The Qatar Stock Exchange on Wednesday witnessed strong gains in the insurance and consumer goods counters but overall it settled lower to remain at sub-10,200 levels.
Foreign institutions’ increased selling pressure led the 20-stock Qatar Index decline 0.19% or more than 19 points to 10,171.39 points.
The weakened buying interests of local, non-Qatari and Gulf retail investors also had its role in dampening the sentiments in the market, whose key benchmark is down 1.24% year-to-date.
Market capitalisation, however, saw mere QR10mn or 0.02% rise to QR563.19bn mainly owing to microcap segments.
Islamic stocks were seen falling faster than the conventional ones in the market, where the Gulf funds continued to be net buyers but with lesser intensity, even as domestic funds turned bullish.
Trade turnover and volumes were on the decline in the bourse, where banking and industrials sectors together accounted for more than 68% of the total volume.
The Total Return Index shed 0.19% to 18,716.22 points, All Share Index by 0.04% to 3,004.45 points and Al Rayan Islamic Index (Price) by 0.26% to 2,291.93 points.
The transport index declined 0.44%, telecom (0.4%), real estate (0.31%), industrials (0.17%) and banks and financial services (0.09%); whereas consumer goods and insurance gained 0.87% and 0.54% respectively.
Major losers included QIIB, Qatar Oman Investment, Qatar First Bank, Qatar Industrial Manufacturing, Al Khaleej Takaful, Barwa, Vodafone Qatar, Milaha and Nakilat; even as QNB, Alijarah Holding, Islamic Holding Group, Widam Food, Al Meera, Qatari Investors Group and Qatar General Insurance and Reinsurance were among the gainers.
Non-Qatari institutions’ net selling increased significantly to QR67.09mn compared to QR3.76mn on November 26.
Local retail investors’ net buying declined considerably to QR3.98mn against QR15.31mn the previous day.
Non-Qatari individuals’ net buying shrank substantially to QR0.69mn compared to QR11.14mn on Tuesday.
The Gulf institutions’ net buying also weakened perceptibly to QR2.75mn against QR4.18mn on November 26.
The Gulf individual investors’ net buying fell marginally to QR0.4mn compared to QR0.97mn the previous day.
However, domestic institutions turned net buyers to the tune of QR59.28mn against net profit takers of QR27.99mn on Tuesday.
Total trade volume fell 67% to 60.32mn shares, value by 79% to QR286.1mn and transactions by 10% to 9,883.
The banks and financial services sector saw 79% plunge in trade volume to 24.81mn equities and 83% in value to 184.9mn but on 4% jump in deals to 6,126.
The real estate sector’s trade volume plummeted 66% to 6.07mn stocks, value by 72% to QR10.74mn and transactions by 10% to 532.
The industrials sector reported 49% shrinkage in trade volume to 16.21mn shares, 78% in value to QR28.78mn and 37% in deals to 1,316.
The consumer goods sector’s trade volume tanked 39% to 2.5mn equities, value by 68% to QR19.38mn and transactions by 40% to 534.
There was 35% contraction in the insurance sector’s trade volume to 2.9mn stocks, 66% in value to QR4.54mn and 55% in deals to 129.
The telecom sector’s trade volume shrank 21% to 5.08mn shares and value by 23% to QR27.97mn, while transactions were up 1% to 1,079.
However, the market witnessed 30% surge in the transport sector’s trade volume to 2.76mn equities, 30% in value to QR9.78mn and 8% in deals to 167.
In the debt market, there was no trading of treasury bills and sovereign bonds.