QSE witnesses marginal correction, but index stays above 12,000 level

The Qatar Stock Exchange on Tuesday witnessed marginal decline but overall its key index stood above 12,000 levels.Notwithstanding the increased net buying interests of foreign funds, the 20-stock Qatar Index was down four points or 0.03% to 12,052.44 points, although it touched an intraday high of 12,057 points.Local retail investors were seen net buyers in the market, whose year-to-date gains were at 3.67%.About 62% of the traded constituents were in the red in the bourse, whose capitalisation declined QR42mn or 0.06% to QR684.59bn, mainly on the back of microcap segments.The domestic institutions were increasingly net profit takers in the market, where four of the seven sectors were under bearish spell.The Arab individuals turned net sellers in the main market, which saw a total of 123,953 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR1.24mn trade across 21 deals.The Total Return Index was down 0.03% to 23,858.53 points, the All Share Index by 0.04% to 3,792.66 points and the Al Rayan Islamic Index (Price) by 0.04% to 2,673.4 points in the market, which saw no trading of sovereign bonds and treasury bills.The consumer goods and services sector index declined 0.32%, insurance (0.3%), industrials (0.27%) and telecom (0.27%); while real estate gained 0.52%, transport (0.5%) and banks and financial services (0.03%).Major losers in the main market included QLM, Mazaya Qatar, Al Khaleej Takaful, Salam International Investment, Alijarah Holding, Dlala, Widam Food, Baladna, Qatar National Cement, Industries Qatar, Gulf International Services, Qatar Electricity and Water and Vodafone Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares lose steam.Nevertheless, Qatari Investors Group, Barwa, Al Meera, Nakilat and Qamco were among the gainers in the main market.The domestic funds’ net selling increased substantially to QR96.59mn compared to QR16.26mn on January 10.The Arab individuals were net sellers to the extent of QR5.68mn against net buyers of QR6.07mn the previous day.The foreign individuals turned net sellers to the tune of QR1.48mn compared with net buyers of QR2.5mn on Monday.The Gulf institutions’ net buying decreased markedly to QR1.84mn against QR3.12mn on January 10.The Gulf individuals’ net buying eased notably to QR0.05mn compared to QR1.19mn the previous day.However, foreign institutions' net buying rose perceptibly to QR97.43mn against QR95.94mn on Monday.Local retail investors turned net buyers to the tune of QR4.41mn compared with net sellers of QR92.56mn on January 10.The Arab funds continued to have no major net exposure.Total trade volume in the main market fell 22% to 132.34mn shares, value by 9% to QR438.63mn and transactions by 24% to 8,230.The telecom sector’s volume plummeted 79% to 1.19mn equities, value by 60% to QR5.38mn and deals by 41% to 250.The industrials sector reported a 42% plunge in trade volume to 41.61mn stocks, 46% in value to QR100.13mn and 42% in transactions to 2,017.The consumer goods and services sector’s trade volume tanked 29% to 14.55mn shares, value by 38% to QR23.09mn and deals by 31% to 697.There was a 19% shrinkage in the real estate sector’s trade volume to 20.37mn equities, 3% in value to QR31.91mn and 7% in transactions to 888.The banks and financial services sector’s trade volume was down 2% to 37.75mn stocks, whereas value shot up 20% to 206.18mn despite 5% lower deals at 3,925.However, the insurance sector’s trade volume more than doubled to 8.13mn shares and value more than quadrupled to QR39.44mn but on a 79% fall in transactions to 76.The market witnessed a 48% surge in the transport sector’s trade volume to 8.74mn equities but on a 3% contraction in value to QR32.5mn and 19% in deals to 377.In the venture market, volume shrank 40.86% to 194,293 stocks, value by 49.67% to QR1.15mn and deals by 55.73% to 85.