The Qatar Stock Exchange on Sunday opened the week on a weaker note with its key index losing as much as 66 points on the back of an across the board selling pressure, notably in the industrials and insurance sectors.
The foreign funds were seen net profit takers as the 20-stock Qatar Index shed 0.64% to 10,253.49 points.
The Arab retail investors’ net buying was seen weakening in the main market, whose year-to-date losses widened further to 4%.
About 56% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR2.98bn or 0.49% to QR602.21bn with midcap segments losing the most.
The foreign individuals’ net buying slackened in the main market, which touched an intraday high of 10,365 points.
However, the Gulf institutions were increasingly into net buying in the main bourse, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.3mn changed hands across 13 deals.
The local retail investors turned bullish in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index fell 0.64%, the All Share Index by 0.65% and the Al Rayan Islamic Index (Price) by 0.49% in the main bourse, whose trade turnover and volumes were on the decline.
The industrials sector tanked 1.14%, insurance (0.75%), banks and financial services (0.61%), transport (0.46%), telecom (0.24%), consumer goods and services (0.09%) and real estate (0.04%).
Major shakers in the main market included Qatari German Medical Devices, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Gulf International Services, Meeza, QNB, Commercial Bank, Salam International Investment, Qatar National Cement, Estithmar Holding, Qamco, Mazaya Qatar and Vodafone Qatar. In the venture market, Mahhar Holding saw its shares depreciate in value.
Nevertheless, Dukhan Bank, Qatar General Insurance and Reinsurance, Doha Insurance, Medicare Group, Mannai Corporation and Aamal Company were among the gainers in the main bourse.
The foreign institutions turned net sellers to the tune of QR29.11mn compared with net buyers of QR3.77mn on September 14.
The Arab retail investors’ net buying declined noticeably to QR6.9mn against QR10.87mn the previous trading day.
The foreign individual investors’ net buying shrank perceptibly to QR2.04mn compared to QR6.68mn last Thursday.
However, the Gulf funds’ net buying strengthened substantially to QR26.54mn against QR8.75mn on September 14.
The local individuals were net buyers to the extent of QR4.93mn compared with net sellers of QR11.23mn the previous trading day.
The domestic institutions’ net profit booking weakened markedly to QR10.6mn against QR15.6mn last Thursday.
The Gulf individual investors’ net selling eased significantly to QR0.7mn compared to QR3.08mn on September 14.
The Arab institutions had no major net exposure against net sellers to the extent of QR0.16mn the previous trading day.
Trade volumes in the main market dipped 31% to 210.79mn shares, value by 53% to QR518.1mn and deals by 41% to 15,378.
The venture market saw a 56% slump in trade volumes to 0.45mn equities, 57% in value to QR0.96mn and 35% in transactions to 73.