0.35% or 37 points to 10,472.93 points, as global oil markets also witnessed a retreat on fading hopes of production cuts at the Algiers meeting of the oil producers amidst supply glut.
Large cap equities were seen the hardest hit in the market, where trading turnover and volumes were, however, on the increase.
Foreign institutions’ marginally lower buying support also added fuel to the bearish sentiments in the bourse, whose year-to-date gains were contained at 0.42%.
However, selling pressure from local and Gulf retail investors as well as Gulf institutions was seen weakening in the market, where telecom, industrials and banking stocks accounted for about 83% of the total volumes.
Market capitalisation was down 0.3% or about QR2bn to QR561.88bn as large and small cap equities fell 0.35% and 0.07%; whereas micro and small caps gained 0.18% and 0.1% respectively.
The Total Return Index shed 0.35% to 16,944.5 points and All Share Index by 0.27% to 2,888.75 points; whereas Al Rayan Islamic Index rose 0.18% to 3,956.75 points.
Real estate stocks declined 0.57%, telecom (0.54%), transport (0.46%), banks and financial services (0.41%), consumer goods (0.18%) and industrials (0.07%); while insurance was up 0.07%.
As much as 55% of the traded equities were in the red with major losers being Ezdan, Ooredoo, QNB, Doha Bank, Commercial Bank, Masraf Al Rayan, al khaliji, Mannai Corporation and Gulf International Services.
Nevertheless, Qatar Islamic Bank, Qatari Investors Group, Industries Qatar, Mesaieed Petrochemical Holding, Mazaya Qatar, United Development Company, Gulf Warehousing, Vodafone Qatar, Dlala and Qatari German Company for Medical Devices were seen gaining.
Domestic institutions’ net selling strengthened perceptibly to QR50.79mn compared to QR31.16mn the previous day.
Non-Qatari institutions’ net buying weakened marginally to QR61.99mn against QR62.72mn on September 26.
However, local retail investors’ net profit booking declined to QR12.61mmn compared to QR16.01mn on Monday.
The GCC (Gulf Cooperation Council) institutions’ net selling plunged to QR0.11mn against QR14.06mn the previous day.
The GCC individual investors’ net buying strengthened to QR1.63mn compared to QR1.16mn on September 26.
Non-Qatari individual investors’ net profit booking weakened to QR0.06mn against QR2.65mn on Monday.
Total trade volume rose 19% to 7.36mn shares and value by 17% to QR276.49mn; while deals were down 15% to 3,101.
There was 48% surge in the industrials sector’s trade volume to 2.33mn equities, 54% in value to QR142.53mn and 47% in transactions to 1,024.
The transport sector’s trade volume soared 44% to 0.36mn stocks and value by 83% to QR13.2mn; while deals were down 6% to 248.
The telecom sector reported 37% increase in trade volume to 2.61mn shares and 7% in value to QR35.6mn but on 27% decline in transactions to 501.
The insurance sector’s trade volume shot up 13% to 0.09mn equities and value by 19% to QR7.24mn; whereas deals shrank 44% to 66.
The market witnessed 10% expansion in the consumer goods sector’s trade volume to 0.11mn stocks and 35% in value to QR6.17mn; but on 27% plunge in transactions to 136.
However, the banks and financial services sector’s trade volume tanked 26% to 1.14mn shares, value by 25% to QR55.34mn and deals by 37% to 754.
The real estate sector witnessed 4% decline in trade volume to 0.72mn equities, 14% in value to QR16.41mn and 23% in transactions to 372.
In the debt market, there was no trading of treasury bills and government bonds.