Domestic and foreign funds’ net profit booking pressure on Wednesday steered the Qatar Stock Exchange back into negative turf and its key barometer lost 19 points.
The telecom, industrials and realty counters notably witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.21% lower at 9,224.8 points, although it touched a low of 9,198 points within 30 minutes of the opening.
The Arab and Gulf institutions turned bearish on the bourse, whose year-to-date losses were at 11.52%.
Market capitalisation saw QR0.5bn or 0.09% increase to QR537.06bn mainly owing to microcap segments.
Islamic stocks were seen declining faster than the other indices on the market, which saw local, foreign and the Arab retail investors turn net buyers.
Trade turnover and volumes were on the increase on the market, where the real estate and banking sectors together accounted for more than 69% of the total trading volume.
The Total Return Index fell 0.21% to 17,734.38 points, Al Rayan Islamic Index (Price) by 0.75% to 2,077.13 points and All Share Index by 0.19% to 2,874.72 points.
The telecom index tanked 1.21%, industrials (0.99%), realty (0.82%), insurance (0.44%) and consumer goods and services (0.28%); while transport gained 1.6% and banks and financial services 0.02%.
About 59% of the traded constituents were in the red with major losers being Vodafone Qatar, Ooredoo, Gulf International Services, Industries Qatar, Qamco, Qatar National Cement, Qatar Industrial Manufacturing, United Development Company, Al Khaleej Takaful, Commercial Bank, Al Khaliji, Qatar Oman Investment, Islamic Holding Group and Salam International Investment; while Dlala, Qatar First Bank, Alijarah Holding, Baladna, Milaha and Nakilat were among the gainers.
Domestic institutions turned net sellers to the tune of QR21.89mn compared with net buyers of QR17.87mn on July 7.
Foreign funds were also net sellers to the extent of QR12.54mn against net buyers of QR9.82mn the previous day.
The Arab institutions turned net profit takers to the tune of QR0.44mn compared with no exposure on Tuesday.
The Gulf institutions were also net sellers to the extent of QR0.18mn against net buyers of QR6.41mn on July 7.
The Gulf individuals turned net sellers to the tune of QR0.06mn compared with net buyers of QR2.06mn the previous day.
However, local retail investors were net buyers to the extent of QR23.9mn against net sellers of QR22.17mn on Tuesday.
Foreign individuals turned net buyers to the tune of QR9.17mn compared with net sellers of QR7.88mn on July 7.
The Arab individuals were also net buyers to the extent of QR2.01mn against net sellers of QR6.11mn the previous day.
Total trade volumes grew less than 1% to 309.31mn shares and value by 1% to QR591.7mn, while transactions fell 16% to 9,077.
The banks and financial services sector saw 62% surge in trade volume to 107.1mn equities, 53% in value to QR273.64mn and 23% in deals to 2,695.
The transport sector’s trade volume soared 19% to 16.18mn stocks, value by 27% to QR55.88mn and transactions by 50% to 561.
The consumer goods and services sector’s trade volume shot up 18% to 25mn shares and value by 8% to QR45.19mn, while deals were down 6% to 988.
There was 4% jump in the real estate sector’s trade volume to 107.54mn equities and 8% in value to QR142.49mn but on 9% fall in transactions to 2,495.
However, the telecom sector’s trade volume plummeted 72% to 3.52mn stocks, value by 67% to QR9.34mn and deals by 63% to 436.
The industrials sector reported 47% plunge in trade volume to 43.11mn shares, value by 62% to QR54.62mn and transactions by 43% to 1,621.
The insurance sector’s trade volume tanked 32% to 6.86mn equities, value by 47% to QR10.53mn and deals by 39% to 281.
In the debt market, there was no trading of sovereign bonds and treasury bills.
