The Qatar Stock Exchange on Wednesday weakened further to remain below 10,400 levels, mainly on increased net selling by local retail investors and weakened buying interests of foreign funds.
Consumer goods, industrials, insurance and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.21% lower at 10,354.62 points.
Domestic institutions continued to be net sellers but with lesser intensity on the market, whose key benchmark is however up 0.54% year-to-date.
Market capitalisation saw more than QR1bn or 0.25% decline to QR574.09bn mainly owing to microcap segments.
Islamic equities were seen declining slower than the other indices on the market, where non-Qatari individuals were increasingly bullish.
Trade turnover declined amidst higher volumes in the bourse, where consumer goods, banking and industrials sectors together accounted for more than 76% of the total volume.
The Total Return Index shed 0.21% to 19,053.38 points, All Share Index by 0.19% to 3,059.56 points and Al Rayan Islamic Index (Price) by 0.15% to 2,313.88 points.
The consumer goods index declined 0.97%, industrials (0.57%), insurance (0.36%), transport (0.28%), real estate (0.13%) and telecom (0.03%); while banks and financial services was up 0.08%.
More than 53% of the traded constituents were in the red with major losers being Qatari German Company for Medical Devices, QIIB, Islamic Holding Group, Woqod, Widam, Qatari Investors Group, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Ezdan, Ooredoo and Milaha; even as Qatar Islamic Bank, Ahlibank Qatar, Dlala, Medicare Group, Qatar Industrial Manufacturing, Qatar National Cement and Vodafone Qatar were among the gainers.
Local retail investors’ net selling increased influentially to QR6.57mn compared to QR0.95mn the previous day.
Non-Qatari institutions’ net buying weakened substantially to QR20.38mn against QR47.2mn on October 22.
However, non-Qatari individuals’ net buying strengthened considerably to QR8.67mn compared to QR5.12mn on Tuesday.
The Gulf institutions were net buyers to the extent of QR5.28mn against net sellers of QR0.37mn the previous day.
The Gulf individuals’ net profit booking declined noticeably to QR13.02mn compared to QR35.87mn on October 22.
Domestic institutions’ net selling contracted marginally to QR14.74mn against QR15.13mn on Tuesday.
Total trade volume rose 20% to 68.69mn shares, while value fell 21% to QR182.62mn and transactions by 17% to 4,451.
The consumer goods sector’s trade volume grew more than 11-fold to 18.22mn equities and value almost tripled to QR34.75mn on 86% increase in deals to 704.
The real estate sector reported 39% surge in trade volume to 7.9mn stocks but on 8% dip in value to QR8.37mn despite 65% higher transactions at 476.
The insurance sector’s trade volume soared 27% to 4.85mn shares and value by 26% to QR12.85mn, whereas deals shrank 30% to 292.
There was 6% jump in the industrials sector’s trade volume to 16.93mn equities but on 20% contraction in value to QR31.98mn and 5% in transactions to 1,087.
However, the telecom sector’s trade volume plummeted 40% to 2.44mn stocks, value by 47% to QR9.37mn and deals by 51% to 352.
The transport sector saw 36% plunge in trade volume to 1.03mn shares, 44% in value to QR3.78mn and 27% in transactions to 113.
The banks and financial services sector’s trade volume tanked 29% to 17.33mn equities, value by 39% to QR81.52mn and deals by 37% to 1,427.
In the debt market, there was no trading of treasury bills and sovereign bonds.
