Substantial selling - especially in telecom and insurance stocks - drove the Qatar Stock Exchange down 44 points on Wednesday, but overall it remained above the 10,400 level.
Foreign institutions hurriedly squared off their position, which led the 20-stock Qatar Index to decline 0.43% to 10,416.83 points, although it went below the 10,400 just before the closing.
Both domestic institutions and Gulf individual investors, however, turned bullish in the market, which was back on the negative trajectory year-to-date with losses of 0.19%.
Large and microcap equities were the hardest hit in the bourse, which, however, saw increased net buying by Gulf individual investors and institutions.
Islamic stocks were seen falling slower than the main index as well as other indices in the market, where local retail investors’ net selling weakened.
Trade turnover and volumes were on the decline in the bourse, where telecom, banking and real estate sectors together accounted for about 88% of the total volumes.
Market capitalisation shed about QR2bn, or 0.34%, to QR558.57bn as large and microcap declined 0.59% and 0.52%; whereas mid and small caps gained 0.39% and 0.16% respectively.
The Total Return Index shrank 0.43% to 17,264.4 points, the All Share Index by 0.32% to 2,935.27 points and the Al Rayan Islamic Index by 0.2% to 4,139.92 points.
The telecom sector saw its index decline 2.26%, followed by insurance (1.02%), banks and financial services (0.4%), transport (0.2%) and industrials (0.07%); while consumer goods and realty gained 0.45% and 0.08% respectively.
A half of the stocks were in the red with major losers being Ooredoo, Vodafone Qatar, Doha Insurance, Qatar Insurance, Commercial Bank, Qatar Islamic Bank, QNB, Masraf Al Rayan, Dlala, Qatar Electricity and Water, Industries Qatar, Mesaieed Petrochemical Holding, Mazaya Qatar, Ezdan, Nakilat and Gulf Warehousing.
Gulf International Services, Qatar General Insurance and Reinsurance, Barwa, Qatari Investors Group, Woqod, Alijarah Holding and Ahli Bank were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR12.27mn compared with net buyers of QR69.4mn on Tuesday.
However, domestic institutions were net buyers to the tune of QR5.96mn against net sellers of QR44.91mn on March 28.
Non-Qatari individual investors turned net buyers to the extent of QR5.35mn compared with net sellers of QR10.92mn the previous day.
GCC (Gulf Cooperation Council) retail investors’ net buying increased to QR6.63mn against QR2.74mn on Tuesday.
GCC institutions’ net buying also strengthened, albeit marginally, to QR4.8mn compared to QR3.76mn on March 28.
Local retail investors’ net profit-booking weakened perceptibly to QR10.48mn against QR20.07mn the previous day.
Total trade volumes fell 26% to 11.55mn shares, value by 26% to QR289.37mn and deals by 18% to 4,130.
There was a 47% plunge in the industrials sector’s trade volume to 0.47mn equities, 24% in value to QR25.85mn and 33% in transactions to 433.
The real estate sector’s trade volume plummeted 37% to 2.37mn stocks, value by 28% to QR49.31mn and deals by 14% to 796.
The banks and financial services sector saw a 25% shrinkage in trade volume to 3.18mn shares, 34% in value to QR113.68mn and 16% in transactions to 1,418.
The telecom sector’s trade volume tanked 23% to 4.56mn equities, value by 5% to QR60.78mn and deals by 23% to 813.
The consumer goods sector reported a 17% decline in trade volume to 0.3mm stocks, 23% in value to QR18.17mn and 30% in transactions to 276.
The insurance sector’s trade volume was down 5% to 0.2mn shares, value by 40% to QR7.83mn and deals by 19% to 141.
The market witnessed a 38% surge in the transport sector’s trade volume to 0.47mn equities, but on a 16% fall in value to QR13.76mn despite 55% expansion in transactions to 253.
In the debt market, there was no trading of treasury bills and government bonds.
Both domestic institutions and Gulf individual investors, however, turned bullish in the market, which was back on the negative trajectory year-to-date with losses of 0.19%.
Large and microcap equities were the hardest hit in the bourse, which, however, saw increased net buying by Gulf individual investors and institutions.
Islamic stocks were seen falling slower than the main index as well as other indices in the market, where local retail investors’ net selling weakened.
Trade turnover and volumes were on the decline in the bourse, where telecom, banking and real estate sectors together accounted for about 88% of the total volumes.
Market capitalisation shed about QR2bn, or 0.34%, to QR558.57bn as large and microcap declined 0.59% and 0.52%; whereas mid and small caps gained 0.39% and 0.16% respectively.
The Total Return Index shrank 0.43% to 17,264.4 points, the All Share Index by 0.32% to 2,935.27 points and the Al Rayan Islamic Index by 0.2% to 4,139.92 points.
The telecom sector saw its index decline 2.26%, followed by insurance (1.02%), banks and financial services (0.4%), transport (0.2%) and industrials (0.07%); while consumer goods and realty gained 0.45% and 0.08% respectively.
A half of the stocks were in the red with major losers being Ooredoo, Vodafone Qatar, Doha Insurance, Qatar Insurance, Commercial Bank, Qatar Islamic Bank, QNB, Masraf Al Rayan, Dlala, Qatar Electricity and Water, Industries Qatar, Mesaieed Petrochemical Holding, Mazaya Qatar, Ezdan, Nakilat and Gulf Warehousing.
Gulf International Services, Qatar General Insurance and Reinsurance, Barwa, Qatari Investors Group, Woqod, Alijarah Holding and Ahli Bank were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR12.27mn compared with net buyers of QR69.4mn on Tuesday.
However, domestic institutions were net buyers to the tune of QR5.96mn against net sellers of QR44.91mn on March 28.
Non-Qatari individual investors turned net buyers to the extent of QR5.35mn compared with net sellers of QR10.92mn the previous day.
GCC (Gulf Cooperation Council) retail investors’ net buying increased to QR6.63mn against QR2.74mn on Tuesday.
GCC institutions’ net buying also strengthened, albeit marginally, to QR4.8mn compared to QR3.76mn on March 28.
Local retail investors’ net profit-booking weakened perceptibly to QR10.48mn against QR20.07mn the previous day.
Total trade volumes fell 26% to 11.55mn shares, value by 26% to QR289.37mn and deals by 18% to 4,130.
There was a 47% plunge in the industrials sector’s trade volume to 0.47mn equities, 24% in value to QR25.85mn and 33% in transactions to 433.
The real estate sector’s trade volume plummeted 37% to 2.37mn stocks, value by 28% to QR49.31mn and deals by 14% to 796.
The banks and financial services sector saw a 25% shrinkage in trade volume to 3.18mn shares, 34% in value to QR113.68mn and 16% in transactions to 1,418.
The telecom sector’s trade volume tanked 23% to 4.56mn equities, value by 5% to QR60.78mn and deals by 23% to 813.
The consumer goods sector reported a 17% decline in trade volume to 0.3mm stocks, 23% in value to QR18.17mn and 30% in transactions to 276.
The insurance sector’s trade volume was down 5% to 0.2mn shares, value by 40% to QR7.83mn and deals by 19% to 141.
The market witnessed a 38% surge in the transport sector’s trade volume to 0.47mn equities, but on a 16% fall in value to QR13.76mn despite 55% expansion in transactions to 253.
In the debt market, there was no trading of treasury bills and government bonds.
