The Qatar Stock Exchange on Wednesday lost about 30 points, mainly dragged by the Arab individuals. The real estate and industrials counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.3% lower at 9,823.58 points, although it touched an intraday low of 9,764 points.
Foreign funds’ substantially weakened net buying interests also had its role in dampening the market, whose year-to-date losses were at 5.77%.
More than 64% of the traded stocks were in the red in the bourse, where Islamic stocks were seen declining faster than the other indices.
Market capitalisation saw more than QR4bn or 0.71% erosion to QR573.66bn, mainly owing to mid and small cap segments.
A total of 30,000 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR289,877 changed hands across three deals; 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 bourse, where the industrials and banking sectors together accounted for more than 60% of the total trading volume.
The Total Return Index fell 0.3% to 18,885.51 points, Al Rayan Islamic Index (Price) by 0.74% to 2,263.92 points and All Share Index by 0.19% to 3,040.32 points.
The realty index plummeted 3.66%, industrials (0.97%) and telecom (0.28%); while transport gained 0.61%, insurance (0.28%), banks and financial services (0.24%) and consumer goods and services (0.2%).
Major losers included Dlala, Qatari German Medical Devices, Ezdan, Inma Holding, Aamal Company, Qatar First Bank, Salam International Investment, Baladna, Mannai Corporation, Qatar Industrial Manufacturing, Industries Qatar, Qamco, United Development Company, Barwa and Mazaya Qatar.
Nevertheless, al khaliji, Qatar General Insurance and Reinsurance, Medicare Group, Doha Bank, Masraf Al Rayan, Commercial Bank and Milaha were among the gainers.
The Arab individuals’ net selling increased significantly to QR7.01mn compared to QR0.04mn on October 27.
The Arab funds were net sellers to the tune of QR0.38mn against net buyers of QR0.004mn the previous day.
Foreign institutions’ net buying declined substantially to QR5.93mn compared to QR35.03mn on Tuesday.
The Gulf individuals’ net buying eased marginally to QR0.42mn against QR0.58mn on October 27.
However, domestic funds’ net buying increased noticeably to QR15.51mn compared to QR8mn the previous day.
The Gulf funds turned net buyers to the extent of QR2.46mn against net sellers of QR3.78mn on Tuesday.
Foreign individuals were net buyers to the tune of QR1.56mn compared with net sellers of QR3.15mn on October 27.
Local individuals’ net profit booking eased markedly to QR18.46mn against QR36.65mn the previous day.
Total trade volumes fell 2% to 196.12mn shares, value by 23% to QR346.96mn and transactions by 3% to 8,905.
The telecom sector’s trade volume plummeted 38% to 5.62mn equities and value by 8% to QR18.43mn, while deals more than doubled to 1,547.
The consumer goods and services sector reported 37% plunge in trade volume to 35.12mn stocks, 44% in value to QR40.19mn and 36% in transactions to 959.
The insurance sector’s trade volume tanked 30% to 3.19mn shares, value by 33% to QR6.45mn and deals by 18% to 150.
There was 8% shrinkage in the real estate sector’s trade volume to 28.7mn equities but on 1% rise in value to QR52.46mn despite 16% lower transactions at 1,073.
The banks and financial services sector’s trade volume was down 1% to 44.6mn stocks, value by 29% to Q149.29mn and deals by 14% to 2,965.
However, the market witnessed 45% surge in the industrials sector’s trade volume to 73.85mn shares, while value was down 9% to QR64.46mn despite 8% higher transactions at 1,732.
The transport sector’s trade volume was up 3% to 5.04mn equities, value by 1% to QR15.68mn and deals by 3% to 479.
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