The Qatar Stock Exchange on Wednesday saw Islamic equities make gains even as it settled marginally lower but remained above 11,100 points.
Local retail investors were seen net profit takers as the 20-stock Qatar Index settled 0.17% lower at 11,111.12 points, although it touched an intraday high of 11,143 points.
The transport, real estate and insurance counters witnessed higher than average selling pressure in the market, whose year-to-date gains were at 6.47%.
The Gulf institutions were also seen bearish, albeit at lower levels, in the bourse, whose capitalisation saw more than QR1bn or 0.33% decrease to QR640.86bn, mainly owing to midcap segments.
The foreign funds continued to be net buyers but with lesser intensity in the market, which saw the industrials and the consumer goods and services sectors together constituted about 77% of the total trading volume.
The overall trade turnover and volumes were on the decline in the market, where the foreign retail investors’ net profit booking was seen increasing.
The Arab individuals were seen bullish in the bourse, which saw a total of 91,042 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR268,724 changed hands across 27 deals.
The Total Return Index fell 0.17% to 21,995.12 points and All Share Index by 0.16% to 3,525.93 points, while Al Rayan Islamic Index (Price) rose 0.03% to 2,504.41 points in the market, which saw no trading of sovereign bonds and treasury bills.
The transport sector index shrank 0.72%, real estate (0.38%), insurance (0.19%), banks and financial services (0.15%) and industrials (0.13%); while consumer goods and services gained 0.11%. The telecom index remained flat.
About 57% of the traded constituents were in the red with major losers being Investment Holding Group, Ahlibank Qatar, Milaha, Ezdan, Alijarh Holding, Salam International Investment, Industries Qatar, Mazaya Qatar and Nakilat.
Nevertheless, Mesaieed Petrochemical Holding, Baladna, Qatar First Bank, Doha Insurance, Aamal Company, Qatar Oman Investment, Medicare Group and Widam Food were among the gainers.
Qatari individuals turned net sellers to the tune of QR31.85mn compared with net buyers of QR30.52mn on September 14.
The Gulf institutions were net sellers to the extent of QR1.13mn against net buyers of QR0.73mn the previous day.
Foreign funds’ net buying decreased perceptibly to QR24.06mn compared to QR27.06mn on Tuesday.
The foreign individuals’ net buying weakened notably to QR1.06mn against QR3.51mn on September 14.
However, the Arab individuals turned net buyers to the tune of QR9.77mn compared with sellers of QR0.46mn the previous day.
The domestic institutions’ net profit booking declined considerably to QR1.06mn against QR60.18mn on Tuesday.
The Gulf individuals’ net selling shrank noticeably to QR0.84mn compared to QR1.18mn on September 14.
The Arab funds continued to have no major net exposure for the second straight session.
Total trade volume fell 26% to 230.13n shares, value by 21% to QR534.55mn and transactions by 20% to 11,116.
The telecom sector reported 70% plunge in trade volume to 2.16mn equities, 71% in value to QR6.81mn and 63% in deals to 285.
The real estate sector’s trade volume plummeted 45% to 21.11mn stocks, value by 45% to QR30.84mn and transactions by 24% to 1,112.
The banks and financial services sector saw 38% shrinkage in trade volume to 29.62mn shares, 23% in value to QR114.86mn and 27% in deals to 2,813.
The industrials sector’s trade volume tanked 31% to 112.72mn equities, value by 32% to QR242.5mn and transactions by 28% to 4,063.
There was 12% contraction in the transport sector’s trade volume to 8.27mn stocks, 2% in value to QR31.26mn and 15% in deals to 697.
However, the consumer goods and services sector’s trade volume soared 34% to 53.72mn shares, value by 73% to QR101.26mn and transactions by 67% to 1,990.
The market witnessed 31% surge in the insurance sector’s trade volume to 2.53mn equities and 8% in value to QR7.02mn but on 28% decline in deals to 156.
In the venture market, Al Faleh Holding and Mekdam equities were seen gaining 0.85% and 5.27% respectively.
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