The retail investors’ strong buying was completely masked by foreign funds’ profit booking that the Qatar Stock Exchange on Wednesday settled below 9,900 levels.
The realty, industrials and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.1% lower at 9,898.93 points, although it touched a low of 9,873 points intraday.
The domestic funds were also seen bearish in the market, whose year-to-date losses were at 5.05%.
Market capitalisation saw QR79mn or 0.14% decline to QR574.51bn, mainly owing to microcap segments.
A total of 59,630 exchange traded funds (both QATR and QETF) valued at QR284,386 changed hands across 13 transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline in the market, where the banks, realty and industrials sectors together accounted for about 79% of the total trading volume.
The Total Return Index was down 0.1% to 19,030.37 points, All Share Index by 0.05% to 3,067.46 points and Al Rayan Islamic Index (Price) by 0.19% to 2,276.16 points.
The realty index shrank 0.57%, industrials (0.41%), telecom (0.36%), transport (0.17%), consumer goods and services (0.15%) and insurance (0.05%); while banks and financial services gained 0.16%.
More than 65% of the traded constituents were in the red with major losers being Ezdan, Qatar First Bank, Doha Bank, Baladna, Qamco, Vodafone Qatar, Qatari Investors Group, Doha Insurance, Dlala, Mannai Corporation and Al Khaleej Takaful; even as Inma Holding, Mazaya Qatar, Masraf Al Rayan and Mesaieed Petrochemical Holding were among the gainers.
Foreign institutions’ net selling increased substantially to QR26.65mn compared to QR0.44mn on Augusts 25.
Domestic institutions turned net sellers to the tune of QR5.63mn against net buyers of QR36.88mn the previous day.
However, local individuals were net buyers to the extent of QR16.33mn compared with net sellers of QR26.85mn on Tuesday.
Foreign individuals’ net buying increased significantly to QR8.38mn against QR0.33mn on August 25.
The Gulf institutions’ net buying grew perceptibly to QR4.17mn compared to QR3.98mn the previous day.
The Gulf individuals were net buyers to the tune of tune of QR2.28mn against net sellers of QR2.36mn on Tuesday.
The Arab individuals turned net buyers to the extent of QR1.07mn compared with net sellers of QR11.56mn on August 25.
The Arab institutions continued to have no major exposure.
Total trade volumes fell 36% to 218.22mn shares, value by 22% to QR429.76mn and transactions by 33% to 8,811.
The real estate sector reported 49% plunge in trade volume to 41.23mn equities, 55% in value to QR56.97mn and 47% in deals to 1,4130.
The insurance sector’s trade volume plummeted 42% to 7.61mn stocks, value by 40% to QR15.69mn and transactions by 47% to 256.
The industrials sector saw 41% shrinkage in trade volume to 78.14mn shares, 51% in value to QR65.74mn and 46% in deals to 1,885.
The consumer goods and services sector’s trade volume tanked 36% to 27.05mn equities, value by 37% to QR58.8mn and transactions by 11% to 1,253.
The banks and financial services sector witnessed 18% contraction in trade volume to 52.69mn stocks but on 42% jump in value to QR189.69mn despite 17% lower deals at 3,084.
However, the telecom sector’s trade volume almost doubled to 4.25mn shares, whereas value was down 1% to QR9.68mn and transactions by 58% to 320.
There was 26% surge in the transport sector’s trade volume to 8.25mn equities and 37% in value to QR33.19mn but on 18% decrease in deals to 600.
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