The Qatar Stock Exchange on Wednesday treaded almost a flat path, reflecting in an unchanged capitalisation, amidst increased demand in the industrials and real estate counters.
Foreign funds continued to be net buyers but with lesser intensity as the 20-stock Qatar Index settled mere 0.03% higher at 11,096.02 points, although it touched an intraday high of 11,120 points.
The domestic institutions’ net selling pressure considerably weakened in the market, whose year-to-date gains were at 6.32%.
Nevertheless, more than 54% of the traded constituents were in the red in the bourse, whose capitalisation was rather unchanged at QR640.01bn, in even as there was demand for the microcap segments.
Local retail investors were seen net profit takers in the market, which saw the industrials and banking sectors together constitute about 69% of the total trading volume. The overall trade turnover and volumes were on the decline in the bourse, where the Arab individuals turned net buyers, albeit at lower levels.
The foreign individuals’ net selling weakened in the market, which saw a total of 21,455 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha bank sponsored QETF) valued at QR207,457 change hands across three deals.
The Total Return Index was up 0.03% to 21,965.23 points and Al Rayan Islamic Index (Price) by 0.03% to 2,516.34 points, while All Share Index was down 0.02% to 3,525.61 points in the market which saw no trading of sovereign bonds and treasury bills. The industrials sectors index gained 0.67%, realty (0.49%) and telecom (0.06%); whereas consumer goods and services declined 0.79%, insurance (0.54%), transport (0.22%) and banks and financial services (0.16%).
Major movers included Industries Qatar, Barwa, Qatar Electricity and Water, Gulf International Services, Qatar Industrial Manufacturing, Al Meera Consumer Goods, and Untied Development Company.
Nevertheless, Ahlibank Qatar, Mannai Corporation, Doha Bank, QLM, Doha Insurance, Masraf Al Rayan, Alijarah Holding, Qatari German Medical Devices, Woqod, Baladna, Qamco, Qatar Insurance and Nakilat were among the losers.
The Arab individuals were net buyers to the extent of QR0.61mn compared with net sellers of QR4.36mn on August 31.
The domestic funds’ net selling weakened significantly to QR15.08mn against QR53.97mn the previous day.
The Gulf institutions’ net selling shrank noticeably to QR2.71mn compared to QR6.18mn on Tuesday.
The foreign individuals’ net profit booking eased marginally to QR0.05mn against QR0.6mn on August 31.
However, Qatari individuals were net sellers to the tune of QR13.12mn compared with net buyers of QR8.59mn the previous day.
The Gulf individuals turned net sellers to the extent of QR0.21mn against net buyers of QR1.07mn on Tuesday.
The foreign institutions’ net buying shrank drastically to QR30.55mn compared to QR55.39mn on August 31.
The Arab institutions had no major net exposure against net buyers to the extent of QR0.07mn the previous day.
Total trade volume fell 48% to 98.91mn shares, value by 56% to Q283.15mn and transactions by 33% to 7,287.
The insurance sector’s trade volume plummeted 76% to 1.18mn equities, value by 80% to QR2.78mn and deals by 41% to 107. There was 71% plunge in the consumer goods and services sector’s trade volume to 14.9mn stocks, 71% in value to QR33.05mn and 53% in transactions to 865.
The transport sector’s trade volume tanked 63% to 2.45mn shares, value by 56% to QR9.77mn and deals by 11% to 307.
The market witnessed 56% shrinkage in the telecom sector’s trade volume to 2.32mn equities, 68% in value to QR10.5mn and 59% in transactions to 405.
The industrials sector’s trade volume dipped 42% to 43.07mn stocks, value by 56% to QR82.9mn and deals by 28% 2,277.
The real estate sector reported 35% contraction in trade volume to 9.95mn shares, 41% in value to QR14.68mn and 35% in transactions to 527.
The banks and financial services sector’s trade volume shrank 25% to 25.04mn equities, value by 48% to QR129.46mn and deals by 21% to 2,799.
In the venture market, Al Faleh equities were seen gaining 0.18%; whereas those of Mekdam Holding declined 3.42%.