Qatar: External uncertainties drag QSE down; M-cap melts $576mln
Qatar - The Gulf institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.32% to 10,595.24 points, although it touched an intraday high of 10,618 points.
Reflecting the uncertainty over the US tariffs and the Federal Reserve's cautious path for rate cuts, the Qatar Stock Exchange on Wednesday lost 34 points to settle below 10,600 levels.
The Gulf institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.32% to 10,595.24 points, although it touched an intraday high of 10,618 points.
As much as 62% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR2.1bn or 0.34% to QR619.3bn on the back of small and microcap segments.
The Gulf retail investors were seen increasingly bearish in the main market, which saw as many as 1,810 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn changed hands across four deals.
The transport, consumer goods and industrials counters witnessed higher than average selling pressure in the main bourse, whose trade turnover and volumes were on the increase.
The Islamic index was seen declining slower than the other indices of the main market, which saw no trading of treasury bills.
The local retail investors continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index shed 0.32%, the All Share Index by 0.28% and the All Islamic Index by 0.22% in the main market.
The transport sector index shrank 0.9%, consumer goods and services (0.67%), industrials (0.63%) and banks and financial services (0.1%); while telecom gained 0.34%, insurance (0.07%) and real estate (0.06%).
Major shakers in the main bourse included Ezdan, Dlala, Zad Holding, QLM, Milaha, Mannai Corporation, Baladna, Qatar Electricity and Water and Nakilat.
In the venture market, Al Mahhar Holding saw its shares depreciate in value.
Nevertheless, Vodafone Qatar, Barwa, Qatar National Cement, Doha Insurance, Dukhan Bank, Aamal Company and Estithmar Holding were among the gainers in the main market.
In the juniour bourse, Techno Q saw its shares appreciate in value.
The Gulf institutions' net profit booking increased substantially to QR68.16mn compared to QR17.56mn on February 10.
The Gulf individual investors' net selling expanded markedly to QR7.94mn against QR0.06mn the previous trading day.
The foreign retail investors' net buying weakened perceptibly to QR0.33mn compared to QR2.4mn on Monday.
However, the domestic institutions' net buying increased noticeably to QR50.58mn against QR47.66mn on February 10.
The foreign funds were net buyers to the extent of QR32.6mn compared with net sellers of QR11.89mnthe previous trading day.
The Qatari individual investors' net profit booking shrank notably to QR6.45mn against QR14.29mn on Monday.
The Arab retail investors' net selling decreased markedly to QR1.45mn compared to QR6.26mn on February 10.
The Arab institutions had no major net exposure for the third straight session.
Trade volumes in the main market rose 7% to 125.43mn shares, value by 42% to QR503.94mn and deals by 26% to 16,038.
The venture market saw a 97% plunge in trade volumes to 0.14mn equities and 97% in value to QR0.41mn but on 26% surge in transactions to 39.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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