QSE sees 79% stocks lose steam; M-cap melts QR1.67bn

The Qatar Stock Exchange today witnessed about 79% of the traded constituents end in red, leading to a 42-point decline in the key index and QR1.67bn in capitalisation.The domestic institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.41% to 10,151.72 points, but recovering from an intraday low of 10,065 points.An across the board selling – particularly in insurance, consumer goods and banks – dampened the sentiments in the main market, whose year-to-date losses widened to 6.27%.The foreign retail investors were increasingly bearish in the main bourse, whose capitalisation declined 0.28% to QR588.4bn on the back of small-cap segments.The Arab individuals were also seen increasingly net sellers in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.02mn trade across four deals.The local retail investors turned net profit takers in the main bourse, which saw no trading of treasury bills.However, the foreign funds were increasingly net buyers 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 bourse, whose trade turnover and volumes were on the increase.The Total Return Index shed 0.41%, the All Islamic Index by 0.38% and the All Share Index by 0.39% in the main market.The insurance sector index lost 0.93%, consumer goods and services (0.65%), banks and financial services (0.48%), transport (0.28%), real estate (0.18%), telecom (0.17%) and industrials (0.12%).Major shakers in the main market included Widam Food, Qatar Islamic Bank, Zad Holding, Qatar Oman Investment, Qatar Insurance, Commercial Bank, QIIB, Aamal Company and Nakilat.In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.Nevertheless, Meeza, Doha Bank, Qatari Investors Group, Gulf International Services and Dlala were among the gainers in the main bourse.The domestic institutions’ net selling increased noticeably to QR20.95mn compared to QR14.79mn on July 16.The foreign individual investors’ net selling grew substantially to QR10.39mn against QR0.66mn the previous day.The Arab retail investors’ net profit booking strengthened markedly to QR5.99mn compared to QR2.53mn on Tuesday.The Qatari individual investors turned net sellers to the tune of QR0.74mn against net buyers of QR8.52mn on July 16.However, the foreign institutions’ net buying soared significantly to QR45.43mn compared to QR18.92mn the previous day.The Gulf individual investors were net buyers to the extent of QR0.65mn against net profit takers of QR1.03mn on Tuesday.The Gulf institutions’ net selling weakened marginally to QR8mn compared to QR8.41mn on July 16.The Arab institutions continued to have no major net exposure for the third straight session.Trade volumes in the main market shot up 33% to 186.32mn shares, value by 48% to QR478.48mn and transactions by 27% to 17,279.The venture market saw a 13% surge in trade volumes to 0.78mn equities, 23% in value to QR1.69mn and 5% in deals to 96.