The Qatar Stock Exchange on Wednesday fell below the 10,000 mark mainly due to local retail investors’ net profit booking.
The industrials, insurance, realty and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 84 points or 0.84% lower at 9,932.43 points.
The market was trading above the 10,000 levels for most part of the session but profit booking especially in the last leg pulled down the index, whose year-to-date losses were at 4.73%.
Market capitalisation saw more than QR6bn or 1.01% decline to QR588.37bn, mainly owing to large and midcap segments.
A total of 21,629 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR204,911 changed hands across six transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decrease in the bourse, whereas the banks and industrials sectors together accounted for more than 63% of the total trading volume.
The Total Return Index shrank 0.84% to 19,094.78 points, Al Rayan Islamic Index (Price) by 0.69% to 2,342.15 points and All Share Index by 0.73% to 3,076.92 points.
The industrial index tanked 1.84%, insurance (1.78%), real estate (1.7%), telecom (1.48%), consumer goods and services (0.41%) and banks and financial services (0.29%); while transport gained 0.35%.
More than 70% of the traded constituents were in the red with major losers being Industries Qatar, Ooredoo, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Insurance, Qamco, Al Khaleej Takaful, Mazaya Qatar, Ahlibank Qatar, Commercial Bank, Doha Bank, Barwa, Ezdan and Vodafone Qatar; even as Qatar First Bank, Salam International Investment, Gulf Warehousing and Qatar Electricity and Water were among the gainers.
Local individuals’ net selling increased significantly to QR17.45mn compared to QR5.28mn on October 6.
Foreign institutions’ net buying decreased substantially to QR16.19mn against QR26.67mn the previous day.
Foreign individuals’ net buying also fell markedly to QR0.3mn compared to QR5.45mn on Tuesday.
However, domestic funds turned net buyers to the extent of QR6.12mn against net sellers of QR9.9mn on October 6.
The Gulf institutions’ net buying grew noticeably to QR2.54mn compared to QR0.5mn the previous day.
The Arab individuals’ net selling declined strikingly to QR6.56mn against QR15.77mn on Tuesday.
The Gulf individuals’ net profit booking eased marginally to QR1.12mn compared to QR1.68mn on October 6.
The Arab funds had no major exposure against net profit takers to the tune of QR0.03mn the previous day.
Total trade volumes fell 14% to 437.95mn shares, value by 11% to QR745.88mn and transactions by 19% to 11,884.
The telecom sector’s trade volume plummeted 79% to 7.9mn equities, value by 65% to QR23.89mn and deals by 53% to 823.
The real estate sector reported 59% plunge in trade volume to 81.46mn stocks, 58% in value to QR140.94mn and 31% in transactions to 2,429.
The industrials sector’s trade volume tanked 13% to 120.24mn shares, value by 21% to QR109.48mn and deals by 38% to 2,162.
However, the transport sector’s trade volume more than doubled to 14.64mn equities and value also more than doubled to QR64.05mn on 69% jump in transactions to 1,080.
The banks and financial services sector’s trade volume soared 77% to 157.74mn stocks, value by 76% to QR343.17mn and deals by 15% to 3,845.
There was 53% surge in the consumer goods and services sector’s trade volume to 45.55mn shares but on 19% decline in value to QR42.97mn and 31% in transactions to 1,054.
The insurance sector’s trade volume expanded 43% to 10.42mn equities, value by 37% to QR21.38mn and deals by 27% to 491.
The market was trading above the 10,000 levels for most part of the session but profit booking especially in the last leg pulled down the index, whose year-to-date losses were at 4.73%.
Market capitalisation saw more than QR6bn or 1.01% decline to QR588.37bn, mainly owing to large and midcap segments.
A total of 21,629 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR204,911 changed hands across six transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decrease in the bourse, whereas the banks and industrials sectors together accounted for more than 63% of the total trading volume.
The Total Return Index shrank 0.84% to 19,094.78 points, Al Rayan Islamic Index (Price) by 0.69% to 2,342.15 points and All Share Index by 0.73% to 3,076.92 points.
The industrial index tanked 1.84%, insurance (1.78%), real estate (1.7%), telecom (1.48%), consumer goods and services (0.41%) and banks and financial services (0.29%); while transport gained 0.35%.
More than 70% of the traded constituents were in the red with major losers being Industries Qatar, Ooredoo, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Insurance, Qamco, Al Khaleej Takaful, Mazaya Qatar, Ahlibank Qatar, Commercial Bank, Doha Bank, Barwa, Ezdan and Vodafone Qatar; even as Qatar First Bank, Salam International Investment, Gulf Warehousing and Qatar Electricity and Water were among the gainers.
Local individuals’ net selling increased significantly to QR17.45mn compared to QR5.28mn on October 6.
Foreign institutions’ net buying decreased substantially to QR16.19mn against QR26.67mn the previous day.
Foreign individuals’ net buying also fell markedly to QR0.3mn compared to QR5.45mn on Tuesday.
However, domestic funds turned net buyers to the extent of QR6.12mn against net sellers of QR9.9mn on October 6.
The Gulf institutions’ net buying grew noticeably to QR2.54mn compared to QR0.5mn the previous day.
The Arab individuals’ net selling declined strikingly to QR6.56mn against QR15.77mn on Tuesday.
The Gulf individuals’ net profit booking eased marginally to QR1.12mn compared to QR1.68mn on October 6.
The Arab funds had no major exposure against net profit takers to the tune of QR0.03mn the previous day.
Total trade volumes fell 14% to 437.95mn shares, value by 11% to QR745.88mn and transactions by 19% to 11,884.
The telecom sector’s trade volume plummeted 79% to 7.9mn equities, value by 65% to QR23.89mn and deals by 53% to 823.
The real estate sector reported 59% plunge in trade volume to 81.46mn stocks, 58% in value to QR140.94mn and 31% in transactions to 2,429.
The industrials sector’s trade volume tanked 13% to 120.24mn shares, value by 21% to QR109.48mn and deals by 38% to 2,162.
However, the transport sector’s trade volume more than doubled to 14.64mn equities and value also more than doubled to QR64.05mn on 69% jump in transactions to 1,080.
The banks and financial services sector’s trade volume soared 77% to 157.74mn stocks, value by 76% to QR343.17mn and deals by 15% to 3,845.
There was 53% surge in the consumer goods and services sector’s trade volume to 45.55mn shares but on 19% decline in value to QR42.97mn and 31% in transactions to 1,054.
The insurance sector’s trade volume expanded 43% to 10.42mn equities, value by 37% to QR21.38mn and deals by 27% to 491.