The Qatar Stock Exchange on Wednesday snapped two days of bullish run to settle 35 points lower despite strong buying interests of foreign funds.
The Arab individuals’ increased net buying notwithstanding, the 20-stock Qatar Index settled 0.29% lower at 11,959.48 points, having touched an intraday high of 11,993 points.
An across the board selling – especially in the real estate and transport – dragged the market, whose year-to-date gains were at 14.6%.
The local retail investors were increasingly into net selling in the market, whose capitalisation saw about QR2bn or 0.27% decline to QR690.58bn on microcap segments.
The domestic funds continued to be net sellers but with lesser vigour in the bourse, where the industrials and banking sectors together constituted about 70% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where the foreign individuals were seen increasingly into net buying.
The Gulf individuals were also increasingly net buyers in the market, which saw a total of 57,199 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR593,659 trade across 10 deals.
The Total Return Index shed 0.29% to 23,674.52 points, All Share Index by 0.21% to 3,786.93 points and Al Rayan Islamic Index (Price) by 0.3% to 2,659.83 points in the market.
The real estate index declined 0.63%, transport (0.46%), industrials (0.27%), telecom (0.26%), insurance (0.2%), banks and financial services (0.14%) and consumer goods and services (0.1%).
More than 57% of the traded constituents in the main market were in the red with major losers being Qatari German Medical Devices, Ezdan, Medicare Group, QIIB, Nakilat, Alijarah Holding, Industries Qatar, Barwa, Qatar Insurance, Mazaya Qatar and Ooredoo. In the venture market, both Al Faleh Educational Holding and Mekdam Holding lost their sheen.
Nevertheless, Qatari Investors Group, Qatar General Insurance and Reinsurance, Mannai Corporation, Qatar First Bank, Qamco and Doha Insurance were among the gainers in the main market.
The Qatari individuals’ net selling increased substantially to QR97.45mn against QR30.22mn on November 16.
The Gulf institutions’ net profit booking rose markedly to QR3.1mn compared to QR1.64mn the previous day.
However, the foreign funds’ net buying grew significantly to QR102.79mn against QR59.04mn on Tuesday.
The Arab individuals’ net buying strengthened noticeably to QR11.1mn compared to QR1mn on November 16.
The foreign individuals’ net buying improved perceptibly to QR1.65mn against QR0.01mn the previous day.
The Gulf individuals’ net buying grew markedly to QR0.8mn compared to QR0.02mn on Tuesday.
The domestic funds’ net selling declined notably to QR15.81mn against QR28.2mn on November 16.
The Arab funds continued to have no major net exposure for the second consecutive day.
Total trade volume in the main market rose 6% to 117.6mn shares and value by 24% to QR399.96mn, while transactions fell 13% to 7,421.
The market witnessed 24% surge in the industrials sector’s trade volume to 47.06mn equities and 32% in value to QR102.92mn but on 8% fall in deals to 2,003.
The banks and financial services sector’s trade volume soared 22% to 35.02mn stocks and value by 53% to QR214.24mn, whereas transactions shrank 2% to 3,346.
There was 1% jump in the real estate sector’s trade volume to 14.6mn shares and 41% in value to QR26.93mn but on 1% shrinkage in deals to 485.
The telecom sector’s trade volume plummeted 68% to 0.99mn equities, value by 590% to QR5.05mn and transactions by 46% to 393.
The market witnessed 57% plunge in the transport sector’s trade volume to 3.22mn stocks, 44% in value to QR18.3mn and 39% in deals to 389.
The insurance’s sector’s trade volume tanked 48% to 0.46mn shares, value by 41% to QR1.73mn and transactions by 33% to 74.
The consumer goods and services sector saw 12% contraction in trade volume to 16.25mn equities, 25% in value to QR30.77mn and 25% in deals to 731.
In the venture market, volume, value and transactions were seen expanding 62.24%, 67.58% and 40.63% respectively.