The Qatar Stock Exchange on Wednesday was back in the negative turf, mainly owing to increased selling pressure from local retail investors.
Consumer goods, industrials and insurance counters witnessed higher than average profit booking as the 20-stock Qatar Index settled 0.13% lower at 9,246.55 points, although it touched a low of 9,125 points, almost 45 minutes before the closing.
Non-Qatari individuals were seen bearish on the market, which is down 11.31% year-to-date.
Market capitalisation however saw more than QR2bn or 0.46% growth to QR515.26bn mainly owing to large cap segments.
Islamic stocks were seen declining faster than the main barometer on the bourse, where domestic institutions were increasingly net buyers and foreign funds turned bullish.
Trade turnover and volumes were on the decline on the bourse, where realty and consumer goods sectors together accounted for more than 52% of the total trading volume.
The Total Return Index fell 0.05% to 17,317.12 points and Al Rayan Islamic Index (Price) by 1.33% to 1,971.92 points, while All Share Index rose 0.34% to 2,816.23 points.
The consumer goods index tanked 3.62%, industrials (1.39%), insurance (1.02%), telecom (0.61%) and real estate (0.02%); while banks and financial services gained 1.57% and transport 0.06%.
About 69% of the traded constituents were in the red with major losers being Industries Qatar, Gulf International Services, Qatari Investors Group, Salam International Investment, Woqod, Baladna, United Development Company, Mazaya Qatar, Ezdan, Al Khaleej Takaful, Doha Insurance, al khaliji, Qatar First Bank and Qatar Oman Investment; even as QNB, Commercial Bank, QIIB, Dlala, Barwa, Gulf Warehousing, Milaha and Zad Holding were among the gainers.
Local retail investors’ net selling increased substantially to QR42.79mn compared to QR6.14mn on March 3.
Non-Qatari individuals turned net sellers to the tune of QR2.08mn against net buyers of QR4.68mn the previous day.
However, domestic institutions’ net buying grew significantly to QR42.46mn compared to QR34.91mn on Tuesday.
Non-Qatari funds were net buyers to the extent of QR10.67mn against net sellers of QR7.95mn on March 3.
The Gulf individuals were net buyers to the tune of QR0.66mn compared with net sellers of QR1.72mn the previous day.
The Gulf funds’ net profit booking weakened considerably to QR9mn against QR23.75mn on Tuesday.
Total trade volumes fell 10% to 86.8mn shares, value by 12% to QR253.51mn and transactions by 16% to 6,626.
The banks and financial services sector saw 47% plunge in trade volume to 12.29mn equities, 50% in value to QR68.91mn and 47% in deals to 1,405.
The transport sector’s trade volume plummeted 33% to 1.51mn stocks, value by 50% QR3.77mn and transactions by 12% to 158.
The industrials sector reported 30% shrinkage in trade volume to 14.89mn shares, 19% in value to QR43.98mn and 41% in deals to 1,144.
The real estate sector’s trade volume tanked 12% to 25.58mn equities, value by 19% to QR22.21mn and transactions by 14% to 887.
There was 10% decline in the telecom sector’s trade volume to 4.37mn stocks and 5% in value to QR22mn but on 40% jump in deals to 1,389.
However, the consumer goods sector’s trade volume more than doubled to 19.85mn shares and value more than tripled to QR74.63mn on 61% increase in transactions to 1,169.
The insurance sector saw 25% surge in trade volume to 8.31mn equities, 30% in value to QR18.01mn and 35% in deals to 474.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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