Four days of continuous gains on Thursday gave way to profit-booking on the Qatar Stock Exchange, which settled 85 points lower at sub-9,300 levels.
Increased selling pressure from local retail investors and domestic funds was instrumental in dragging the 20-stock Qatar Index by 0.92% to 9,242.3 points.
Doha Bank sponsored exchange traded fund QETF saw 0.66% decline; whereas Masraf Al Rayan sponsored QATR gained 0.58%.
Islamic stocks were seen declining slower than the conventional ones in the market, which is however up 8.43% year-to-date.
Profit-booking was seen stronger especially within large and small caps, leading to a 0.73% decline in market capitalisation to QR511.54bn.
Trade turnover and volume were on the decline in the market, where banking, industrials and transport sectors together accounted for about 74% of the total volume.
The Total Return Index shed 0.92% to 16,283.9 points, the All Share Index by 0.76% to 2,707.31 points and the Al Rayan Islamic Index (Price) by 0.84% to 2,236.27 points.
The transport index tanked 3%, followed by realty (2.13%), telecom (2.06%), industrials (1.13%) and banks and financial services (0.18%); while consumer goods and insurance gained 1.08% and 0.55% respectively.
About 74% of the stocks were in the red with major losers being Nakilat, Milaha, Ooredoo, Vodafone Qatar, Ezdan, Mazaya Qatar, United Development Company, Qatar Electricity and Water, Aamal Company and Mesaieed Petrochemical Holding; even as Qatar Islamic Bank, Woqod and Dlala were among the gainers.
Local individual investors’ net selling grew substantially to QR62.41mn compared to QR50.08mn on Wednesday.
Domestic institutions’ net profit-booking strengthened sizably to QR40.03mn against QR8.33mn the previous day.
However, non-Qatari institutions’ net buying increased perceptibly to QR90.23mn compared to QR82.51mn on June 6.
Gulf institutions turned net buyers to the tune of QR19.84mn against net sellers of QR15.14mn on Wednesday.
Gulf individual investors were also net buyers to the extent of QR0.04mn compared with net sellers of QR1.12mn the previous day.
Non-Qatari individual investors’ net profit-booking fell marginally to QR7.72mn against QR7.88mn on June 6.
Total trade volume fell 30% to 9.9mn shares, value by 4% to QR431.31mn and transactions by 13% to 5,227.
The telecom sector’s trade volume plummeted 74% to 0.67mn equities, value by 53% to QR15.39mn and deals by 27% to 455.
The insurance sector reported a 71% plunge in trade volume to 0.49mn stocks, 72% in value to QR18.77mn and 47% in transactions to 289.
The transport sector’s trade volume tanked 61% to 1.54mn shares, value by 61% to QR25.49mn and deals by 31% to 590.
There was a 55% shrinkage in the real estate sector’s trade volume to 0.85mn equities, 42% in value to QR13mn and 31% in transactions to 410.
However, the industrials sector’s trade volume soared 69% to 1.71mn stocks and value by 28% to QR64.05mn, while deals declined 12% to 935.
The banks and financial services sector saw a 57% surge in trade volume to 4.04mn shares, 50% in value to QR252.69mn and 12% in transactions to 2,043.
The consumer goods sector’s trade volume shot up 22% to 0.61mn equities, whereas value was down 2% to QR41.92mn and deals by 3% at 495.
In the debt market, there was no trading of treasury bills and sovereign bonds.