Local retail investors’ bearish outlook yesterday drove the Qatar Stock Exchange down more than 10 points amidst weakened trading activities.
The insurance, industrials and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.11% lower at 9,386.16 points, although it reached a high of 9,419 points intraday.
Foreign institutions’ buying interests were seen weakening on the bourse, whose year-to-date losses were at 9.97%.
Market capitalisation saw about QR20mn or 0.04% increase to QR549.68bn mainly owing to microcap segments.
Trade turnover and volumes were on the decline on the market, where the industrials, consumer goods and banking sectors together accounted for more than 77% of the total trading volume.
The Total Return Index was down 0.11% to 18,044.58 points, Al Rayan Islamic Index (Price) by 0.25% to 2,115.54 points and All Share Index by 0.15% to 2,929.42 points.
The insurance index tanked 2.23%, industrials (0.21%), banks and financial services (0.14%), consumer goods and services (0.06%) and real estate (0.,01%); while transport and telecom gained 0.72% and 0.38% respectively.
More than 51% of the traded constituents were in the red with major losers being Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Qatar Insurance, Qatari Investors Group, Gulf International Services, Qamco, Qatar German Company for Medical Devices, Mannai Corporation, Baladna, Zad Holding, Qatar First Bank, Alijarah Holding and Mazaya Qatar; even as Aamal Company, Qatar Oman Investment, Inma Holding, Ezdan, Milaha and Gulf Warehousing were among the gainers.
Local retail investors turned net sellers to the tune of QR16.46mn compared with net buyers of QR11.81mn on July 21.
Foreign institutions’ net buying weakened substantially to QR3.16mn against QR14.15mn the previous day.
However, the Arab individuals were net buyers to the extent of QR8.97mn compared with net sellers of QR4.74mn on Tuesday.
Foreign individuals’ net buying increased considerably to QR8.49mn against QR1.87mn on July 21.
The Gulf individuals turned net buyers to the tune of QR1.04mn compared with net sellers of QR1.4mn the previous day.
Domestic funds’ net profit booking declined significantly to QR1.76mn against QR17.07mn on Tuesday.
The Gulf institutions’ net selling weakened marginally to QR3.4mn compared to QR4.68mn on July 21.
The Arab institutions had no major exposure against net buyers of QR0.08mn the previous day.
Total trade volumes fell 21% to 227.25mn shares, value by 31% to QR400.48mn and transactions by 29% to 8,499.
The transport sector’s trade volume plummeted 57% to 5.12mn equities, value by 60% to QR14.31mn and deals by 39% to 553.
The consumer goods and services sector reported 31% plunge in trade volume to 53.25mn stocks, 40% in value to QR105.32mn and 26% in transactions to 2,150.
The industrials sector’s trade volume tanked 27% to 70.36mn shares, value by 43% to QR70.67mn and deals by 30% to 1,890.
There was 19% shrinkage in the real estate sector’s trade volume to 34.08mn equities, 31% in value to QR41.69mn and 21% in transactions to 1,105.
The insurance sector’s trade volume shrank 13% to 4.4mn stocks, value by 17% to QR7.72mn and deals by 18% to 286.
However, the telecom sector saw 49% surge in trade volume to 7.76mn shares, 47% in value to QR18.78mn and 19% in transactions to 518.
The banks and financial services sector’s trade volume was up 6% to 52.28mn equities, whereas value declined 15% to QR142mn and deals by 38% to 1,997.
In the debt market, there was no trading of sovereign bonds and treasury bills.
Business / Business
Local retail investors’ bearish outlook drags Qatar Stock Exchange
