Reflecting the global concerns on China's smaller cut in rates, the Qatar Stock Exchange (QSE) Monday plunged 117 points on the back of selling pressure, especially in the

Gulf Times

banks.
The foreign institutions were increasingly net sellers as the 20-stock Qatar Index tanked 1.11% to 10,459.78 points.
About 73% of the traded constituents were in the red in the main market, whose year-to-date losses widened to 2.07%.
The Arab individuals were increasingly net profit takers in the main bourse, which saw the index touch an intraday high of 10,648 points.
The Gulf institutions were seen bearish in the main market, whose capitalisation eroded QR6.04bn or 0.97% to QR615.42bn with small and midcap segments losing the most.
The domestic funds’ weakened net buying had its influence in dampening the sentiments in the main bourse, which saw a total of 7,648 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.06mn changed hands across four deals.
However, the local and foreign individuals were seen bullish in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index fell 1.11%, All Share Index by 0.97% and Al Rayan Islamic Index (Price) by 1.21% in the main bourse, whose trade turnover and volumes were on the rise.
The banks and financial services sector index shot up 1.26%, industrials (0.99%), consumer goods and services (0.91%, transport (0.64%), realty (0.64%) and telecom (0.12%); while insurance gained 0.82%.
Major losers in the main market included Qatar National Cement, Qatari German Medical Devices, Ezdan, Masraf Al Rayan, Mazaya Qatar, Alijarah Holding, Qatar Islamic Bank, Salam International Investment, Mannai Corporation, Baladna, Qatar Industrial Manufacturing, Gulf International Services, Mesaieed Petrochemical Holding, Estithmar Holding, Qamco and Milaha. In the junior bourse, Mahhar Holding saw its shares depreciate in value.
Nevertheless, Zad Holding, Qatar Oman Investment, Qatar Insurance, Mekdam Holding and Ahlibank Qatar were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
The foreign institutions’ net selling increased substantially to QR21.72mn compared to QR9.97mn on August 20.
The Arab individual investors’ net selling expanded noticeably to QR4.74mn against QR2.36mn the previous day.
The Gulf institutions turned net sellers to the tune of QR2.54mn compared with net buyers of QR5.41mn on Sunday.
The domestic institutions’ net buying decreased significantly to QR18.91mn against QR34.8mn on August 20.
However, the local individuals were net buyers to the extent of QR5.27mn compared with net sellers of QR23.44mn the previous day.
The foreign retail investors turned net buyers to the tune of QR3.34mn against net profit takers of QR2.2mn on Sunday.
The Gulf individuals were net buyers to the extent of QR1.48mn compared with sellers of QR2.24mn on August 20.
The Arab institutions had no major net exposure for the third straight session.
Trade volumes in the main market were up 9% to 153.51mn shares, value by 33% to QR432.15mn and deals by 78% to 18,875.
The venture market saw a 25% contraction in trade volumes to 1.57mn equities and 33% in value to QR3.65mn but on flat transactions at 332.
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