(MENAFN- Gulf Times) Qatar Stock Exchange fell for the third straight session on Wednesday by a huge 100 points to settle a tad above the 10,500 mark, mainly dragged by domestic institutions' net selling.
Profit booking was seen intense in the industrials, transport and banking counters as the 20-stock Qatar Index tanked about 1% to 10,511.5 points, rather reflecting the sentiments in the global markets on reports of Turkey shooting down a Russian fighter jet over Syria.
More than 79% of the traded equities were in the red in the market, which is down 14.44% year-to-date.
The index that tracks Shariah-principled stocks was however seen melting slower than the other indices in the bourse, where trading was largely skewed towards industrials, banking and transport sectors, which together constituted about 79% of the volume.
Market capitalisation eroded 0.96% or more than QR5bn to QR552.72bn with micro, large, small and mid cap equities falling 1.54%, 1.25%, 0.3% and 0.29% respectively.
The Total Return Index shed 0.95% to 16,338.62 points, All Share Index by 0.93% to 2,805.2 points and Al Rayan Islamic Index by 0.77% to 3,954.62 points.
Industrials stocks plunged 1.44%, transport (1.12%), banks and financial services (1.07%), insurance (0.67%), realty (0.44%) and consumer goods (0.14%); while telecom was up 0.06%.
Major losers included QNB, Industries Qatar, Gulf International Services, Aamal Company, Gulf Warehousing, Nakilat, Commercial Bank, Doha Bank, Masraf Al Rayan, al khaliji, Qatari German Company for Medical Devices, Barwa, Ezdan and Mazaya Qatar; whereas Vodafone Qatar and United Development Company bucked the trend.
Domestic institutions turned net sellers to the tune of QR0.79mn compared with net buyers of QR28.6mn on November 24.
Non-Qatari individual investors' net buying weakened to QR2.46mn against QR3.03mn the previous day.
However, local retail investors' net buying increased to QR21.03mn QR7mn compared to QR10.31mn on Tuesday.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the extent of QR1.54mn against net sellers of QR6.6mn on November 24.
Non-Qatari institutions' net profit booking declined to QR22.01mn compared to QR28.79mn the previous day.
The GCC individual investors' net selling also decreased to QR2.23mn against QR6.53mn on Tuesday.
Total trade volume fell 29% to 3.98mn shares, value by 23% to QR175.43mn and deals by 23% to 3,396.
The consumer goods sector saw 71% plunge in trade volume to 0.14mn equities, 67% in value to QR3.8mn and 46% in transactions to 115.
The real estate sector's trade volume plummeted 67% to 0.36mn stocks, value by 70% to QR7.26mn and deals by 65% to 210.
There was 45% shrinkage in the telecom sector's trade volume to 0.33mn shares, 51% in value to QR10.23mn and 38% in transactions to 319.
The banks and financial services sector's trade volume tanked 27% to 1.01mn equities, value by 25% to QR64.3mn and deals by 26% to 956.
The market witnessed 19% decline in the transport sector's trade volume to 0.97mn stocks, 11% in value to QR28.98mn and 21% in transactions to 527.
However, the industrials sector's trade volume surged 39% to 1.15mn shares, value by 17% to QR59.91mn and deals by 16% to 1,239.
Although the insurance sector's trade volume continued to be flat at 0.03mn equities, there was 62% dip in value to QR0.96mn and 30% in transactions to 30.
In the debt market, there was no trading of treasury bills and government bonds.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.