The Qatar Stock Exchange (QSE) Wednesday snapped 10 consecutive days of bullish run and its key index fell 18 points, despite gainers outnumbering losers.
Notwithstanding buying interests in five of the seven sectors, the 20-stock Qatar Index settled 0.17% lower at 10,728.97 points.
The market had a rollercoaster ride with its key index touching an intraday high of 10,757 points and intraday low of 10,705 points.
The banking and transport counters witnessed higher than average net profit booking in the main market, whose year-to-date gains truncated to 0.45%.
The Gulf institutions’ weakened net buying had its influence on the main bourse, whose capitalisation was down QR0.3bn or 0.05% to QR628.4bn, mainly on account of microcap segments.
However, more than 71% of the traded constituents extended gains to investors in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.16mn changed hands across eight deals.
The foreign funds continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index fell 0.17% and the All Share Index by 0.16%, while the Al Rayan Islamic Index (Price) rose 0.82% in the main bourse, whose trade turnover and volumes were on the decline.
The banks and financial services sector index shrank 0.8% and transport (0.26%); while insurance shot up 1.9%, realty (1.48%), telecom (0.71%), industrials (0.45%) and consumer goods and services (0.3%).
Major shakers in the main market included Beema, Nakilat, QNB, Commercial Bank, Alijarah Holding, Qatar Electricity and Water, Gulf International Services and Estithmar Holding.
Nevertheless, Qatari German Medical Devices, Inma Holding, Widam Food, Qatar General Insurance and Reinsurance, Dlala, Masraf Al Rayan, Dukhan Bank, Salam International Investment, Mannai Corporation, Qamco, QLM, United Development Company and Milaha were among the gainers in the main market.
In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
The Gulf institutions’ net buying decreased substantially to QR15.19mn compared to QR54.49mn on May 9.
The foreign retail investors’ net buying weakened marginally to QR2.86mn against QR3.18mn the previous day.
However, the Arab individuals’ net buying increased noticeably to QR11.8mn compared to QR7.41mn on Tuesday.
The foreign institutions’ net profit booking declined significantly to QR8.29mn against QR27.87mn on May 9.
The domestic institutions’ net selling shrank considerably to QR12.17mn compared to QR25.8mn the previous day.
The local retail investors’ net profit booking eased perceptibly to QR6.87mn against QR7.36mn on Tuesday.
The Gulf retail investors’ net selling weakened markedly to QR2.48mn compared to QR3.94mn on May 9.
The Arab institutions had no major net exposure against net profit takers to the extent of QR0.1mn the previous day.
The main market saw a 28% contraction in trade volumes to 271.27mn shares, 21% in value to QR607.42mn and 6% in deals to 20,902.
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