Foreign funds’ net profit booking drags QSE 191 points; M-cap erodes QR11bn

The Qatar Stock Exchange Tuesday remained under bearish spell for the second consecutive day as it tanked more than 191 points, on an across the board selling, particularly in the real estate, transport and banking sectors.
The foreign institutions were seen net profit takers as the 20-sfock Qatar Index plummeted 1.72% to 10,932.29 points, reflecting the concerns in the global markets on falling energy prices and the rising US Federal Reserve rates.
The market, which was highly skewed towards shakers, had touched an intraday high of 11,085 points, indicating strong demand especially during the start of the session.
The Gulf institutions’ net buying was seen weakening in the main market, whose year-to-date gains truncated to 2.35%.
More than 70% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR10.95bn or a 1.74% erosion to QR619.95bn, mainly led by midcap segments.
However, the local retail were increasingly net buyers in the main market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.27mn changed hands across nine deals.
The Arab individuals turned net buyers 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 1.72%, the All Share Index by 1.37% and the Al Rayan Islamic Index (Price) by 1.8% in the main bourse, whose trade turnover and volumes were on the decline.
The real estate sector index tanked 2.3%, followed by transport (2.18%), banks and financial services (2.06%), insurance (1.61%), telecom (1.24%), industrials (0.42%) and consumer goods and services (0.03%).
Major shakers in the main market included Masraf Al Rayan, United Development Company, Qatar National Cement, Milaha, Mesaieed Petrochemical Holding, QNB, Qatar Islamic Bank, QIIB, Estithmar Holding, Gulf Warehousing and Ooredoo.
Nevertheless, Qatar Islamic Insurance, Medicare Group, Industries Qatar, Doha bank and Beema were among the losers in the main market.
The foreign institutions turned net sellers to the tune of QR40.91mn compared with net buyers of QR28.54mn on January 30.
The Gulf institutions’ net buying weakened marginally to QR7.6mn against QR8.34mn the previous day.
However, the local retail investors’ net buying shot up considerably to QR37.5mn compared to QR19mn on Monday.
The Arab retail investors were net buyers to the extent of QR4.79mn against net sellers of QR1.73mn on January 30.
The foreign individuals turned net buyers to the tune of QR4.38mn compared with net sellers of QR0.81mn the previous day.
The Gulf retail investors were net buyers to the extent of QR0.06mn against net sellers of QR1.1mn on Monday.
The domestic funds’ net profit booking decreased substantially to QR13.42mn compared to QR52.24mn on January 30.
The Arab institutions had no major net exposure for the second consecutive session.
The main market saw a 19% contraction in trade volumes to 134.51mn shares and 5% in value to QR601.36mn but on a 14% jump in deals to 19,485.