(MENAFN- Gulf Times) Stronger profit booking from foreign institutions landed the Qatar Stock Exchange in the negative trajectory on Tuesday as its key index was down 32 points.
Selling pressure € particularly in the industrials, real estate and transport sector € led the 20-stock Qatar Index to settle 0.28% lower at 11,433.75 points amidst higher overall volumes.
Nevertheless, non-Qatari and Gulf Cooperation Council (GCC) individual investors turned bullish and there was increased net buying by domestic institutions in the market, which is down 6.94% year-to-date.
The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the bourse, where trading was largely skewed towards the real estate, industrials, telecom and banking sectors, which together constituted more than 91% of the trading volume.
Market capitalisation shed 0.34% or more than QR2bn to QR602.41bn with micro, large and small cap equities losing 0.72%, 0.3% and 0.14% respectively; while mid caps rose 0.2%.
The Total Return Index fell 0.28% to 17,772.12 points, All Share Index by 0.24% to 3,042.52 points and Al Rayan Islamic Index by 0.62% to 4,308.49 points.
Industrials stocks shrank 0.64%, realty (0.46%), transport (0.45%) and banks and financial services (0.14%); whereas insurance, telecom and consumer goods gained 0.58%, 0.49% and 0.18% respectively.
Major losers included Industries Qatar, Qatari Investors Group, Aamal Company, Mazaya Qatar, United Development Company, Ezdan, Gulf Warehousing, QNB and Islamic Holding Group; even as Vodafone Qatar, Ooredoo, Nakilat, Qatar Islamic Bank and Gulf International Services bucked the trend.
Non-Qatari institutions turned net sellers to the tune of QR39.86mn against net buyers of QR15.42mn on September 21.
However, domestic institutions' net buying increased to QR40.38mn compared to QR12.75mn on Sunday.
Non-Qatari individual investors turned net buyers to the extent of QR4.89mn against net sellers of QR6.99mn the previous day.
The GCC individual investors were also net buyers ton the tune of QR0.09mn compared with net sellers of QR3.25mn on September 21.
Local retail investors' net profit booking weakened to QR0.3mn against QR8.32mn on Sunday.
The GCC institutions' net selling weakened to QR5.26mn compared to QR9.6mn the previous day.
Total trade volume rose 38% to 6.03mn shares, value by 65% to QR289.07mn and deals by 15% to 3,552.
The consumer goods sector's trade volume more than tripled to 0.32mn equities but value rose only 2% to QR11.45mn, while transactions shrank 45% to 100.
The insurance sector's trade volume doubled to 0.12mn stocks and value more than doubled to QR8.89mn but on 14% fall in deals to 48.
The market witnessed 71% expansion in the telecom sector's trade volume to QR1.23mn shares, 75% in value to QR37.65mn and 3% in transactions to 483.
The banks and financial services sector's trade volume soared 54% to 1.22mn equities, value by 98% to QR92.86mn and deals by 37% to 835.
The industrials sector saw 44% surge in trade volume to 1.5mn stocks, 82% in value to QR99.81mn and 40% in transactions to 1,248.
However, the transport sector's trade volume declined 17% to 0.1mn shares and value by 8% to QR4.05mn; even as deals were up 8% to 172.
Although the real estate sector's trade volume was flat at 1.54mn equities, there was 7% rise in value to QR34.35mn. Transactions were down 6% to 666.
In the debt market, there was no trading of treasury bills and government bonds.
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