The Qatar Stock Exchange fell for the second consecutive day, but stood above 10,500 levels, mainly dragged by banking and insurance equities.
Domestic funds’ increased selling pressure and foreign institutions’ weakened buying interests led the 20-stock Qatar Index knock off another 0.44% to 10,505.34 points.
However, non-Qatari individuals turned net buyers and there was weakened selling pressure from local retail investors in the market, whose key benchmark closed 2% higher year-to-date.
Market capitalisation declined about QR3bn or 0.49% to QR579.48bn mainly owing to small and midcap segments.
Islamic equities were seen declining slower than the other indices on the market, where the Gulf institutions turned bullish.
Trade turnover and volume were on the increase in the bourse, where the banking sector alone accounted for about 50% of the total volume.
The Total Return Index fell 0.44% to 19,330.72 points, Al Rayan Islamic Index (Price) by 0.21% to 2,395.44 points and All Share Index by 0.44% to 3,107.97 points.
The banks and financial services index tanked 1.1%, insurance (0.7%), industrials (0.04%) and real estate (0.03%); while transport gained 1.91%, consumer goods (0.37%) and telecom (0.03%).
Major losers included QNB, Qatar Islamic Bank, Commercial Bank, Al Khaleej Takaful, Barwa, Mannai Corporation and Vodafone Qatar; even as Qatar Oman Investment, Qatari German Company for Medical Devices, Ezdan, Gulf Warehousing, Nakilat and Milaha were among the prime gainers.
Domestic institutions’ net selling strengthened notably to QR23.63mn compared to QR20.2mn on June 23.
Non-Qatari institutions’ net buying declined substantially to QR19.1mn against QR31.14mn the previous day.
The Gulf funds turned net sellers to the tune of QR0.62mn compared with net buyers of QR0.4mn on Sunday.
The Gulf individual investors’ net buying decreased perceptibly to QR0.31mn against QR2.22mn on June 23.
Non-Qatari individuals were net buyers to the extent of QR6.47mn compared with net sellers of QR0.69mn the previous day.
Local retail investors’ net profit booking fell influentially to QR1.61mn against QR12.87mn on Sunday.
Total trade volume grew 67% to 44.21mn shares, value by 11% to QR220.81mn and transactions by 17% to 5,117.
The industrials sector’s trade volume more than quadrupled to 7.49mn equities, value soared 46% to QR60.08mn and deals by 33% to 1,741.
The consumer goods sector’s trade volume more than quadrupled to 10.77mn stocks, value grew 85% to QR21.39mn and transactions by 67% to 630.
The real estate sector’s trade volume more than doubled to 2.16mn shares and value also more than doubled to QR20.14mn on almost doubled deals to 643.
The banks and financial services sector saw 22% surge in trade volume to 22.07mn equities but on 7% fall in value to QR68.57mn and 30% in transactions to 1,227.
However, the telecom sector’s trade volume plummeted 79% to 0.15mn stocks, value by 40% to QR4.4mn and deals by 43% to 129.
There was 36% plunge in the transport sector’s trade volume to 1.29mn shares and 16% in value to QR39.85mn but on more than doubled transactions to 556.
The insurance sector’s trade volume was down 10% to 0.28mn equities and value by 11% to QR6.37mn, whereas deals jumped 20% to 191.
In the debt market, there was no trading of treasury bills and sovereign bonds.