The Qatar Stock Exchange Monday lost 76 points to settle below 9,100 levels, mainly on foreign funds’ substantially increased net profit booking.
The industrials and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.83% lower at 9,052.29 points amidst six banking equities – QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, QIIB and Masraf Al Rayan – trading in special segment.
The Gulf individuals were seen bearish in the bourse, whose year-to-date losses widened to 13.17%.
Market capitalisation saw about QR3bn, or 0.55%, decrease to QR520.19bn mainly owing to midcap segments.
Islamic stocks were seen declining slower than the other indices in the market, which saw local, Arab and foreign individuals increasingly net buyers.
Trade turnover and volumes were on the increase in the market, where the real estate sector alone accounted for more than 61% of the total trading volume.
The Total Return Index shed 0.83% to 17,402.74 points, the All Share Index by 0.91% to 2,822.46 points and the Al Rayan Islamic Index (Price) by 0.62% to 2,035 points.
The industrials index tanked 1.77%, banks and financial services (0.99%), consumer goods and services (0.77%) and insurance (0.15%); while realty gained 0.82%, telecom (0.04%) and transport (0.03%).
About 59% of the traded constituents were in the red with major losers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, QNB, Commercial Bank, Doha Bank, Qatar Oman Investment, Salam International Investment, Qatar German Company for Medical Devices and United Development Company; whereas Ezdan, Alijarah Holding, Qamco, Doha Insurance, Qatar Islamic Insurance and Mazaya Qatar were among the gainers.
Foreign institutions’ net selling increased substantially to QR42.87mn compared to QR2.09mn on June 28.
Gulf individuals were net sellers to the tune of QR3.61mn against net buyers of QR0.8mn the previous day.
However, Qatari individuals turned net buyers to the extent of QR22.43mn compared with net sellers of QR2.36mn on Sunday.
Gulf institutions were also net buyers to the tune of QR6.97mn against net sellers of QR4.87mn on June 28.
Domestic funds’ net buying strengthened noticeably to QR6.43mn compared to QR4.08mn the previous day.
Arab individuals’ net buying also grew perceptibly to QR5.76mn against QR4.18mn on Sunday.
Foreign individuals’ net buying shot up influentially to QR4.77mn compared to QR0.25mn on June 28.
Arab institutions turned net buyers to the tune of QR0.13mn against no major exposure the previous day.
Total trade volumes rose 72% to 287.41mn shares, value by 67% to QR414.59mn and transactions by 36% to 7,574.
The real estate sector’s trade volume almost quadrupled to 175.9mn equities and value also almost quadrupled to QR172.77mn on more-than-doubled deals to 1,867.
The transport sector reported a 67% surge in trade volume to 8.1mn stocks and 56% in value to QR22.67mn on more-than-doubled transactions to 548.
The insurance sector’s trade volume soared 58% to 4.12mn shares, value by 47% to QR6.99mn and deals by 20% to 160.
There was a 4% jump in the industrials sector’s trade volume to 49.65mn equities, 50% in value to QR80.78mn and 56% in transactions to 2,227.
However, the consumer goods and services sector’s trade volume plummeted 38% to 18.55mn stocks, value by 44% to QR34.52mn and deals by 32% to 866.
The market witnessed a 33% surge in the telecom sector’s trade volume to 4.1mn shares, 14% in value to QR8.45mn and 22% in transactions to 295.
The banks and financial services sector’s trade volume was down 7% to 27mn equities, while value expanded 51% to QR88.4mn and deals by 32% to 1,611.
In the debt market, there was no trading of sovereign bonds and treasury bills.