Qatar Stock Exchange on Wednesday failed to break the 9,900 levels with its key index retreating 18 points mainly on profit-booking pressure within the insurance, real estate and industrial sectors.
Foreign and Gulf institutions were seen net sellers as the 20-stock Qatar Index settled 0.18% lower at 9,877.1 points.
Domestic institutions were, however, seen bullish in the market, whose key benchmark closed 4.1% lower year-to-date.
Market capitalisation saw more than QR1bn, or 0.22%, increase to QR546.42bn mainly owing to large cap segments.
Islamic equities were seen declining faster than the main index in the market, where local retail investors continued to be net profit takers but with lesser intensity.
Trade turnover grew amidst lower volumes in the bourse, where the banking, industrials and real estate sectors together accounted for about 82% of the total volume.
The Total Return Index was down 0.18% to 18,174.7 points and the Al Rayan Islamic Index (Price) by 0.37% to 2,241.22 points, while the All Share Index was up 0.02% to 2,922.15 points.
The insurance index shrank 1.35%, realty (1.01%) and industrials (0.72%); while banks and financial services gained 0.52%, transport (0.3%), telecom (0.3%) and consumer goods (0.28%).
Influential losers included Industries Qatar, Gulf International Services, Doha Bank, Qatar Insurance, Barwa, Ezdan and United Development Company; whereas QNB, Qatar Oman Investment, Salam International Investment, Medicare Group, Mesaieed Petrochemical Holding, Qatar General and Reinsurance, Al Khaleej Takaful, Ooredoo and Nakilat were among the prime gainers.
Non-Qatari institutions turned net sellers to the tune of QR10.88mn compared with net buyers of QR12.63mn on Tuesday.
Gulf institutions were also net sellers to the extent of QR1.74mn against net buyers of QR4.2mn the previous day.
Non-Qatari individuals turned net sellers to the tune of QR1.16mn compared with net buyers of QR0.14mn on August 20.
Gulf individuals were net profit takers to the extent of QR0.02mn against net buyers of QR0.6mn on Tuesday.
However, domestic funds turned net buyers to the tune of QR21.32mn compared with net sellers of QR4.34mn the previous day.
Local retail investors’ net profit booking declined noticeably to QR7.54mn against QR13.23mn on August 20.
Total trade volume declined 26% to 47.96mn shares, while value grew 5% to QR184.72mn despite 42% lower transaction at 4,927.
The telecom sector’s trade volume plummeted 73% to 1.54mn equities, value by 51% to QR6.05mn and deals by 41% to 375.
The real estate sector reported a 52% plunge in trade volume to 10.68mn stocks, 12% in value to QR15.39mn and 28% in transactions to 591.
The consumer goods’ trade volume tanked 18% to 1.3mn shares, value by 33% to QR7.87mn and deals by 28% to 233.
The banks and financial services sector saw an 18% shrinkage in trade volume to 15.84mn equities but on a 7% jump in value to QR99.62mn despite 35% lower transactions at 1,341.
However, the transport sector’s trade volume doubled to 3.41mn stocks and value almost doubled to QR8.12mn on a 60% increase in deals to 284.
There was a 31% surge in the insurance sector’s trade volume to 2.51mn shares and 38% in value to QR6.74mn but on a 2% fall in transactions to 385.
The industrials sector’s trade volume was up 2% to 12.68mn equities and value by 24% to QR40.93mn, while deals contracted 58% to 1,718.
In the debt market, there was no trading of treasury bills and sovereign bonds.