The Qatar Stock Exchange witnessed more than 52% of the constituents in the red, even as its key benchmark declined mere 0.04%.
The real estate and consumer goods counters witnessed higher than average selling pressure, leading to a four points decline in the 20-stock Qatar Index to 9,761.69 points.
There was increased selling pressure from Gulf institutions and non-Qatari individuals in the market, whose sensitive index is down 5.22% year-to-date.
Market capitalisation fell more than QR1bn, or 0.24%, to QR552.33bn mainly owing to the microcap segments.
Islamic equities were seen declining faster than the main index in the market, where domestic institutions’ net buying weakened substantially.
Trade turnover and volumes were on the decline in the bourse, where the industrials, realty and banking sectors together accounted for about 80% of the total volume.
The Total Return Index was up 0.09% to 17,727.86 points, the Al Rayan Islamic Index (Price) by 0.3% to 2,298.4 points and the All Share Index by 0.14% to 2,973.77 points.
The realty index shrank 2.03% and consumer goods 0.66%; whereas transport gained 0.96%, telecom (0.38%), banks and financial services (0.27%), and industrials and realty (0.01% each).
Major losers included Salam International Investment, Industries Qatar, Mesaieed Petrochemical Holding, United Development Company, Ezdan, Vodafone Qatar and Gulf Warehousing; even as Nakilat, Barwa, Aamal Company, Zad Holding, Qatari German Company for Medical Devices and Commercial Bank were among the prime gainers.
Gulf institutional investors’ net profit booking increased noticeably to QR13.88mn against QR2.22mn on March 12.
Non-Qatari individuals’ net selling increased influentially to QR11.29mn compared to QR1.14mn the previous day.
Domestic institutional investors’ net buying declined substantially to QR30.63mn against QR63.69mn on Tuesday.
However, non-Qatari funds’ net buying strengthened significantly to QR12.12mn compared to QR1.01mn on March 12.
Gulf individuals turned net buyers to the tune of QR2.04mn against net sellers of QR2.06mn the previous day.
Local retail investors’ net profit booking fell considerably to QR19.59mn compared to QR59.32mn on Tuesday.
Total trade volume fell 24% to 8.15mn shares, value by 15% to QR275.97mn and transactions by 20% to 5,154.
The transport sector’s trade volume plummeted 79% to 0.14mn equities, value by 79% to QR3.56mn and deals by 43% to 137.
The insurance sector reported a 48% plunge in trade volume to 0.45mn stocks, 50% in value to QR14.91mn and 39% in transactions to 376.
The real estate sector’s trade volume tanked 34% to 2mn shares, value by 38% to QR35.71mn and deals by 32% to 1,103.
There was a 14% shrinkage in the consumer goods sector’s trade volume to 0.49mn equities, 55% in value to QR41.56mn and 7% in transactions to 467.
The industrials sector’s trade volume declined 13% to 3.15mn stocks, whereas value grew 48% to QR98.08mn despite 18% lower deals at 1,748.
The banks and financial services sector saw a 4% dip in trade volume to 1.33mn shares but on a 33% increase in value to QR56.65mn and 1% in transactions to 983.
However, the telecom sector’s trade volume surged 11% to 0.6mn equities, value by 24% to QR25.5mn and deals by 13% to 340.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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