The Qatar Stock Exchange on Wednesday witnessed minor correction despite buying interests in the transport, real estate and insurance counters.
Notwithstanding the demand for transport, real estate and insurance sectors, the 20-stock Qatar Index fell about 54 points or 0.39% to 13,628.87 points, although it touched an intraday high of 13,793 points.
The Islamic index was seen declining faster than the other indices in the market, whose year-to-date gains shot up to 17.23%.
The foreign institutions’ weakened net buying had its strong influence in the bourse, whose capitalisation saw QR3bn or 0.39% decrease to QR770.52bn, mainly on the back of mid and microcap segments.
The net selling pressure of the domestic funds and the local retail investors was seen weakening in the market, where the industrials and consumer goods sectors together accounted for more than 67% of the trading volume.
The foreign individuals turned net buyers in the bourse, which saw a total of 71,230 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR915,779 changed hands across 20 deals.
The Gulf funds continued to be net buyers but with lesser intensity in the market, which saw no trading of sovereign bonds.
Total trade turnover declined amidst higher volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index fell 0.29% to 27,618.09 points, All Share Index by 0.24% to 4,326.79 points and Al Rayan Islamic Index (Price) by 0.57% to 2,979.63 points.
The industrials sector index shed 0.54%, consumer goods and services (0.34%), banks and financial services (0.3%) and telecom (0.1%); while transport gained 1.02%, real estate (0.44%) and insurance (0.22%).
Major losers in the main market included Ooredoo, Gulf International Services, Qatar Islamic Bank, Industries Qatar, Medicare Group and Ezdan. In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Investment Holding Group, Qatar National Cement, QIIB, Ezdan, Qatari German Medical Devices, Medicare Group, Baladna, Qatar Industrial Manufacturing, Mesaieed Petrochemical Holding, Nakilat and Gulf Warehousing were among the gainers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares appreciate in value.
The foreign institutions’ net buying decreased drastically to QR117.06mn against QR303.2mn on March 8.
The Gulf institutions’ net buying reduced markedly to QR68.42mn compared to QR83.94mn the previous day.
However, the Arab individuals turned net buyers to the tune of QR22.66mn against net sellers of QR19.1mn on Tuesday.
The foreign individuals were net buyers to the extent of QR5.02mn compared with net sellers of QR8.18mn on March 8.
The Gulf individuals turned net buyers to the tune of QR0.94mn against net sellers of QR6.63mn the previous day.
Qatari individuals’ net selling declined considerably to QR149.51mn compared to QR205.67mn on Tuesday.
The domestic funds’ net selling weakened significantly to QR65.2mn against QR149.89mn on March 8.
The Arab institutions had no major net exposure compared with net buyers of QR2.35mn the previous day.
Total trade volume in the main market rose 26% to 516.92mn shares, while value fell 7% to QR1.42bn and transactions by 14% to 21,518.
The consumer goods and services sector’s trade volume quadrupled to 169.45mn equities and value almost tripled to QR211.11mn on 69% increase in deals to 3,018.
The insurance sector’s trade volume more than tripled to 19.34mn stocks and value more than tripled to QR49.35mn on 33% jump in transactions to 284.
The banks and financial services sector’s trade volume almost doubled to 87.39mn shares and value grew 6% to QR468.84mn but on 20% decline in deals to 7,459.
There was 30% surge in the real estate sector’s trade volume to 50.94mn equities, 26% in value to QR92.69mn and 21% in transactions to 2,123.
However, the industrials sector’s trade volume plummeted 33% to 177.61mn stocks, 36% in value to QR555.71mn and 29% in deals to 7,549.
The transport sector reported 12% shrinkage in trade volume to 6.26mn shares, 9% in value to QR26.66mn and 20% in transactions to 639.
The telecom sector’s trade volume was down 1% to 5.92mn equities, whereas value expanded 3% to QR17.65mn despite 27% lower deals at 446.
The venture market saw 38.71% contraction in trade volumes to 0.19mn stocks, 44.51% in value to QR1.97mn and 43.4% in transactions to 60.
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