The Qatar Stock Exchange Thursday treaded a flat path despite strong selling pressure at the telecom, transport and insurance counters.
The Arab institutions were seen increasingly into net profit booking as the 20-stock Qatar Index stood at 10,212.61 points.
The market, which was heavily skewed towards shakers, had touched an intraday high of 10,277 points.
The Gulf individuals were seen bearish in the main market, whose year-to-date losses increased marginally to 4.39%.
About 62% of the traded constituents were in the red in the main bourse, whose capitalisation was seen eroding QR1.58bn or 0.27% to QR592.49bn, mainly on account of microcap segments.
The domestic institutions’ weakened net selling had its influence in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Doha Bank) valued at QR0.06mn changed hands across three deals.
The Gulf funds’ lower net selling interests had its say in weakening the overall sentiments in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than then other indices in the main market, which saw no trading of treasury bills.
The Total Return Index was down 0.01%, the All Share Index by 0.09% and the Al Rayan Islamic Index (Price) by 0.18% in the main bourse, whose trade turnover and volumes were on the decline.
The telecom sector index tanked 2.33%, transport (1.34%), insurance (1.06%) and industrials (0.26%); while consumer goods and services gained 1.32%, realty (0.45%) and banks and financial services (0.14%).
Major losers in the main market included Qatar General Insurance and Reinsurance, Qatar Industrial Manufacturing, Medicare Group, Ooredoo, Milaha, Inma Holding and Aamal Company.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Qatari German Medical Devices, Dlala, Estithmar Holding, Masraf Al Rayan, Woqod, United Development Company and Gulf Warehousing were among the gainers in the main market.
The Arab institutions’ net profit booking increased substantially to QR15.74mn compared to QR3.08mn on March 29.
The Gulf individual investors turned net sellers to the tune of QR1.31mn against net buyers of QR0.21mn the previous day.
The domestic institutions’ net buying declined noticeably to QR24.26mn compared to QR30.87mn on Wednesday.
The Gulf institutions’ net buying weakened perceptibly to QR3.4mn against QR9.3mn on March 29.
The foreign retail investors’ net buying eased markedly to QR5.12mn compared to QR6.06mn the previous day.
However, the local retail investors turned net buyers to the extent of QR9.37mn against net profit takers of QR0.22mn on Wednesday.
The foreign institutions’ net selling decreased considerably ton QR20.5mn compared to QR32.08mn on March 29.
The Arab individuals’ net profit booking weakened notably to QR4.62mn against QR11.09mn the previous day.
In the main market, trade volumes fell 21% to 180.08mn shares, value by 17% to QR534.79mn and deals by 4% to 20,280.