A higher-than-average selling pressure in the real estate, consumer goods, telecom and transport counters on Wednesday led the Qatar Stock Exchange to decline 39 points.
Local retail investors turned bearish and there was increased net selling by Gulf individuals as the 20-stock Qatar Index settled 0.4% lower at 9,811.57 points, although it touched a low of 9,788 points intraday.
Both foreign and Gulf funds continued to be net sellers, but with lesser vigour on the market, whose year-to-date losses were at 5.89%.
However, market capitalisation saw QR42mn or 0.07% jump to QR570.66bn, mainly owing to microcap segment.
A total of 981,609 exchange traded funds (both QATR and QETF) valued at QR2.29mn changed hands across 29 transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline on the bourse, where the industrials and realty sectors together accounted for about 74% of the total trading volume.
The Total Return Index was down 0.4% to 18,862.42 points, Al Rayan Islamic Index (Price) by 0.42% to 2,279.17 points and All Share Index by 0.3% to 3,036.28 points.
The real estate index shrank 1.35%, consumer goods and services (1.01%), telecom (0.78%), transport (0.74%), banks and financial services (0.33%) and insurance (0.05%); while industrials gained 0.51%.
About 61% of the traded constituents were in the red with major losers being Salam International Investment, Barwa, Qatari Investors Group, Al Khaliji, Dlala, Commercial Bank, Doha Bank, QIIB, Alijarah Holding, Woqod, Al Meera, Mazaya Qatar, Vodafone Qatar and Nakilat; even as Ezdan, Qatar Islamic Insurance, Qatar German Company for Medical Devices, Industries Qatar, Inma Holding and Qamco were among the gainers.
The Gulf individuals’ net selling increased notably to QR3.62mn compared to QR1.27mn the previous day.
Local individuals turned net sellers to the tune of QR0.65mn against net buyers of QR47.05mn on September 1.
However, domestic funds’ net buying increased significantly to QR54.4mn compared to QR22.49mn on Tuesday.
The Arab individuals’ net buying grew markedly to QR11.64mn against QR4.45mn the previous day.
Foreign individuals’ net buying shot up perceptibly to QR8.43mn compared to QR1.67mn on September 1.
Foreign funds’ net profit booking decreased influentially to QR36.52mn against QR39.81mn on Tuesday.
The Gulf funds’ net selling decreased marginally to QR33.67mn compared to QR34.57mn the previous day.
The Arab funds had no major exposure against net buyers to the extent of QR0.09mn on September 1.
Total trade volumes fell 33% to 376.78mn shares, value by 25% to QR593.87mn and transactions by 14% to 12,247.
The banks and financial services sector’s trade volume plummeted 56% to 35.28 equities, value by 45% to QR125.64mn and deals by 25% to 2,709.
There was a 56% plunge in the telecom sector’s trade volume to 7.13mn stocks, 50% in value to QR19.68mn and 25% in transactions to 910.
The industrials sector’s trade volume tanked 42% to 165.12mn shares, value by 30% to QR170.86mn and deals by 13% to 3,809.
The consumer goods and services sector saw 33% shrinkage in trade volume to 45.08mn equities but on less than 1% jump in value to QR73.68mn and 5% in transactions to 1,534.
The insurance sector’s trade volume was down 11% to 1.76mn stocks, value by 6% to QR3.39mn and deals by 4% to 90.
However, the transport sector reported 20% surge in trade volume to 9.99mn shares, 15% in value to QR29.09mn and 13% in transactions to 723.
The real estate sector’s trade volume rose 5% to 112.41mn equities, while value shrank 5% to QR171.54mn and deals by 16% to 2,472.
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