Ahead of US inflation data, QSE eases 38 points; M-cap melts QR1.82bn

Ahead of the US inflation data, the Qatar Stock Exchange on Wednesday continued to be in the negative trajectory with its key index losing more than 38 points as majority of the traded constituents were in the red.The real estate, industrials, telecom and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index knocked off 0.36% to 10,420.04 points, although it touched an intraday high of 10,495 points.The foreign individuals were seen net profit takers in the main bourse, whose capitalisation melted QR1.82bn or 0.29% to QR618.4bn primarily on the back of small and microcap segments.The domestic institutions’ weakened net buying had its influence on the main market, which saw as many as 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.14mn change hands across 16 deals.The Islamic index was seen declining faster than the other indices of the main bourse, whose trade turnover and volumes were on the decrease.The local individual investors’ lower net buying had its say in the main market, which saw no trading of treasury bills.The foreign funds continued to be bearish but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.36%, the All Islamic Index by 0.64% and the All Share Index by 0.19% in the main market.The realty sector index tanked 1%, industrials (0.92%), telecom (0.78%) and transport (0.55%); while insurance gained 0.26%, banks and financial services (0.22%) and consumer goods and services (0.04%).As much as 68% of the traded constituents were in the red with major losers being Ezdan, Aamal Company, Gulf Warehousing, Commercial Bank, Industries Qatar, QIIB, Qatar German Medical Devices, Medicare Group, Baladna and Qamco.Nevertheless, Doha Bank, Mekdam Holding, QNB, Meeza and Doha Insurance were among the gainers in the main bourse.In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.The foreign retail investors were net sellers to the tune of QR5.32mn compared with net buyers of QR5.31mn on November 12.The domestic institutions’ net buying declined significantly to QR31.34mn against QR56.65mn the previous day.The Qatari individuals’ net buying weakened perceptibly to QR25.94mn compared to QR28.13mn on Tuesday.The Arab retail investors’ net buying shrank markedly to QR2.32mn against QR9.33mn on November 12.The Gulf individual investors’ net buying eased marginally to QR0.2mn compared to QR0.93mn the previous day.However, the foreign institutions’ net selling decreased substantially to QR40.23mn against QR60.26mn on Tuesday.The Gulf institutions’ net profit booking declined noticeably to QR14.25mn compared to QR40.08mn on November 12.The Arab institutions had no major net exposure for the eighth straight session.Trade volumes in the main market fell 16% to 132.61mn shares, value by 22% to QR362.1mn and transactions by 7% to 15,388.In the venture market, trade volumes more than tripled to 0.67mn equities and value also more than tripled to QR1.62mn on more than doubled deals to 81.