Profit booking was seen stronger, especially in the telecom, consumer goods and transport counters as the 20-stock fell 0.41% to 9,532.6 points.
Trading turnover was seen increasing amidst fall in volumes as the market awaited clear signals from Vienna where the Organisation of the Petroleum Exporting Countries met to discuss the strategies in the energy sector, where oil prices have gained almost 85% since January this year. Later, after the market closed, oil prices fell as the oil group could not arrive at a consensus to set output cap.
Islamic stocks were seen retreating faster than the conventional ones in the market, which is down 8.6% year-to-date.
However, foreign institutions’ net selling considerably weakened in the bourse, where banking, telecom and industrials stocks together constituted about 70% of the total trading volume.
Market capitalisation fell 0.41% or more than QR2bn to QR517.14bn as small and midcaps fell 0.64% each and large caps (0.41%); while microcaps gained 0.3%.
The Total Return Index shed 0.41% to 15,423.11 points, All Share Index by 0.4% to 2,672.29 points and Al Rayan Islamic Index by 0.7% to 3,721.77 points.
Telecom stocks shrank 1.13%, consumer goods (0.94%), transport (0.9%), realty (0.49%), banks and financial services (0.46%) and industrials (0.25%); while insurance soared 1.17%.
About 62% of the stocks were in the red with major losers being Vodafone Qatar, Nakilat, United Development Company, Barwa, Ezdan, Commercial Bank, Doha Bank, Qatar Islamic Bank, Medicare Group, Industries Qatar and Gulf International Services; even as Qatar Insurance, Aamal Company, Qatar Industrial Manufacturing and Dlala bucked the trend.
Domestic institutions turned net sellers to the tune of QR0.74mn compared with net buyers of QR3.46mn on June 1.
The GCC (Gulf Cooperation Council) institutions’ net buying plunged to QR11.18mn compared to QR44.62mn on Wednesday.
However, non-Qatari institutions’ net selling weakened considerably to QR10.71mn against QR44.01mn the previous day.
Local retail investors turned net buyers to the extent of QR0.29mn compared with net sellers of QR0.79mn on June 1.
The GCC individual investors were also net buyers to the tune of QR1.2mn against net sellers of QR0.93mn on Wednesday.
Non-Qatari individual investors’ net profit booking weakened to QR1.25mn compared to QR2.37mn the previous day.
Total trade volume fell 7% to 4.82mn shares, while value rose 10% to QR222.74mn and deals by 9% to 3,084.
The real estate sector saw 45% plunge in trade volume to 0.41mn equities, 43% in value to QR8.42mn and 23% in transactions to 227.
The banks and financial services sector’s trade volume plummeted 40% to 1.48mn stocks, value by 15% to QR79.87mn and deals by 28% to 752.
However, the consumer goods sector’s trade volume almost doubled to 0.42mn shares and value more than doubled to QR31.42mn on more than doubled transactions to 512.
The market witnessed 70% surge in the insurance sector’s trade volume to 0.39mn equities, 84% in value to QR28.79mn and 54% in deals to 252.
The industrials sector’s trade volume soared 44% to 0.92mn stocks and value by 21% to QR49.8mn; whereas transactions were down 4% to 625.
The telecom sector reported 37% increase in trade volume to 0.97mn shares, 44% in value to QR16.78mn and 92% in deals to 550.
The transport sector’s trade volume expanded 15% to 0.23mn equities but value tanked 37% to QR7.66mn; even as transactions gained 14% to 166.
In the debt market, there was no trading of treasury bills and government bonds.
