Qatar Stock Exchange edges lower on Gulf funds’ net selling


The foreign retail investors turned bearish in the main market, whose year-to-date losses widened further to 6.45%

The Qatar Stock Exchange yesterday lost more than 15 points as the transport counter witnessed higher than average selling pressure.
The Gulf institutions were increasingly net sellers as the 20-stock Qatar Index was down 0.15% to 9,991.81 points, with investors remaining cautious ahead of a crucial meeting of the oil grouping to decide on the output.
The foreign retail investors turned bearish in the main market, whose year-to-date losses widened further to 6.45%.
More than 54% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0.08bn or 0.01% to QR585.41bn with microcap segments losing the most.
The Gulf individuals were increasingly net profit takers in the main market, which touched an intraday high of 10,002 points.
The Arab retail investors’ weakened net buying had its influence in the main bourse, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.03mn trade across three deals.
However, the foreign institutions were increasingly net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the main barometer in the main bourse, which witnessed no trading of treasury bills.
The Total Return Index shed 0.15%, the All Islamic Index by 0.11% and the All Share Index by 0.05% in the main bourse, whose trade turnover and volumes were on the decline.
The transport sector index fell 0.94%, industrials (0.15%), insurance (0.14%) and real estate (0.04%); while telecom gained 0.42%, consumer goods and services (0.11%) and banks and financial services (0.06%).
Major losers in the main market included Qatar Islamic Insurance, Meeza, Dukhan Bank, Doha Bank, Commercial Bank and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Beema, Vodafone Qatar, Estithmar Holding, Gulf International Services, Qatar General Insurance and Reinsurance and Untied Development Company were among the movers in the main market. In the juniour bourse, Mahhar Holding saw its shares appreciate in value.
The Gulf institutions’ net selling increased substantially to QR24.37mn compared to QR2.19mn on November 28.
The foreign retail investors turned net sellers to the tune of QR1.34mn against net buyers of QR4.51mn on Tuesday.
The Gulf individuals’ net profit booking grew marginally to QR0.11mn compared to QR0.09mn the previous day.
The Arab individual investors’ net buying weakened noticeably to QR1.95mn against QR5.37mn on November 28.
However, the foreign institutions’ net buying strengthened perceptibly to QR11.89mn compared to QR8.39mn on Tuesday.
The local retail investors were net buyers to the extent of QR6.55mn against net sellers of QR17.86mn the previous day.
The domestic institutions’ net buying expanded markedly to QR5.44mn compared to QR1.87mn in November 28.
The Arab institutions had no major net exposure for the third straight session.
Trade volumes in the main market shrank 14% to 113.02mn shares, value by 12% to QR364.18mn and deals by 12% to 13,856.
The venture market saw a 59% plunge in trade volumes to 0.64mn equities, 59% in value to QR0.79mn and 47% in transactions to 83.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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