Net selling pressure from local and Gulf retail investors as well as Gulf institutions drove the 20-stock Qatar Index down 0.29% or 30 points to 10,435.46 points, even as other Gulf bourses gained on the back of the oil output cut decision at Algiers.
Telecom, realty and consumer goods particularly witnessed higher than average selling in the bourse, whose year-to-date gains were contained at mere 0.06%.
However, foreign institutions were increasingly net buyers in the market, where banking, telecom and industrials stocks accounted for about 73% of the total volumes.
Islamic stocks were seen declining faster than the conventional ones in the market, where small and large cap equities were seen the hardest hit.
Market capitalisation fell 0.22%, or more than QR1bn, to QR560.74bn as small and large cap stocks lost 0.54% and 0.23%, while mid and microcaps fell 0.49% and 0.23% respectively.
The Total Return Index shed 0.29% to 16,883.89 points, the All Share Index by 0.26% to 2,878.48 points and the Al Rayan Islamic Index by 0.39% to 3,929.74 points.
Telecom stocks plunged 1.84%, real estate (1.34%), consumer goods (0.6%) and banks and financial services (0.03%); whereas transport gained 0.78%, insurance (0.52%) and industrials (0.07%).
More than 51% of the traded equities were in the red with major losers being Ooredoo, Vodafone Qatar, Ezdan, Mazaya Qatar, Barwa, Mannai Corporation, Qatar Islamic Bank, Gulf International Services and Nakilat.
However, Industries Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Commercial Bank, Doha Bank, Alijarah Holding, United Development Company and Milaha saw their stocks gain.
Local retail investors’ net profit-booking increased to QR25.78mn compared to QR15.39mn on Wednesday.
GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR1.82mn against net buyers of QR1.63mn on September 28.
GCC individual investors were also net sellers to the extent of QR10.4mn compared with net buyers of QR0.62mn the previous day.
Domestic institutions’ net buying weakened marginally to QR2.27mn against QR2.72mn on Wednesday.
However, non-Qatari institutions’ net buying increased substantially to QR32.88mn compared to QR11.66mn on September 28.
Non-Qatari individual investors turned net buyers to the tune of QR2.86mn against net sellers of QR1.25mn the previous day.
Total trade volume rose 31% to 6.92mn shares, value by 80% to QR280.51mn and deals by 89% to 4,362.
The industrials sector’s trade volume more than doubled to 1.24mn equities and value almost doubled to QR72.95mn on a 91% expansion in transactions to 1,049.
The banks and financial services sector’s trade volume almost doubled to 2.03mn stocks and value more than doubled to QR100.04mn on a 76% expansion in deals to 1,320.
There was an 86% surge in the insurance sector’s trade volume to 0.13mn shares, 52% in value to QR9.31mn and 92% in transactions to 125.
The transport sector’s trade volume soared 65% to 0.51mn equities, value by 33% to QR16.01mn and deals by 27% to 235.
The real estate sector witnessed a 64% increase in trade volume to 1.08mn stocks and 81% in value to QR23.44mn on almost-tripled-transactions to 646.
The consumer goods sector’s trade volume was up 5% to 0.2mn shares, value by 93% to QR15.99mn and deals by 71% to 289.
However, the market witnessed a 29% shrinkage in the telecom sector’s trade volume to 1.75mn equities; but on a 17% jump in value to QR42.87mn and 86% in transactions to 698.
In the debt market, there was no trading of treasury bills and government bonds.