Reflecting the Federal Reserve rate cut concerns after a stronger than expected retail push in the US and the rising geopolitical tensions, the Qatar Stock Exchange (QSE) Tuesday fell

Gulf Times

more than 68 points, mainly dragged by transport and industrials sectors.

The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index lost 0.69% to 9,853.16 points, having touched an intraday high of 9,940 points.

The domestic institutions were also increasingly net profit takers in the main market, whose year-to-date losses widened to 9.03%.

As much as 70% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.63bn or 0.63% to QR571.79bn on account of midcap segments.

The Gulf institutions’ lower net buying interests had its influence in the main market, which saw as many as 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn trade across nine deals.

The Arab retail investors’ weakened net buying had its say in the main bourse, which saw no trading of sovereign bonds.

The Islamic stocks were seen declining slower than the other indices in the market, which saw no trading of treasury bills.

The Total Return Index shrank 0.69%, the All Share Index by 0.64% and the All Islamic Index by 0.52% in the main bourse, whose trade turnover and volumes were on the decline.

The transport sector index plummeted 2.19%, industrials (0.87%), insurance (0.65%), and banks and financial services (0.54%); while consumer goods and services gained 0.36%, real estate (0.23%) and telecom (0.05%).

Main losers in the main bourse included Inma Holding, Milaha, Mannai Corporation, Qatar General Insurance and Reinsurance, Nakilat, Dukhan Bank, Commercial Bank, Industries Qatar, Gulf International Services, Qamco, Ezdan and Mazaya Qatar.

Nevertheless, Meeza, Mekdam Holding, Medicare Group, Barwa, Gulf Warehousing and Ooredoo were among the movers in the main market.

The foreign institutions’ net selling strengthened significantly to QR27.38mn compared to QR17.25mn on April 15.

The domestic institutions’ net profit booking grew noticeably to QR11.8mn against QR5.5mn the previous day.

The Gulf institutions’ net buying declined markedly to QR21.23mn compared to QR28.15mn on Monday.

The Arab individual investors’ net buying decreased perceptibly to QR0.27mn against QR5.37mn on April 15.

The foreign retail investors’ net buying eased notably to QR2.52mn compared to QR3.3mn the previous day.

However, the Qatari individuals turned net buyers to the tune of QR14.47mn against net sellers of QR13.69mn on Monday.

The Gulf individuals were net buyers to the extent of QR0.07mn compared with net sellers of QR0.58mn on April 15.

The Arab institutions had no major net exposure for the third straight session.

Trade volumes in the main market tanked 30% to 150.82mn shares, value by 25% to QR492.26mn and deals by 27% to 15,351.