Stronger selling by local retail and institutions was contained by robust buying interests of foreign and Gulf institutions that the Qatar Stock Exchange largely remained flat on Wednesday.

Notwithstanding stronger demand for transport and consumer goods segments, the 20-stock Qatar Index settled at 10,245.87 points, amidst reports that global oil prices are firming up in the wake of April 17 meeting of oil producers.

Profit booking was seen stronger within small cap segments in the market, which is down 1.76% year-to-date.

Gulf institutions’ net selling strengthened; while their Gulf counterparts turned marginally bullish in the bourse, where trading turnover and volumes were on the decline.

The index that tracks Shariah-principled stocks was hit the most in the market, where banking, industrials and real estate stocks together constituted more than 71% of the total trading volume.

Market capitalisation was up 0.12% or QR65mn to QR548.09bn with micro and large cap equities gaining 0.7% and 0.22%, whereas small and midcaps fell 1.17% and 0.06% respectively.

The Total Return Index was down marginally to 16,577.13 points and Al Rayan Islamic Index by 0.25% to 4,046.84 points, while All Share Index was up 0.01% to 2,860.68 points.

Transport stocks gained 0.94%, consumer goods (0.29%), realty (0.06%), banks and financial services (0.04%) and insurance (0.03%); even as industrials and telecom fell 0.42% and 0.11% respectively.

Major gainers included QNB, Mesaieed Petrochemical Holding, Gulf Warehousing, Qatari German Company for Medical Devices and Widam Food; even as Qatari Investors Group, Gulf International Services, Aamal Company, Vodafone Qatar, Doha Bank and QIIB.

Local retail investors turned net sellers to the extent of QR20.05mn compared with net buyers of QR26.42mn on April 12.

Domestic institutions’ net profit booking strengthened considerably to QR63.72mn against QR8.44mn the previous day.

The GCC (Gulf Cooperation Council) individual investors’ net selling rose to QR2.02mn compared to QR0.25mn on Tuesday.

However, non-Qatari institutions’ net buying increased perceptibly to QR75.52mn against QR10.48mn on April 12.

The GCC institutions turned net buyers to the tune of QR9.39mn compared with net sellers of QR21.4mn the previous day.

Non-Qatari individual investors were also net buyers to the extent of QR0.83mn against net profit takers of QR6.85mn on Tuesday.

Total trade volume fell 42% to 10.77mn shares, value by 12% to QR438.81mn and deals by 20% to 5,910.

The real estate sector saw 75% plunge in trade volume to 2.02mn equities, 71% in value to QR38.25mn and 66% in transactions to 714.

The telecom sector’s trade volume plummeted 57% to 0.64mn stocks, value by 38% to QR16.37mn and deals by 26% to 529.

The market witnessed 40% shrinkage in the industrials sector’s trade volume to 2.26mn shares and 23% in value to QR94.47mn but on 19% jump in transactions to 1,682.

The consumer goods sector’s trade volume tanked 34% to 1.05mn equities, value by 34% to QR51.85mn and deals by 50% to 572.

However, the transport sector’s trade volume more than tripled to 1.32mn stocks and value also more than tripled to QR68.77mn on more than doubled transactions to 795.

The banks and financial services sector reported 2% rise in trade volume to 3.4mn shares and 48% in value to QR163.09mn but on 3% fall in deals to 1,525.

 Although the insurance sector’s trade volume was flat at 0.09mn equities, there was 21% surge in value to QR6.02mn. Transactions fell 19% to 93.

In the debt market, there was no trading of treasury bills and government bonds.

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