The Qatar Stock Exchange on Monday remained under bearish spell for the second consecutive day, mainly on increased net selling pressure from foreign funds.
Domestic funds were also seen bearish as the 20-stock Qatar Index settled 0.26% lower at 9,260.54 points, although it touched a high of 9,297 points within the first 15 minutes of opening.
Transport and banking counters witnessed selling pressure in the bourse, whose year-to-date losses were at 11.17%.
Market capitalisation was nevertheless up more than QR1bn or 0.23% expansion to QR528.71bn mainly owing to microcap segments.
Local and foreign retail investors and turned bullish and there was increased net buying from the Gulf funds in the market, which saw realty, telecom and insurance experience higher net buying.
Trade turnover and volumes were on the increase in the market, where the consumer goods and industrials sectors together accounted for about 60% of the total trading volume.
The Total Return Index shed 0.26% to 17,803.09 points, All Share Index by 0.07% to 2,878.82 points and Al Rayan Islamic Index (Price) by 0.37% to 2,079.73 points.
The transport index declined 0.22% and banks and financial services 0.16%; whereas that of the real estate gained 0.26%, telecom (0.2%) and insurance (0.13%). The index of industrials was rather flat.
Major decliners included QIIB, Qatar Islamic Bank, Dlala, Doha Insurance, Qatar Islamic Insurance, Barwa and Milaha; even as Ahlibank Qatar, Salam International Investment, Qatari German Company for Medical Devices, Widam Food, Qatar National Cement, Aamal Company, Ezdan, Mazaya Qatar and Ooredoo were among the gainers.
Foreign institutions’ net selling increased significantly to QR9.48mn compared to QR0.25mn on June 21.
Domestic funds turned net seller to the tune of QR7.35mn against net buyers of QR6.56mn the previous day.
The Arab individuals’ net profit booking grew notably to QR2.65mn compared to QR1.93mn on Sunday.
However, local retail investors were net buyers to the extent of QR13.37mn against net sellers of QR3.89mn on June 21.
The Gulf funds’ net buying increased considerably to QR5.94mn compared to QR2.12mn the previous day.
Foreign individuals turned net buyers to the tune of QR0.58mn against net sellers of QR0.41mn on Sunday.
The Gulf individuals’ net profit booking weakened perceptibly to QR0.41mn compared to QR2.26mn on June 21.
The Arab institutions had no major exposure.
Total trade volumes grew 27% to 277.31mn shares, value by 25% to QR343.6mn and transactions by 42% to 8,275.
The transport sector’s trade volume almost tripled to 4.82mn equities and value more than doubled to QR12.81mn on more than doubled deals to 282.
The market witnessed 71% surge in the industrials sector’s trade volume to 70.04mn stocks, 75% in value to QR57.3mn and 68% in transactions to 1,837.
The banks and financial services sector’s trade volume soared 56% to 40.55mn shares, value by 68% to QR123.39mn and deals by 65% to 2,357.
The consumer goods and services sector saw 27% increase in trade volume to 96.19mn equities, 30% in value to QR77.3mn and 24% in transactions to 1,790.
However, the insurance sector’s trade volume plummeted 46% to 7.57mn stocks, value by 62% to QR10mn and deals by 31% to 220.
There was 22% plunge in the telecom sector’s trade volume to 1.86mn shares and 7% in value to QR5.84mn but on 77% growth in transactions to 318.
The real estate sector’s trade volume was down 6% to 51.28mn equities and value by 21% to QR57.05mn, while deals expanded 18% to 1,471.
In the debt market, there was no trading of sovereign bonds and treasury bills.
