An across-the-board-selling, particularly in insurance, industrials and banking, led the 20-stock Qatar Index to fall 0.22% to 10,291.86 points, reflecting stock specific movements and ahead of the US Federal Reserve meeting to decide on the interest rate.
Foreign institutions’ considerably weakened net buying also negatively influenced the bourse, where micro and small cap stocks were the hardest hit.
Islamic stocks declined faster than the main index and other indices in the market, where buying interests of non-Qatari and Gulf individual investors weakened, even as domestic institutions and local retail investors turned bullish.
Trade turnover and volumes declined in the market, where banking, real estate and telecom sectors together accounted for more than 81% of the total volumes.
Market capitalisation shrank QR2bn, or 0.36%, to QR552.49bn as micro, small and large cap scrips melted 1.47%, 1.32% and 0.28% respectively; whereas midcaps were up 0.07%.
The Total Return Index fell 0.22% to 17,008.08 points, the All Share Index by 0.29% to 2,887.54 points and the Al Rayan Islamic Index by 0.43% to 4,058.83 points.
The insurance sector saw its index decline 0.69%, followed by industrials (0.61%), banks and financial services (0.26%), consumer goods (0.1%), realty (0.07%), and transport and telecom (0.02% each).
Major losers included Qatar First Bank, Mazaya Qatar, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, QNB, QIIB, Medicare Group, Widam Food, Aamal Company, Qatar Electricity and Water, Industries Qatar and Vodafone Qatar.
Nevertheless, among the gainers were Qatar Islamic Bank, Mesaieed Petrochemical Holding, Qatar Insurance, Qatar Islamic Insurance, United Development Company, Alijarah Holding and Qatari Investors Group.
The GCC (Gulf Cooperation Council) institutions’ net selling increased substantially to QR156.48mn against QR12.59mn on Tuesday.
Non-Qatari institutions’ net buying declined significantly to QR35.05mn compared to QR113.07mn the previous day.
Non-Qatari individual investors’ net buying also weakened to QR2.26mn against QR6.46mn on March 14.
The GCC retail investors’ net buying declined perceptibly to QR0.85mn compared to QR2.13mn on Tuesday.
However, domestic institutions turned net buyers to the tune of QR111.27mn against net sellers of QR84.63mn the previous day.
Local retail investors were also net buyers to the extent of QR7.04mn compared with net profit takers of QR24.37mn on March 14.
Total trade volume fell 22% to 12.64mn shares, value by 24% to QR502.82mn and deals by 26% to 5,181.
There was a 55% plunge in the consumer goods sector’s trade volume to 0.35mm equities, 55% in value to QR34.39mn and 39% in transactions to 523.
The banks and financial services sector’s trade volume plummeted 52% to 4.32mn stocks, value by 51% to QR186.08mn and deals by 29% to 1,868.
The transport sector reported a 44% shrinkage in trade volume to 0.33 shares, 54% in value to QR10.98mn and 49% in transactions to 233.
However, the insurance sector’s trade volume doubled to 0.3mn equities and value more than doubled to QR19.59mn on a 32% jump in deals to 248.
The market witnessed a 58% surge in the telecom sector’s trade volume to 2.55mn stocks and 41% in value to QR48.69mn but on a 6% decline in transactions to 492.
The industrials sector’s trade volume soared 22% to 1.39mn shares and value by 64% to QR123.38mn, whereas deals tanked 29% to 814.
The real estate sector saw a 15% expansion in trade volume to 3.41mn equities and 15% in value to QR79.7mn but on a 16% fall in transactions to 1,003.
In the debt market, there was no trading of treasury bills and government bonds.
Islamic stocks declined faster than the main index and other indices in the market, where buying interests of non-Qatari and Gulf individual investors weakened, even as domestic institutions and local retail investors turned bullish.
Trade turnover and volumes declined in the market, where banking, real estate and telecom sectors together accounted for more than 81% of the total volumes.
Market capitalisation shrank QR2bn, or 0.36%, to QR552.49bn as micro, small and large cap scrips melted 1.47%, 1.32% and 0.28% respectively; whereas midcaps were up 0.07%.
The Total Return Index fell 0.22% to 17,008.08 points, the All Share Index by 0.29% to 2,887.54 points and the Al Rayan Islamic Index by 0.43% to 4,058.83 points.
The insurance sector saw its index decline 0.69%, followed by industrials (0.61%), banks and financial services (0.26%), consumer goods (0.1%), realty (0.07%), and transport and telecom (0.02% each).
Major losers included Qatar First Bank, Mazaya Qatar, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, QNB, QIIB, Medicare Group, Widam Food, Aamal Company, Qatar Electricity and Water, Industries Qatar and Vodafone Qatar.
Nevertheless, among the gainers were Qatar Islamic Bank, Mesaieed Petrochemical Holding, Qatar Insurance, Qatar Islamic Insurance, United Development Company, Alijarah Holding and Qatari Investors Group.
The GCC (Gulf Cooperation Council) institutions’ net selling increased substantially to QR156.48mn against QR12.59mn on Tuesday.
Non-Qatari institutions’ net buying declined significantly to QR35.05mn compared to QR113.07mn the previous day.
Non-Qatari individual investors’ net buying also weakened to QR2.26mn against QR6.46mn on March 14.
The GCC retail investors’ net buying declined perceptibly to QR0.85mn compared to QR2.13mn on Tuesday.
However, domestic institutions turned net buyers to the tune of QR111.27mn against net sellers of QR84.63mn the previous day.
Local retail investors were also net buyers to the extent of QR7.04mn compared with net profit takers of QR24.37mn on March 14.
Total trade volume fell 22% to 12.64mn shares, value by 24% to QR502.82mn and deals by 26% to 5,181.
There was a 55% plunge in the consumer goods sector’s trade volume to 0.35mm equities, 55% in value to QR34.39mn and 39% in transactions to 523.
The banks and financial services sector’s trade volume plummeted 52% to 4.32mn stocks, value by 51% to QR186.08mn and deals by 29% to 1,868.
The transport sector reported a 44% shrinkage in trade volume to 0.33 shares, 54% in value to QR10.98mn and 49% in transactions to 233.
However, the insurance sector’s trade volume doubled to 0.3mn equities and value more than doubled to QR19.59mn on a 32% jump in deals to 248.
The market witnessed a 58% surge in the telecom sector’s trade volume to 2.55mn stocks and 41% in value to QR48.69mn but on a 6% decline in transactions to 492.
The industrials sector’s trade volume soared 22% to 1.39mn shares and value by 64% to QR123.38mn, whereas deals tanked 29% to 814.
The real estate sector saw a 15% expansion in trade volume to 3.41mn equities and 15% in value to QR79.7mn but on a 16% fall in transactions to 1,003.
In the debt market, there was no trading of treasury bills and government bonds.
