QSE witnesses 60% stocks in the red as index loses 39 points

The Qatar Stock Exchange (QSE) on Wednesday settled in the negative with its key index losing more than 39 points, dragged by Gulf institutions’ profit booking.
The transport sector witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.39% to 10,119.08 points, although it touched an intraday high of 10,134 points yesterday.
The domestic institutions’ weakened net buying had its influence in the main market, whose year-to-date losses widened to 6.57%.
As much as 60% of the traded constituents were in the red in the main bourse, whose capitalisation eroded QR2.63bn or 0.45% to QR585.31bn on the back of midcap segments.
The foreign retail investors’ lower net buying had its say in the main market, which saw 8,712 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.08mn trade across five deals.
The foreign institutions continued to be bearish but with lesser intensity in the main bourse, which saw no trading of treasury bills. The local retail investors were seen net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the main barometer in the main bourse, whose trade turnover and volumes were on the incline.
The Total Return Index was rather flat but the All Islamic Index fell 0.23% and the All Share Index by 0.05% in the main market.
The transport sector index shrank 0.9% and banks and financial services 0.28%; while realty gained 0.59%, industrials (0.55%), telecom (0.25%), insurance (0.21%) and consumer goods and services (0.2%).
Major losers in the main market included Widam Food, Inma Holding, Industries Qatar, Nakilat, Salam International Investment and Mesaieed Petrochemical Holding.
Nevertheless, Al Faleh Educational Holding, Qatar General Insurance and Reinsurance, Lesha Bank, Vodafone Qatar, Estithmar Holding, Qamco and Barwa were among the gainers in the main bourse.
In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.
The Gulf institutions turned net sellers to the tune of QR7.84mn compared with net buyers of QR3.39mn on August 20.
The Gulf individual investors’ net selling increased marginally to QR1.19mn against QR1.04mn the previous day.
The domestic institutions’ net buying decreased noticeably to QR10.63mn compared to QR17.79mn on Tuesday.
The foreign individual investors’ net buying weakened perceptibly to QR0.89mn against QR1.87mn on August 20.
However, the Qatari individuals were net buyers to the extent of QR7.67mn compared with net sellers of QR5.94mn the previous day.
The Arab retail investors turned net buyers to the tune of QR1.05mn against net sellers of QR1.66mn on Tuesday.
The foreign institutions’ net profit booking declined markedly to QR11.23mn compared to QR14.39mn on August 20.
The Arab institutions had no major net exposure against net sellers to the tune of QR0.02mn the previous day.
Trade volumes in the main market were up 4% to 105.83mn shares, value by 2% to QR277.19mn and transactions by 5% to 12,590.
The venture market saw 95% plunge in trade volumes to 0.19mn equities, 95% in value to QR0.43mn and 81% in deals to 43.