Qatar Stock Exchange on Wednesday remained under bearish spell, albeit at lower levels, for the second day, amidst substantial weakening of buying interests of foreign institutions.

Profit booking was seen intense within realty, consumer goods and insurance counters as the 20-stock Qatar Index shed a marginal 0.07% or eight points to 10,465.43 points.

Local retail investors’ higher net selling also abetted the bearish sentiments in the bourse, whose year-to-date gains were contained at 0.35%.

However, domestic and Gulf institutions turned bullish in the market, where telecom and banking stocks accounted for more than 66% of the total volumes.

A marginal jump in large cap equities, however, lifted the capitalisation in the market, where trading turnover and volumes were on the decline.

Market capitalisation was up 0.02% or QR9mn to QR561.97bn as large cap stocks gained 0.03%; while mid, micro and small caps fell 0.29%, 0.18% and 0.15% respectively.

The Total Return Index was down 0.07% to 16,932.37 points, All Share Index by 0.1% to 2,885.97 points and Al Rayan Islamic Index by 0.29% to 3,945.1 points.

Real estate stocks declined 0.75%, consumer goods and insurance (0.49% each), banks and financial services (0.16%) and telecom (0.09%); whereas industrials and transport gained 0.66% and 0.35% respectively.

More than 52% of the traded equities were in the red with major losers being Barwa, Mazaya Qatar, Ezdan, United Development Company, Qatar Insurance, Commercial Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding, Vodafone Qatar, Qatari Investors Group and Salam International Investment.

Nevertheless, Industries Qatar, Gulf International Services, Qatar Electricity and Water, Nakilat and Dlala were seen making gains.

Non-Qatari institutions’ net buying weakened substantially to QR11.66mn against QR61.99mn on September 27.

Local retail investors’ net profit booking increased to QR15.39mn compared to QR12.61mmn on Tuesday.

Non-Qatari individual investors’ net selling strengthened to QR1.25mn against QR0.06mn the previous day.

The GCC (Gulf Cooperation Council) individual investors’ net buying fell to QR0.62mn compared to QR1.63mn on September 27.

However, domestic institutions turned net buyers to the tune of QR2.72mn against net sellers of QR50.79mn on Tuesday.

The GCC institutions were also net buyers to the extent of QR1.63mn compared with net profit takers of QR0.11mn the previous day.

Total trade volume fell 28% to 5.27mn shares, value by 44% to QR155.66mn and deals by 25% to 2,314.

There was 77% plunge in the industrials sector’s trade volume to 0.54mn equities, 74% in value to QR36.7mn and 46% in transactions to 550.

The insurance sector’s trade volume plummeted 22% to 0.07mn stocks, value by 15% to QR6.12mn and deals by 2% to 65.

The market witnessed 14% shrinkage in the transport sector’s trade volume to 0.31mn shares, 9% in value to QR12.04mn and 25% in transactions to 185.

The banks and financial services sector’s trade volume tanked 9% to 1.04mn equities, value by 22% to QR43.02mn and deals by 1% to 748.

The real estate sector witnessed 8% decline in trade volume to 0.66mn stocks, 21% in value to QR12.95mn and 41% in transactions to 221.

The telecom sector’s trade volume was down 6% to 2.45mn shares; while value rose 3% to QR36.57mn. Deals shrank 25% to 376.

However, the consumer goods sector reported 73% surge in trade volume to 0.19mn equities, 34% in value to QR8.28mn and 24% in transactions to 169.

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

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