The weakening global oil prices had its reflection on the Qatar Stock Exchange, which yesterday saw its key index fall 136 points to settle below 10,100 levels, and capitalisation erode QR9bn.
A higher than average selling pressure at the banking, consumer goods and insurance counters led the 20-stock Qatar Index to knock off 1.33% to 10,090.01 points.
The market, which was skewed towards decliners, saw its index touch an intraday high of 10,235 points.
The foreign institutions were increasingly net profit takers in the main market, whose year-to-date losses widened to 5.53%.
The local retail investors’ weakened net buying had its influence on the main bourse, whose capitalisation eroded QR8.85bn or 1.18% to QR587.67bn, mainly on account of mid and small cap segments.
The domestic institutions turned net buyers in the main market, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.03mn changed hands across 61 deals.
The Gulf funds were also seen bullish in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the main barometer in the main market, which saw no trading of treasury bills.
The Total Return Index lost 1.33%, the All Share Index by 1.49% and the Al Rayan Islamic Index (Price) by 1.3% in the main bourse, whose trade turnover grew amidst lower volumes.
The banks and financial services sector index shrank 2.29%, consumer goods and services (2.29%), insurance (1.38%), real estate (1.24%), telecom (0.89%) and industrials (0.42%); while transport shot up 1.15%.
About 74% of the traded constituents in the main market were in the red with major losers being Qatar General Insurance and Reinsurance, Woqod, QNB, Al Khaleej Takaful, QIIB, Doha Bank, Dukhan Bank, Qatari German Medical Devices, Aamal Company, Mazaya Qatar, Barwa, Vodafone Qatar and Milaha.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Nakilat, Qatar Islamic Insurance, Gulf International Services, Dlala, Al Meera and Qatar National Cement were among the gainers in the main market.
The foreign institutions’ net selling increased substantially to QR81.92mn compared to QR1.02mn on April 12
The local retail investors’ net buying declined markedly to QR38mn against QR42.67mn the previous day.
However, the domestic institutions turned net buyers to the tune of QR25.39mn compared with net sellers of QR18.08mn on Wednesday.
The Gulf institutions were net buyers to the extent of QR14.66mn against net sellers of QR15.65mn on April 12.
The Arab individuals turned net buyers to the tune of QR1.94mn compared with net sellers of QR7.62mn the previous day.
The Gulf retail investors were net buyers to the extent of QR1.18mn against net profit takers of QR0.45mn on Wednesday.
