An across the board profit booking, especially in the banks, led the Qatar Stock Exchange (QSE) plummet 153 points and its key index fell below 9,900 levels.

Gulf Times


The Gulf institutions were seen increasingly bearish as the 20-stock Qatar Index knocked off 1.52% to 9,887.51 points.
As much as 78% of the traded constituents were in the red in the main market, whose year-to-date losses widened to 8.71%.
The domestic institutions were seen increasingly net sellers in the main bourse, whose capitalisation eroded QR9.37bn or 1.6% to QR575.5bn with large and midcap segments leading the pack of shakers.
The Arab individuals’ weakened net buying had its influence in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across five deals.
However, the local retail investor turned bullish in the main bourse, which saw no trading of sovereign bonds.
The Islamic index fell slower than the other indices in the main market, which reported no trading of treasury bills.
The Total Return Index shed 1.52%, the All Share Index by 1.56% and the All Islamic Index by 1.15% in the main bourse, whose trade turnover and volumes were on the increase.
The banks and financial services sector index plummeted 1.96%, industrials (1.49%), real estate (1.18%), telecom (0.94%), insurance (0.8%), consumer goods and services (0.77%) and transport (0.6%).
Major shakers in the main market included Ahlibank Qatar, Gulf Warehousing, Qatar Industrial Manufacturing, Estithmar Holding, Widam Food, QNB, Qatar Islamic Bank, Commercial Bank, Qatar National Cement, Industries Qatar, Qamco and United Development Company.
Nevertheless, Qatar Oman Investment, Qatar Electricity and Water, Vodafone Qatar and Meeza were the four gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value.
The Gulf institutions’ net profit booking increased substantially to QR40.15mn compared to QR3.05mn on February 4.
The domestic institutions’ net selling strengthened considerably to QR20.92mn against QR9.22mn the previous day.
The Arab individual investors’ net buying declined markedly to QR2.46mn compared to QR4.31mn on Sunday.
However, the local individuals turned net buyers to the tune of QR25.07mn against net sellers of QR12.56mn on February 4.
The foreign institutions’ net buying expanded noticeably to QR24.78mn compared to QR18.21mn the previous day.
The foreign individual investors’ net buying strengthened markedly to QR5.96mn against QR1.89mn on Sunday.
The Gulf retail investors’ net buying expanded perceptibly to QR2.81mn compared to QR0.42mn on February 4.
The Arab institutions had no major net exposure for the eighth consecutive session.
Trade volumes in the main market soared 13% to 117.04mn shares, value by 41% to QR397.38mn and deals by 52% to 15,633.
In the venture market, trade volumes more than doubled to 0.24mn equities and value also more than doubled to QR0.33mn on almost tripled transactions to 37.