Masraf Al Rayan and Al Khaliji, which received the financial regulator’s nod for merger, Wednesday made modest gains on the Qatar Stock Exchange, which otherwise entered the second day of a bearish run.
The bullish outlook of retail investors and Gulf institutions’ increased net buying notwithstanding, the 20-stock Qatar Index settled 11 points or 0.1% lower at 10,782.18 points, having touched an intraday high of 10,802 points.
Foreign institutions continued to be net buyers, but with lesser vigour on the market, whose year-to-date gains were contained at 3.32%.
The telecom, transport, banking and industrials counters witnessed higher than average selling pressure on the bourse, whose capitalisation saw about QR2bn or 0.25% decrease to QR627.07n, mainly owing to small and microcap segments.
More than 57% of the traded constituents were in the red on the market, which saw the industrials and banking sectors together constituted more than 57% of the total trading volume.
The overall trade turnover and volumes were on the increase on the bourse, where the Islamic equities were seen declining slower than the other indices.
The Arab funds continued to have no major net exposure in the market, which saw a total of 407,181 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.85mn changed hands across 42 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.1% to 21,343.97 points, All Share Index by 0.22% to 3,422.6 points and Al Rayan Islamic Index (Price) by 0.09% to 2,493.67 points.
The telecom sector index shrank 0.81%, transport (0.52%), banks and financial services (0.27%) and industrials (0.19%); while consumer goods and services gained 0.26% and real estate (0.12%). The insurance index treaded a flat course.
Major losers included Vodafone Qatar, Doha Bank, Qatar General Insurance and Reinsurance, Investment Holding Group, Qamco, Qatar National Cement, Gulf International Services and Milaha; even as Al Khaleej Takaful, Qatari Investors Group, Mannai Corporation, Zad Holding, Medicare Group, Al Khaliji and Masraf Al Rayan were among the gainers.
The domestic funds’ net selling increased substantially to QR41.83mn against QR20.34mn on June 15.
Foreign funds’ net buying decreased markedly to QR21.03mn compared to QR28.07mn the previous day.
However, the Gulf funds’ net buying increased noticeably to QR8.93mn against QR6.3mn on Tuesday.
The Arab individuals were net buyers to the extent of QR4.57mn compared with net seller of QR1.69mn on June 15.
The foreign individuals turned net buyers to the tune of QR3.79mn against net sellers of QR3.28mn the previous day.
Qatari individuals were net buyers to the extent of QR2.75mn compared with net sellers of QR9.02mn on Tuesday.
The Gulf individuals turned net buyers to the tune of QR0.76mn against net profit takers of QR0.05mn on June 15.
Total trade volume rose 85% to 154.19mn shares, value by 98% to QR416.75mn and transactions by 50% to 10,202.
The insurance sector’s trade volume grew more than seven-fold to 5.55mn equities and value also by more than seven-fold to QR23.87mn on almost quadrupled deals to 522.
The telecom sector’s trade volume more than tripled to 9.93mn stocks and value also more than tripled to QR44.27mn on almost doubled transactions to 1,232.
The industrials sector’s trade volume more than doubled to 53.68mn shares and value also more than doubled to QR129.09mn on 64% jump in deals to 2,810.
The banks and financial services sector’s trade volume more than doubled to 34.45mn equities and value also more than doubled to QR139.06mn on 63% expansion in transactions to 3,567.
The market witnessed 54% surge in the consumer goods and services sector’s trade volume to 26.11mn stocks, 46% in value to QR37.45mn and 6% in deals to 877.
The transport sector’s trade volume shot up 40% to 2.97mn shares, value by 57% to QR11.4mn and transactions by 5% to 436.
There was 14% jump in the real estate sector’s trade volume to 21.49mn equities and 12% in value to QR31.6mn but on 16% shrinkage in deals to 758.