The Qatar Stock Exchange on Thursday snapped five consecutive days of bull-run as its key index lost 52 points and capitalisation eroded more than QR3bn.
An across the board selling – particularly at the telecom, real estate and transport counters – dragged the 20-stock Qatar Index 0.46% to 11,110.16 points, although it touched an intraday high of 11,215 points.
The domestic institutions were increasingly into net selling in the main market, whose year-to-date gains truncated to 4.02%.
The Gulf funds were seen net profit takers in the main bourse, whose capitalisation saw QR3.33bn or 0.53% contraction to QR630.34bn, mainly led by midcap segments.
The Gulf retail investors turned bearish, albeit at lower levels, in the main market, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.5mn changed hands across 39 deals.
About 64% of the traded constituents were in the red in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index shed 0.46%, the All Share Index by 0.59% and the Al Rayan Islamic Index (Price) by 0.88% in the main bourse, whose trade turnover and volumes were on the increase.
The telecom sector index plummeted 2.14%, real estate (1.57%), transport (1.1%), banks and financial services (0.59%), insurance (0.27%), consumer goods and services (0.21%) and industrials (0.13%).
Major shakers in the main market included QIIB, Qatar Industrial Manufacturing, United Development Company, Medicare Group, Al Meera, Doha Bank, Alijarah Holding, Qatari German Medical Devices, Baladna, Barwa, Ooredoo, Vodafone Qatar and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The domestic funds’ net profit booking increased noticeably to QR44.69mn compared to QR38.72mn on January 25.
The Gulf institutions turned net sellers to the tune of QR27.58mn against net buyers of QR7.49mn the previous day.
The Gulf individuals were net sellers to the extent of QR1.12mn compared with net buyers of QR0.95mn on Wednesday.
However, the foreign institutions’ net buying expanded substantially to QR56.7mn against QR21.98mn on January 25.
The local retail investors’ net buying strengthened perceptibly to QR10.57mn compared to QR3.95mn the previous day.
The foreign individual investors’ net buying enlarged notably to QR3.2mn against QR2.48mn on Wednesday.
The Arab retail investors’ net buying grew marginally to QR2.65mn compared to QR2.18mn on January 25.
The Arab institutions turned net buyers to the tune of QR0.27mn against net sellers of QR0.32mn the previous day.
The main market saw a 1% gain in trade volumes to 126.95mn shares and 11% in value to QR481.64mn but on 12% shrinkage in deals to 13,165.