(MENAFN- Gulf Times)
Selling pressure, especially in the telecom, real estate and transport counters, Wednesday steered the Qatar Stock Exchange into negative trajectory; but overall its index remained above 13,000 levels.
The Gulf institutions were seen net profit takers as the 20-stock Qatar Index settled 30 points or 0.23% lower at 13,002.99 points, although it touched an intraday high of 13,193 points.
The foreign institutions' weakened net buying had its influence in the market, whose year-to-date gains truncated to 11.85%.
The Arab funds turned net sellers, albeit at lower levels, in the main bourse, whose capitalisation saw QR0.76bn or 0.11% decline to QR723.64bn, mainly on the back of microcap segments.
The Islamic index shrank faster than the other indices in the market, which saw a total of 0.3mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.47mn changed hands across 179 deals.
Trade turnover and volumes were on the decrease in both the main and venture markets.
The local retail investors and domestic institutions continued to be net sellers but with lesser intensity in the bourse, which saw no trading of sovereign bonds.
The Arab retail investors' net profit booking was seen weakening in the market, which saw no trading of treasury bills.
The Total Return Index shed 0.23% to 26,634.34 points, the All Share Index by 0.14 to 4,131.46 points and the Al Rayan Islamic Index (Price) by 0.35% to 2,814.79 points.
The telecom sector index tanked 1.24%, followed by realty (0.87%), transport (0.54%), banks and financial services (0.09%) and industrials (0.02%); while insurance gained 0.53% and consumer goods and services (0.04%).
Major losers in the main market included Ooredoo, United Development Company, Ahlibank Qatar, Mesaieed Petrochemical Holding, Baladna, QIIB, Qatar Electricity and Water and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, more than 53% of the traded constituents extended gains in the main market with major gainers being Qamco, QLM, Widam Food, Qatari Investors Group, Ezdan, Salam International Investment and Vodafone Qatar. In the junior bourse, Mekdam Holding saw its shares appreciate in value.
The Gulf institutions turned net sellers to the tune of QR5.43mn compared with net buyers of QR11.41mn on October 4.
The Arab institutions were net sellers to the extent of QR0.01mn against no major net exposure the previous day.
The foreign institutions' net buying declined significantly to QR87.95mn compared to QR154.59mn on Tuesday.
However, Qatari individuals' net selling weakened considerably to QR35.92mn against QR78.4mn on October 4.
The domestic institutions' net selling shrank drastically to QR35.43mn compared to QR67.29mn the previous day.
The Arab retail investors' net profit booking eased perceptibly to QR9.74mn against QR16.22mn on Tuesday.
The Gulf individuals' net selling decreased noticeably to QR0.94mn compared to QR2.12mn on October 4.
The foreign individuals' net profit booking reduced detectably to QR0.48mn against QR1.96mn the previous day.
Total trade volume in the main market fell 20% to 228.27mn shares, value by 20% to QR592.52mn and deals by 20% to 16,156.
The venture market saw a 55% plunge in trade volumes to 0.05mn equities, 74% in value to QR0.22mn and 60% in transactions to 20.
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