The Qatar Stock Exchange on Wednesday witnessed strong buying interests from institutions yet it settled marginally lower and a tad below 10,300 levels, even as capitalisation was on the rise.
The insurance, industrials and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.05% lower at 10,295.25 points, after gaining for three consecutive sessions.
However, local retail investors were increasingly profit takers in the market, whose key benchmark was down 0.04% year-to-date.
Market capitalisation saw more than QR1bn, or 0.22%, increase to QR568.43bn mainly owing to microcap segments.
Islamic equities were seen making gains vis-à-vis decline in the main index in the market, where non-Qatari individuals turned bearish.
Trade turnover rose amidst lower volumes in the bourse, where the banking, real estate and banking sectors together accounted for more than 76% of the total volume.
The Total Return Index was down 0.05% to 18,944.14 points and the All Share Index by 0.1% to 3,020.17 points, while the Al Rayan Islamic Index (Price) rose 0.05% to 2,326.5 points.
The insurance index shrank 2.25%, industrials (0.59%) and realty (0.43%); whereas telecom gained 1.58%, transport (0.84%), banks and financial services (0.37%) and consumer goods (0.36%).
Major losers included Qatar Insurance, Qatar Electricity and Water, Industries Qatar, Commercial Bank, Masraf Al Rayan, Qatar First Bank and Ezdan; even as Ooredoo, Doha Insurance, Al Khaleej Takaful, Mesaieed Petrochemical Holding, Salam International Holding, Al Meera Consumer Goods, QNB, QIIB and Alijarah Holding were among the gainers.
Local retail investors’ net profit booking increased substantially to QR26.54mn against QR4.42mn on September 3.
Non-Qatari individuals turned net sellers to the tune of QR7.58mn compared with net buyers of QR0.21mn on Tuesday.
However, domestic institutions’ net buying increased noticeably to QR17.35mn against QR15.24mn the previous day.
Gulf institutions’ net buying strengthened considerably to QR10.32mn compared to QR0.7mn on September 3.
Non-Qatari institutions turned net buyers to the extent of QR8.94mn against net sellers of QR6.19mn on Tuesday.
Gulf individuals’ net profit booking declined perceptibly to QR2.46mn compared to QR5.55mn the previous day.
Total trade volume fell 7% to 73.42mn shares, while value grew 30% to QR276.72mn and transactions by 51% to 8,143.
The real estate sector’s trade volume plummeted 52% to 15.69mn equities and value by 36% to QR16.86mn, while deals rose 27% to 1,635.
The insurance sector reported a 33% plunge in trade volume to 2.21mn stocks and 21% in value to QR6.58mn but on an 89% increase in transactions to 658.
However, the consumer goods sector’s trade volume soared 45% to 4.39mn shares and value more than doubled to QR42.89mn on an 85% growth in deals to 622.
The banks and financial services sector saw a 39% surge in trade volume to 30.08mn equities, 21% in value to QR135.34mn and 51% in transactions to 2,632.
The telecom sector’s trade volume shot up 30% to 3.672mn stocks and value by 65% to QR15.64mn on more-than-doubled deals to 688.
There was a 12% expansion in the transport sector’s trade volume to 7.14mn shares and 29% in value to QR20.28mn but on an 8% fall in transactions to 216.
The industrials sector’s trade volume was up 10% to 10.24mn equities, value by 70% to QR39.12mn and deals by 50% to 1,692.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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