The Qatar Stock Exchange on Wednesday witnessed increased buying interests from the domestic institutions but overall it settled below 10,000 levels.
Although the foreign funds saw weakened net selling pressure, the 20-stock Qatar Index settled 67 points or 0.67% lower at 9,952.86 points, having touched an intraday high of 10,045 points.
"The index retreated after posting a top at around 11,000 points last month and closed just near the support line at 10,080 points, which if broken would increase the risk of reaching 9,585 points," a Kamco analyst note said.
About 59% of the traded constituents were in the red in the bourse, whose year-to-date losses widened to 4.63%.
The foreign individuals were increasingly net sellers and the Arab funds turned bearish in the market, whose capitalisation saw more than QR3bn or 0.53% decline to QR579.19bn, mainly owing to small and midcap segments.
The Islamic index was seen declining slower than the other indices in the bourse, which saw the local retail investors turned net profit takers.
Trade turnover and volumes were on the increase in the market, where the industrials and banking sectors together accounted for more than 65% of the trading volume.
A total of 556,315 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR2.09mn changed hands across 65 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shrank 0.67% to 19,265.3points, Al Rayan Islamic Index (Price) by 0.35% to 2,295.78 points and All Share Index by 0.43% to 3,091.54 points.
The insurance sector index soared 1.41%, industrials (1.26%), real estate (0.98%), transport (0.74%), telecom (0.53%) and banks and financial services (0.04%); while consumer goods and services gained 0.14%.
Major losers included Industries Qatar, Ooredoo, Qatar Insurance, Salam International Investment, Qatar General Insurance and Reinsurance, Qatar National Cement, Al Khaleej Takaful, United Development Company, QIIB, Qatari German Medical Devices, Gulf International Services, Qamco, Ezdan, Mesaieed Petrochemical Holding and Milaha.
However, Doha Insurance, Aamal Company, Al Meera Consumer Goods, Investment Holding Group, Qatar First Bank, Dlala and Vodafone Qatar were among the gainers.
The foreign individuals’ net selling increased substantially to QR8.36mn against QR0.79mn on February 23.
The Arab individuals turned net sellers to the tune of QR4.8mn compared with net buyers of QR0.91mn on Tuesday.
Qatari investors were net sellers to the extent of QR0.21mn against net buyers of QR33.64mn the previous day.
However, the domestic funds’ net buying grew markedly to QR14.41mn compared to QR4.97mn on February 23.
The Gulf funds turned net buyers to the tune of QR7.37mn against net sellers of QR4.64mn on Tuesday.
The Gulf individuals were net buyers to the extent of QR0.05mn compared with net sellers of QR0.37mn the previous day.
The Arab funds turned marginally net buyers to the tune of QR4mn against no major net exposure on February 23.
The foreign institutions’ net profit booking fell noticeably to QR8.4mn compared to QR20.08mn on Tuesday.
Total trade volume grew 54% to 199.93mn shares, value by 22% to QR504.77mn and transactions by 12% to 11,977.
The telecom sector’s trade volume almost tripled to 7.99mn equities and value more than tripled to QR33.2mn on more than doubled deals to 1,445.
The transport sector’s trade volume more than doubled to 8.95mn stocks and value almost tripled to QR38.6mn on 68% increase in transactions to 1,026.
The industrials sector’s trade volume almost doubled to 97.49mn shares, value soared 77% to QR123.57mn and deals by 35% to 3,371.
The insurance sector reported 88% surge in trade volume to 8.12mn equities, 89% in value to QR17.6mn and 76% in transactions to 358.
The consumer goods and services sector’s trade volume shot up 54% to 27.49n stocks, value by 6% to QR43.19mn and deals by 10% to 1,202.
The banks and financial services sector saw 17% shrinkage in trade volume to 33.27mn shares but on 6% fall in value to QR218.83mn and 18% in transactions to 3,659.
However, the realty sector’s trade volume plunged 30% to 16.63mn equities, value by 20% to QR29.77mn and deals by 22% to 916.