The Qatar Stock Exchange on Tuesday retreated below 9,200 levels mainly dragged by telecom and banking equities.
Domestic institutions’ increased profit booking led the 20-stock Qatar Index shrink for the fourth consecutive day by 0.46% to 9,160.97 points.
Doha Bank sponsored exchange-traded fund QETF witnessed 0.22% decline; whereas Masraf Al Rayan-sponsored QATR soared 3.84%.
Islamic stocks were seen declining slower than the other indices in the market, which is, however, up 7.48% year-to-date.
Nevertheless, foreign funds were increasingly bullish and their Gulf counterparts turned net buyers on the bourse, whose capitalisation shrank 0.62% to QR504.94bn, mainly due to large cap stocks.
Trade turnover and volume were on the decline on the market, where banking, transport and telecom sectors together accounted for about 74% of the total volume.
The Total Return Index shed 0.46% to 16,140.61 points, All Share Index by 0.44% to 2,680.75 points and Al Rayan Islamic Index (Price) by 0.23% to 2,238.84 points.
The telecom index shrank 1.39%, banks and financial services (0.79%), industrials (0.28%) and consumer goods (0.23%); while insurance gained 0.67%, realty (0.14%) and transport (0.13%).
Major losers included Nakilat, Ooredoo, QNB, Mesaieed Petrochemical Holding, Aamal Company, Masraf Al Rayan and Alijarah Holding; whereas Milaha, Commercial Bank, Dlala, Mazaya Qatar and Islamic Holding Group were among the gainers.
Domestic institutions’ net profit booking grew significantly to QR145.77mn against QR83.62mn the previous day.
Non-Qatari individual investors’ net buying fell perceptibly to QR0.04mn compared to QR3.93mn on Monday.
However, non-Qatari institutions’ net buying strengthened considerably to QR167.64mn against QR125.12mn on June 11.
The Gulf institutions turned net buyers to the tune of QR12.59mn compared with net sellers of QR5.56mn the previous day.
The Gulf individuals were also net buyers to the extent of QR0.42mn against net profit takers of QR0.75mn on Monday.
Local individual investors’ net selling weakened marginally to QR34.27mn compared to QR39.07mn on June 11.
Total trade volume fell 14% to 8.4mn shares, value by 19% to QR380.3mn and transactions by 15% to 4,572.
The consumer goods sector’s trade volume plummeted 48% to 0.17mn equities, value by 38% to QR16.42mn and deals by 22% to 175.
The transport sector reported 37% plunge in trade volume to 1.39mn stocks, 32% in value to QR24.13mn and 3% in transactions to 816.
The telecom sector’s trade volume tanked 35% to 1.25mn shares and value by 26% to QR16.26mn, while deals gained 30% to 427.
The industrials sector’s trade volume declined 21% to 0.82mn equities, value by 31% to QR36.95mn and transactions by 29% to 726.
However, the insurance sector saw 50% surge in trade volume to 0.33mn stocks, 54% in value to QR12.79mn and 3% in deals to 229.
The real estate sector’s trade volume soared 19% to 0.88mn shares, value by 20% to QR11.31mn and transactions by 37% to 463.
There was 6% expansion in the banks and financial services sector’s trade volume to 3.56mn equities but on 16% shrinkage in value to QR262.44mn and 28% in deals to 1,736.
In the debt market, there was no trading of treasury bills and sovereign bonds.