Domestic funds’ increased net selling pressure on Thursday weakened the Qatar Stock Exchange, whose key index settled 27 points lower.
The consumer goods, transport, real estate and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.28% to 9,730.52 points.
Both Gulf institutions and individuals were net sellers in the market, whose sensitive index is down 5.52% year-to-date.
Market capitalisation eroded about QR3bn, or 0.48%, to QR538.19bn mainly owing to mid and small cap segments.
Islamic equities were seen declining slower than the main index in the market, where foreign funds continued to be net buyers but with less vigour.
Trade turnover and volumes were on the decline in the bourse, where the industrials, realty and banking sectors together accounted for more than 82% of the total volume.
The Total Return Index declined 0.28% to 17,904.98 points, the Al Rayan Islamic Index (Price) by 0.02% to 2,262.94 points and the All Share Index by 0.45% to 2,895.38 points.
The consumer goods index shrank 1.54%, transport (0.64%), real estate (0.63%), banks and financial services (0.56%) and insurance (0.45%); whereas industrials and telecom gained 0.23% and 0.14% respectively.
More than 52% of the traded constituents were in the red with major losers being Woqod, Ezdan, Mazaya Qatar, Gulf International Services, QNB, Ahlibank Qatar, QIIB, Qatari German Company for Medical Devices; even as Doha Bank, Qatar Oman Investment, Salam International Investment, Qatari Investors Group and Mesaieed Petrochemical Holding were among the prime gainers.
Domestic institutions’ net profit booking increased influentially to QR35.21mn compared to QR27.54mn on Wednesday.
The Gulf institutional investors turned net sellers to the tune of QR1.49mn against net buyers of QR0.21mn on May 22.
The Gulf individuals were also net sellers to the extent of QR0.82mn compared with net buyers of QR0.8mn the previous day.
Non-Qatari institutions’ net buying declined noticeably to QR52.91mn against QR60.35mn on Wednesday.
However, local retail investors’ net selling weakened perceptibly to QR13.64mn compared to QR24.35mn on May 22.
Non-Qatari individuals’ net profit booking shrank to QR1.72mn against QR9.5mn on Wednesday.
Total trade volume fell 44% to 8.93mn shares, value by 16% to QR291.99mn and transactions by 30% to 7,558.
The industrials sector’s trade volume plummeted 50% to 3.88mn equities, value by 44% to QR103.79mn and deals by 40% to 2,169.
The banks and financial services sector saw a 45% plunge in trade volume to 1.47mn stocks but on a 29% jump in value to QR73.09mn despite 25% lower transactions at 1,095.
The consumer goods sector’s trade volume tanked 43% to 0.78mn shares, whereas value grew 23% to QR67.81mn and deals by 35% to 751.
The transport sector saw a 42% shrinkage in trade volume to 0.28mn equities, 19% in value to QR8.48mn and 44% in transactions to 146.
The realty sector’s trade volume declined 38% to 1.99mn stocks, value by 17% to QR27.04mn and deals by 36% 2,862.
There was a 3% fall in the insurance sector’s trade volume to 0.36mn shares but on a 41% growth in value to QR6.99mn and 35% in transactions to 398.
However, the insurance sector’s trade volume soared 33% to 0.16mn equities and value by 45% to QR4.79mn, while deals were down 7% to 137.
In the debt market, there was no trading of treasury bills and sovereign bonds.
