Local retail investors on Wednesday turned bullish on the Qatar Stock Exchange, which other remained in the negative, but pared the loss.
The Islamic equities were seen in high demand even as the 20-stock Qatar Index settled 19 points or 0.19% lower at 10,044.45 points, having touched an intraday high of 10,117 points.
The telecom, transport and banking counters witnessed higher-than-average selling pressure on the bourse, whose year-to-date losses widened to 3.75%.
Foreign funds were increasingly net profit takers and the foreign individuals turned bearish on the market, whose capitalisation saw QR87mn or 0.15% decrease to QR582.45bn, mainly owing to microcap segments.
The domestic funds continued to be net buyers but with lesser intensity on the bourse, which saw four of the seven sectors under buying spotlight.
Trade turnover rose amidst lower volumes in the market, where the industrials and banking sectors together accounted for more than 66% of the trading volume.
A total of 55,650 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR138,478 changed hands across six deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.03% to 19,626.34 points and All Share Index by 0.06% to 3,140.42 points, while Al Rayan Islamic Index (Price) was up 0.16% to 2,320.81 points.
The telecom sector index shrank 1.05%, transport (0.73%) and banks and financial services (0.45%); whereas industrials gained 0.84%, insurance (0.58%), consumer goods and services (0.54%) and real estate (0.42%).
Major losers included QLM, Nakilat, Gulf International Services, Qatar General Insurance and Reinsurance and Ooredoo; while Investment Holding Group, Qatari German Medical Devices, Al Khaleej Takaful, Medicare Group, Industries Qatar, Al Khaliji, Qamco and United Development Company were among the gainers.
The foreign funds’ net profit booking increased substantially to QR49.44mn against QR9.46mn on March 2.
The foreign individuals turned net sellers to the tune of QR2.71mn compared with net buyers of QR5.02mn on Tuesday.
The Arab individuals’ net selling strengthened marginally to QR1.54mn against QR1.37mn the previous day.
The domestic funds’ net buying declined markedly to QR9.83mn compared to QR13.95mn on March 2.
The Gulf institutions’ net buying weakened notably to QR13.29mn against QR16.28mn on Tuesday.
However, Qataris were net buyers to the extent of QR28.55mn compared with net sellers of QR24.47mn the previous day.
The Gulf individuals’ net buying increased perceptibly to QR1.59mn against QR0.11mn on March 2.
The Arab institutions turned net buyers to the tune of QR0.4mn compared with net sellers of QR0.04mn on Tuesday.
Total trade volume fell 18% to 194.78mn shares, while value rose 1% to QR531.62mn despite 5% lower transactions at 12,031.
The insurance sector’s trade volume plummeted 33% to 9.72mn equities, value by 51% to QR33.25mn and deals by 12% to 869.
The banks and financial services sector saw 31% plunge in trade volume to 32.32mn stocks but on 3% jump in value to QR199.16mn despite 5% lower transactions at 3,779.
The industrials sector’s trade volume tanked 21% to 96.65mn shares, value by 6% to QR127.68mn and deals by 13% to 2,908.
There was 20% shrinkage in the consumer goods and services sector’s trade volume to 21.92mn equities but on 23% expansion in value to QR77.13mn despite 16% lower transactions at 1,636.
However, the transport sector’s trade volume soared 69% to 8.65mn stocks, value by 56% to QR32.82mn and deals by 16% to 700.
The telecom sector reported 57% surge in trade volume to 4.67mn shares, 78% in value to QR25.23mn and 33% in transactions to 982.
The realty sector’s trade volume expanded 13% to 19.85mn equities, value by 9% to QR36.35mn and deals by 14% to 1,157.
