The Qatar Stock Exchange on Wednesday remained above the 8,600 level although it witnessed a minor correction owing to selling pressure, especially in insurance, real estate, industrials and consumer goods.
The weakened buying support from foreign institutions and individual investors was largely instrumental in the 0.14% dip in the 20-stock Qatar Index to 8,608.31 points.
Small- and large-cap equities, however, witnessed strong buying interests in the bourse, which saw Gulf individuals and funds turn bullish.
Islamic equities were seen declining faster than the main market, whose capitalisation was up mere 0.04% to QR477.25bn.
Trade turnover and volumes were on the decline in the bourse, where the real estate, banking and industrials sectors together accounted for more than 82% of the total volume.
The Total Return Index fell 0.14% to 14,435.62 points, the Al Rayan Islamic Index by 0.56% to 3,467.83 points and the All Share Index by 0.25% to 2,472.39 points.
The insurance index shrank 1.4%, followed by realty (1.26%), industrials (0.47%), consumer goods (0.35%) and telecom (0.06%); whereas banks and financial services gained 0.35% and transport 0.09%.
Major gainers included QNB, Qatar Islamic Bank, Doha Bank, Islamic Holding Group, Salam International Investment, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Mazaya Qatar, Gulf Warehousing and Nakilat.
Nevertheless, Industries Qatar, Aamal Company, Qatari Investors Group, Commercial Bank, Qatar First Bank, Al Khaliji, Ezdan, Barwa, Milaha, Medicare Group and Widam Food were among the losers.
Non-Qatari institutions’ net buying weakened considerably to QR9.05mn compared to QR25.26mn on January 2.
Non-Qatari retail investors’ net buying declined perceptibly to QR5.15mn against QR9.54mn the previous day.
However, Gulf individual investors turned net buyers to the tune of QR0.66mn compared with net sellers of QR0.26mn on Tuesday.
Gulf institutions were also net buyers to the extent of QR0.18mn against net sellers of QR4.16mn on January 2.
Domestic institutions’ net selling declined influentially to QR14.53mn compared to QR20.73mn the previous day.
Local individuals’ net profit-booking shrank substantially to QR0.46mn against QR9.68mn on Tuesday.
Total trade volume fell 10% to 8.61mn shares, value by 16% to QR198.8mn and deals by 14% to 3,739.
There was an 82% plunge in the insurance sector’s trade volume to 0.06mn equities, 60% in value to QR2.29mn and 26% in transactions to 53.
The banks and financial services sector’s trade volume plummeted 50% to 1.66mn stocks, value by 38% to QR60.28mn and deals by 31% to 977.
The industrials sector reported a 36% shrinkage in trade volume to 1.48mn shares but on a 3% rise in value to QR36.2mn despite 9% lower transactions to 779.
The transport sector’s trade volume tanked 21% to 0.5mn equities, value by 30% to QR10.49mn and deals by 23% to 294.
The market witnessed an 8% decline in the telecom sector’s trade volume to 0.48mn stocks, 49% in value to QR7.66mn and 55% in transactions to 228.
The consumer goods sector’s trade volume shrank 8% to 0.48mn shares and value by 13% to QR29.59mn, while deals were up 5% to 510.
However, the real estate sector’s trade volume more than doubled to 3.94mn equities, value soared 53% to QR52.3mn and transactions by 46% to 898.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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