Foreign funds were on Wednesday increasingly net buyers on the Qatar Stock Exchange, which otherwise settled in the negative trajectory, a day after the Gulf imbroglio came to an end.
The insurance, realty and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 39 points, or 0.36%, lower at 10,579.66 points, after touching an intraday high of 10.638 points.
More than 63% of the traded constituents were in the red on the market, which is up 1.38% year-to-date.
The domestic funds were increasingly into profit booking and the Arab individuals turned bearish on the bourse, whose capitalisation was down more than QR1bn or 0.18% to QR612.46bn, mainly on midcap segments.
Trade turnover and volumes were on the decline on the market, where as the banking and industrials sectors together accounted for more than 47% of the total trading volume.
Islamic equities were seen declining faster than the other indices on the bourse, which saw local retail investors continue to be net sellers but with lesser intensity.
A total of 11,899 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR33,755 changed hands across four deals; while on the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.36% to 20,339.05 points, Al Rayan Islamic Index (Price) by 0.52% to 2,410.64 points and All Share Index by 0.22% to 3,252.72 points.
The insurance index tanked 2.24%, real estate (1.61%), transport (0.74%), consumer goods and services (0.3%) and banks and financial services (0.08%); while telecom and industrials gained 1.44% and 0.04% respectively.
Major decliners included Qatar Insurance, United Development Company, Dlala, Salam International Investment, Inma Holding, Qatar First Bank, Qatari German Medial Devices, Baladna, Al Meera, Mannai Corporation, Qatari Investors Group, Qatar Electricity and Water, Ezdan and Nakilat; even as Al Khaliji, Qatar General Insurance and Reinsurance, Ooredoo and Milaha were among the gainers.
The domestic institutions’ net selling increased substantially to QR49.42mn against QR11.83mn on January 5.
The Arab individuals were net sellers to the tune of QR3.45mn compared with net buyers of QR26.37mn on Tuesday.
The Gulf institutions turned net sellers to the extent of QR1.36mn against net buyers of QR8.98mn the previous day.
The foreign individuals’ net buying declined considerably to QR0.51mn compared to QR3.88mn on January 5.
The Gulf individuals’ net buying weakened markedly to QR0.38mn against QR1.68mn on Tuesday.
However, the foreign funds’ net buying shot up significantly to QR105.15mn compared to QR79.1mn the previous day.
Local retail investors’ net selling weakened noticeably to QR51.94mn against QR107.41mn on January 5.
The Arab funds had no major exposure compared with net profit takers to the extent of QR0.84mn on Tuesday.
Total trade volume fell 58% to 155.87mn shares, value by 34% to QR426.4mn and transactions by 30% to 8,461.
The industrials sector’s trade volume plummeted 77% to 44.31mn equities, value by 62% to QR60.86mn and deals by 46% to 1,499.
The insurance sector reported 63% plunge in trade volume to 2.43mn stocks, 61% in value to QR6.34mn and 43% in transactions to 163.
The consumer goods and services sector’s trade volume tanked 62% to 21.64mn shares, value by 61% to QR36.15mn and deals by 49% to 795.
There was 41% shrinkage in the realty sector’s trade volume to 26.77mn equities, 45% in value to QR42.57mn and 39% in transactions to 995.
The transport sector’s trade volume shrank 34% to 9.3mn stocks, value by 19% to QR47.87mn and deals by 52% to 661.
The telecom sector saw 25% contraction in trade volume to 4.57mn shares and 9% in value to QR21.11mn but on 2% increase in transactions to 780.
The banks and financial services sector’s trade volume was up less than 1% to 46.84mn equities, whereas value was down 3% to QR211.5mn and deals by 4% to 3,568.