The Qatar Stock Exchange (QSE) yesterday lost about 70 points on profit booking pressure, especially in the banks and financial services sector.

Gulf Times


The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.71% to 9,794.48 points, although it touched an intraday high of 9,882 points.

The Gulf institutions were also increasingly bearish in the main market, whose year-to-date losses widened to 9.57%.

The domestic institutions’ weakened net buying had its influence in the main bourse, whose capitalisation melted QR2.91bn or 0.51% to QR569.32bn with small and microcap segments leading the pack of gainers.

The Arab retail investors were increasingly into net selling in the main market, which saw as many as 459 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1,217 trade across five deals.

However, the local retail investors were seen bullish in the main bourse, which saw no trading of sovereign bonds and treasury bills.

The Total Return Index declined 0.38% and the All Share Index by 0.36%, while the All Islamic Index was up 0.04% in the main bourse, whose trade turnover and volumes were on the decline.

The banks and financial services sector index shrank 1.02%, transport (0.11%) ad telecom (0.07%); while real estate gained 0.93%, consumer goods and services (0.45%), industrials (0.4%) and insurance (0.32%).

Major losers in the main bourse included Commercial Bank, Medicare Group, QIIB, Nakilat, Dukhan Bank, Qatar Electricity and Water and Ezdan. In the venture market, Al Mahhar Holding saw its shares depreciate in value.

Nevertheless, more than 53% of the traded constituents extended gains with major movers being Qatari German Medical Devices, Qamco, Milaha, Barwa, QLM, Lesha Bank, Industries Qatar, Al Faleh Educational Holding, Gulf International Services, Mazaya Qatar and Gulf Warehousing were among the gainers in the main bourse.

The Gulf institutions’ net profit booking increased noticeably to QR18.14mn compared to QR14.85mn on April 1.

The foreign institutions’ net selling strengthened considerably to QR17.12mn against QR0.61mn the previous day.

The Arab individual investors’ net selling grew marginally to QR0.36mn compared to QR0.02mn on Monday.

The domestic institutions’ net buying declined substantially to QR0.63mn against QR121.93mn April 1.

The Gulf individual investors’ net buying eased perceptibly to QR0.36mn compared to QR2.06mn the previous day.

However, the Qatari individuals were net buyers to the tune of QR27.32mn against net sellers of QR105.7mn on Monday.

The foreign retail investors turned net buyers to the extent of QR7.86mn compared with net sellers of QR2.81mn on April 1.

The Arab institutions had no major net exposure for the eighth straight session.

Trade volumes in the main market fell 8% to 134.29mn shares and value by 23% to QR417.67mn, while deals were up 2% to 14,986.

The venture market saw flat trade volumes at 0.03mn equities but on 20% plunge in value to QR0.04mn and 50% in transactions to 3.