(MENAFN- Gulf Times) The Gulf institutions were on Wednesday increasingly net buyers on the Qatar Stock Exchange, which otherwise was in the negative trajectory.
The buying interests in insurance and telecom counters notwithstanding, the 20-stock Qatar Index settled more than 28 points or 0.26% lower at 10,940.58 points, having touched an intraday high of 10,974 points.
Domestic institutions' net selling pressure was seen considerably weakening in the bourse, whose year-to-date gains were at 4.84%.
More than 68% of the traded constituents were in the red in the market, whose capitalisation saw more than QR1bn, or 0.23%, decline to QR632.95bn, mainly owing to small and microcap segments.
The Islamic index was seen declining slower than the main barometer in the market, which saw industrials and consumer goods sectors constitute more than 69% of the total trading volume.
The buying interests of the foreign funds and the local retail investors were seen weakening in the bourse, which saw a total of 28,414 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR286,273 changed hands across 12 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index declined 0.26% to 21,657.54 points, the All Share Index by 0.21% to 3,454.08 points and the Al Rayan Islamic Index (Price) by 0.23% to 2,539.45 points.
The transport sector index shrank 0.92%, real estate (0.37%), industrials (0.36%), consumer goods and services (0.24%) and banks and financial services (0.11%); whereas insurance and telecom gained 0.29% and 0.11% respectively.
Major shakers included QLM, Qatar Oman Investment, Investment Holding Group, Dlala, Commercial Bank, Al Khaliji, Alijarah Holding, Qatar Industrial Manufacturing, Qamco, Ezdan, Nakilat and Milaha; even as Ahlibank Qatar, Mannai Corporation, Qatar Electricity and Water, Gulf Warehousing and Qatar Islamic Insurance were among the gainers.
The Gulf individuals were net sellers to the tune of QR15.51mn compared with net buyers of QR2.36mn on April 27.
The foreign institutions' net buying declined notably to QR18.3mn against QR25.95mn the previous day.
Local retail investors' net buying also eased considerably to QR5.69mn compared to QR26.78mn on Tuesday.
However, the Gulf institutions' net buying shot up markedly to QR11.56mn against QR4.86mn on April 27.
Foreign individuals were net buyers to the extent of QR2.79mn compared with net sellers of QR1.94mn the previous day.
The Arab individuals turned net buyers to the tune of QR1.92mn against net sellers of QR3.95mn on Tuesday.
The Arab funds' net buying strengthened marginally to QR0.09mn compared to QR0.03mn on April 27.
The domestic funds' net selling shrank substantially to QR24.87mn against QR54.05mn the previous day.
Total trade volume fell 24% to 269.9mn shares, value by 16% to QR580.96mn and transactions by 8% to 10,426.
The consumer goods and services sector's trade volume plummeted 52% to 58.75mn equities, value by 30% to QR116.69mn and deals by 25% to 2,059.
There was a 50% plunge in the transport sector's trade volume to 2.85mn stocks, 45% in value to QR12.7mn and 26% in transactions to 310.
The industrials sector's trade volume tanked 20% to 127.89mn shares, value by 25% to QR215.47mn and deals by less than 1% to 3,795.
However, the market witnessed a 64% surge in the insurance sector's trade volume to 11.78mn equities, 49% in value to QR36.7mn and transactions by 11% to 633.
The banks and financial services sector's trade volume soared 21% to 38.26mn stocks and value by 8% to QR148.85mn; while deals were down 8% to 2,576.
There was a 6% jump in the real estate sector's trade volume to 26.56mn shares but on 9% contraction in value to QR38.96mn and 17% in transactions to 668.
The telecom sector's trade volume expanded 4% to 3.81mn equities, value by 15% to QR11.6mn and deals by 51% to 385.
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