The Qatar Stock Exchange yesterday witnessed strong buying interests from foreign funds; yet its key barometer declined about 14 points.
The industrials, consumer goods, real estate and insurance counters experienced higher than average selling pressure as the 20-stock Qatar Index settled 0.13% lower at 10,680.64 points, amidst weakened trading activities.
The Gulf funds were seen bearish and there was also increased net selling from the Gulf individuals on the market, which is however up 2.45% year-to-date. Market capitalisation saw QR56mn or 0.09% decline to QR593.76bn mainly owing to microcap segments.
Islamic stocks were seen declining faster than the other indices on the bourse, where local retail investors continued to be net sellers but with lesser intensity.
Trade turnover and volumes were on the decline on the bourse, where banking and realty sectors together accounted for more than 66% of the total volume.
The Total Return Index shed 0.13% to 19,653.28 points, All Share Index by 0.06% to 3,169.82 points and Al Rayan Islamic Index (Price) by 0.21% to 2,354.95 points.
The industrials index declined 0.71%, consumer goods (0.52%), real estate (0.22%) and insurance (0.18%); while banks and financial services gained 0.23%, telecom (0.09%) and transport (0.06%).
More than 53% of the traded constituents were in the red with major losers being Qatari Investors Group, Qatar Electricity and Water, Qatar Industrial Manufacturing, Doha Insurance, Doha Bank and Alijarah Holding; even as Mazaya Qatar, Vodafone Qatar, QNB, Qatar Islamic Bank, Qatar First Bank, Qatari German Company for Medical Devices and Qatar General Insurance and Reinsurance were among the gainers.
The Gulf individuals’ net profit booking expanded considerably to QR6.96mn compared to QR0.44mn on January 21.
The Gulf institutions turned net sellers to the tune of QR4.17mn against net buyers of QR0.41mn the previous day.
Domestic institutions’ net buying declined significantly to QR12.2mn compared to QR55.18mn on Tuesday.
However, non-Qatari funds were net buyers to the extent of QR31.15mn against net sellers of QR8.97mn on January 21.
Local retail investors’ net selling weakened substantially to QR29.25mn compared to QR42.86mn the previous day.
Non-Qatari individuals’ net profit booking shrank marginally to QR2.12mn against QR3.33mn on Tuesday.
Total trade volumes fell 39% to 86.2mn shares, value by 12% to QR241.13mnm and transactions by 13% to 4,221.
The banks and financial services sector saw 53% plunge in trade volume to 34.79mn equities, 14% in value to QR153.58mn and 23% in deals to 1,676.
The real estate sector’s trade volume plummeted 46% to 22.13mn stocks, value by 40% to QR21.71mn and transactions by 25% to 612.
The consumer goods sector reported 15% shrinkage in trade volume to 6.34mn shares but on 72% increase in value to QR22.81mn and 57% in deals to 628.
However, the insurance sector’s trade volume more than doubled to 0.93mn equities and value also more than doubled to QR1.83mn and doubled transactions to 108.
There was 39% surge in the industrials sector’s trade volume to 14.29mn stocks, 41% in value to QR23.87mn and 1% in deals to 745.
The telecom sector’s trade volume expanded 9% to 3.82mn shares, whereas value tanked 50% to QR6.7mn and transactions by 51% to 259.
The transport sector witnessed 6% jump in trade volume to 3.9mn equities but on 14% contraction in value to QR10.64mn despite 36% higher deals at 193.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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