The Qatar Stock Exchange Sunday opened the week weak with its key index down more than 91 points and its key index settled below 10,300 levels.
A higher than average selling pressure in the consumer goods and transport sectors led the 20-stock Qatar Index to settle 0.88% lower at 10,250.99 points.
The market, which was marginally skewed towards shakers, however touched an intraday high of 10,340 points.
The local retail investors turned net profit takers in the main market, whose year-to-date losses widened to 4.03%.
The Gulf individual investors were also seen bearish in the main bourse, whose capitalisation eroded QR3.69bn or 0.61% to QR597.78bn, mainly on account of midcap segments.
The foreign institutions’ weakened net buying has its influence on the main market, which saw a total of 0.31mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.14mn changed hands across 172 deals.
The Gulf funds’ lower net buying also had its say in dampening the sentiments in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the key barometer in the main market, which saw no trading of treasury bills.
The Total Return Index shed 0.88%, the All Share Index by 0.81% and the Al Rayan Islamic Index (Price) by 0.82% in the main bourse, whose trade turnover and volumes were on the decline.
The consumer goods and services sector index tanked 1.43%, transport (1%), industrials (0.82%), banks and financial services (0.78%), real estate (0.75%) and telecom (0.64%); while insurance gained 0.44%.
More than 72% of the traded constituents in the main market were in the red with major losers being Dlala, Mannai Corporation, Qatar National Cement, Gulf International Services, Woqod, Commercial Bank, Industries Qatar, Mazaya Qatar, Gulf Warehousing and Milaha. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Inma Holding, Ahlibank Qatar, Doha Insurance, Al Khaleej Takaful and Qatar General Insurance and Reinsurance were among the gainers in the main market.
The local retail investors turned net sellers to the tune of QR2.04mn compared with net buyers of QR11.45mn on April 6.
The Gulf individual investors were net sellers to the extent of QR0.66mn against net buyers of QR0.44mn the previous day.
The foreign institutions’ net buying declined substantially to QR7.75mn compared to QR31.4mn last Thursday.
The Gulf institutions’ net buying decreased perceptibly to QR1.35mn against QR8.67mn on April 6.
However, the Arab individuals turned net buyers to the tune of QR14.72mn compared with net sellers of QR2.02mn the previous day.
The foreign retail investors were net buyers to the extent of QR0.37mn against net profit takers of QR1.62mn last Thursday.
The domestic institutions’ net selling weakened substantially to QR21.48mn compared to QR48.32mn on April 6.
The Arab institutions continued to have no major net exposure for the second straight session.
In the main market, trade volumes shrank 32% to 119.04mn shares, value by 31% to QR285.69mn and deals by 44% to 8,345.
A higher than average selling pressure in the consumer goods and transport sectors led the 20-stock Qatar Index to settle 0.88% lower at 10,250.99 points.
