Qatar Stock Exchange was back in the negative turf, mainly dragged by transport, real estate, banking, insurance and industrials stocks.

Lower buying support from foreign institutions and local retail investors led the 20-stock Qatar Index decline 0.12% to 10,123 points.

Overcoming the initial weakness, the index shot up to reach a high of above 10,160 points in the first 30 minutes, after which it witnessed stronger profit booking for the next 60 minutes to take the index to less than 10,120 points. Thereafter, the index was on a slow gaining mode but overall it settled 12 points lower against the previous close.

Small and mid-cap stocks saw noticeable selling pressure in the bourse, which also saw non-Qatari individuals turn bearish and increased net selling by Gulf retail investors.

Islamic stocks fell faster than the other indices in the market, which however saw lower net selling by domestic and Gulf institutions.

Trade turnover and volumes were on the decline in the bourse, where banking, realty and telecom sectors together accounted for about 88% of the total volumes.

Market capitalisation however gained QR22mn or 0.04% to QR540.4bn mainly on 0.14% gain in large cap equities; even as small, mid and microcaps declined 0.66%, 0.21% and 0.07% respectively.

The Total Return Index shed 0.12% to 16,975.67 points, All Share Index by 0.07% to 2,865.02 points and Al Rayan Islamic Index by 0.2% to 4,047.45 points.

The transport sector’s index shrank 0.73%, real estate (0.63%), consumer goods (0.6%), insurance (0.58%) and industrials (0.58%); whereas banks and financial services gained 0.58% and telecom 0.06%.

About 67% of the traded stocks were in the red with major losers being Zad Holding, Barwa, Ezdan, Qatar Insurance, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Aamal Company, Vodafone Qatar, Nakilat, Milaha, Medicare Group, Widam Food and Al Khaleej Takaful; even as QNB, Ooredoo, Gulf International Services and Qatar Islamic Insurance were among the gainers.

Local retail investors’ net buying declined perceptibly to QR7.66mn compared to QR9.29mn the previous day.

Non-Qatari institutions’ net buying weakened considerably to QR0.02mn against QR6.87mn on May 22.

Non-Qatari retail investors turned net sellers to the tune of QR0.48mn compared with net buyers of QR1.54mn on Monday.

The GCC (Gulf Cooperation Council) retail investors’ net selling rose to QR1.48mn against QR1.1mn the previous day.

However, domestic institutions’ net selling weakened substantially to QR5.66mn compared to QR15.54mn on May 22.

The GCC institutions’ net profit booking decreased marginally to QR0.08mn against QR1.07mn on Monday.

Total trade volumes fell 14% to 7.24mn shares, value by 27% to QR202.07mn and deals by 22% to 2,432.

There was 63% plunge in the consumer goods sector’s trade volume to 0.11mn equities, 66% in value to QR8.53mn and 59% in transactions to 149.

The transport sector’s trade volume plummeted 41% to 0.23mn stocks, value by 13% to QR12.24mn and deals by 71% to 130.

The banks and financial services sector saw 19% shrinkage in trade volume to 2.44mn shares and 26% in value to QR97.22mn but on 6% rise in transactions to 1,401.

The real estate sector’s trade volume tanked 14% to 2mn equities, value by 31% to QR31.96mn and deals by 29% to 265.

The industrials sector reported 9% decline in trade volume to 0.39mn stocks, 26% in value to QR24.56mn and 23% in transactions to 275.

However, the insurance sector’s trade volume grew 14-fold to 0.14mn shares and value by about 12-fold to QR8.34mn on more than six-fold jump in deals to 80.

Although the telecom sector’s trade volume was flat at 1.93mn equities, there was 20% slump in value to QR19.21mn and 43% in transactions to 132.

In the debt market, there was no trading of treasury bills and government bonds.

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