The Qatar Stock Exchange (QSE) Sunday witnessed buying interests from the Arab and Gulf retail investors, even as it settled nine points lower.
The market had initially seen bullish momentum to take the 20-stock Qatar Index to an intraday high of 10,516 points but profit booking pressure in the second half led it overall settle 0.09% lower at 10,484.17 points.
The insurance, industrials, consumer goods and real estate counters witnessed higher than average selling pressure in the market, whose year-to-date losses widened marginally to 2.59%.
About 74% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR0.56bn or 0.09% to QR626.09bn, mainly owing to microcap segments.
The local retail investors turned net sellers in the main market, whose trade turnover and volumes were on the decline.
The foreign individuals were seen net profit takers in the main bourse, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.08mn trade across 16 deals.
Both domestic and foreign institutions continued to be net sellers but with lesser intensity in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the other indices of the main bourse, which saw no trading of sovereign sukuks.
The Total Return Index was down 0.09%, the All Share Index by 0.09% and the Al Rayan Islamic Index by 0.34% in the main bourse, which saw no trading of treasury bills.
The insurance sector index tanked 1.75%, industrials (0.4%), consumer goods and services (0.23%), realty (0.2%) and telecom (0.09%); while transport gained 0.34% and banks and financial services 0.09%.
As many as 39 declined, while 12 decreased and two were unchanged in the main market.
Major shakers in the main market included Qatar General Insurance and Reinsurance, Widam Food, Dlala, Inma Holding, Beema, Baladna, Al Faleh Educational Holding, Al Mahhar Holding, Mesaieed Petrochemical Holding, Industries Qatar, Qamco, Ezdan and Mazaya Qatar. Techno Q saw its shares depreciate in value in the juniour bourse.
Nevertheless, Commercial Bank, Meeza, Estithmar Holding, Alijarah Holding, QNB, Barwa and Nakilat were among the movers in the main market.
The local individual investors turned net sellers to the tune of QR0.79mn against net buyers of QR40.15mn last Thursday.
The foreign retail investors were net sellers to the extent of QR0.65mn compared with net buyers of QR0.42mn on May 14.
However, the Gulf funds’ net buying increased markedly to QR3.11mn against QR1.07mn the previous trading day.
The Arab individuals turned net buyers to the tune of QR2.97mn compared with net sellers of QR1.87mn last Thursday.
The Gulf retail investors were net buyers to the extent of QR1.43mn against net profit takers of QR1.32mn on May 14.
The domestic funds’ net selling weakened significantly to QR3.49mn compared to QR14.24mn the previous trading day.
The foreign institutions’ net profit booking shrank considerably to QR2.58mn against QR24.22mn last Thursday.
The Arab institutions had no major net exposure for the sixth straight session.
The main market saw 17% contraction in trade volumes to 100.88mn shares, 34% in value to QR231.83mn and 40% in deals to 14,919.
In the venture market, a total of 0.07mn equities valued at QR0.15mn changed hands across 16 transactions.