Local and Arab individuals on Wednesday turned net buyers even as the Qatar Stock Exchange was in the negative trajectory.
Robust gains at the insurance counter notwithstanding, the 20-stock Qatar Index settled 83 points or 0.81% lower at 10,211.39 points, reflecting the sentiments on the global markets that were awaiting signals from the US Federal Reserve.
Six of the seven sectors were under selling pressure on the bourse, whose year-to-date losses were at 2.15%.
About 60% of the traded stocks were in the red on the market, whose capitalisation saw more than QR4bn or 0.76% decline to QR592.78bn, mainly owing to midcap segments.
The Islamic index was seen declining slower than the other indices on the bourse, where domestic funds turned net sellers.
Trade turnover and volumes were on the decline on the market, where the industrials, consumer goods and banking sectors together accounted for about 85% of the trading volume.
A total of 182,500 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.81mn changed hands across 18 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index declined 0.68% to 20,152.36 points, All Share Index by 0.59% to 3,236.24 points and Al Rayan Islamic Index (Price) by 0.2% to 2,364.07 points.
The transport sector index plunged 2.02%, telecom (1.4%), banks and financial services (0.74%), real estate (0.33%), industrials (0.26%) and consumer goods and services (0.12%); while insurance gained 1.45%.
Major losers included Milaha, Ahlibank Qatar, Mannai Corporation, Mesaieed Petrochemical Holding, Ooredoo, QNB, Qatar Islamic Bank, Inma Holding and Aamal Company; even as Doha Insurance, Qatar General Insurance and Reinsurance, Qamco, Qatar National Cement and Qatar Islamic Insurance were among the gainers.
The domestic funds turned net sellers to the tune of QR30.09mn compared with net buyers of QR20.32mn on March 16.
The foreign institutions were net profit takers to the extent of QR6.27mn against net buyers of QR42.14mn the previous day.
However, local retail investors turned net buyers to the tune of QR30.37mn compared with net sellers of QR39.23mn on Tuesday.
The Arab individuals turned net buyers to the extent of QR9.33mn against net sellers of QR6.18mn on March 16.
The foreign individuals’ net buying strengthened perceptibly to QR1.39mn compared to QR0.09mn the previous day.
The Gulf individuals’ net selling weakened significantly to QR3.85mn against QR11.96mn on Tuesday.
The Gulf institutions’ net profit booking eased notably to QR0.83mn compared to QR5.14mn on March 16.
The Arab funds had no major net exposure against net sellers to the extent of QR0.02mn the previous day.
Total trade volume fell 21% to 173.39mn shares and value by 10% to QR396.95mn, while transactions were up 10% to 10,702.
The transport sector reported 58% plunge in trade volume to 2.89mn equities, 70% in value to QR14.51mn and 32% in deals to 487.
The telecom sector’s trade volume plummeted 45% to 5.73mn stocks, value by 53% to QR20.24mn and transactions by 14% to 811.
The real estate sector saw 44% shrinkage in trade volume to 8.09mn shares and 39% in value to QR15.13mn but on 16% growth in in deals to 748.
The industrials sector’s trade volume tanked 24% to 91.62mn equities and value by 4% to QR127.52mn, whereas transactions were up 7% to 2,829.
The market witnessed 18% contraction in the consumer goods and services sector’s trade volume to 29.76mn stocks, 9% in value to QR59.76mn and 31% in deals to 1,132.
However, the insurance sector’s trade volume soared 63% to 10.02mn shares, value by 37% to QR24.97mn and transactions by 3% to 529.
The banks and financial services sector’s trade volume was up 1% to 25.28mn equities, value by 11% to QR134.82mn and deals by 59% to 4,166.
