The Qatar Stock Exchange continued its bearish run for the second straight session on Thursday and its key index fell 18 points, mainly dragged by domestic institutions.
The real estate and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.19% lower at 9,368.29 points although it touched a high of 9,391 points intra-day.
The Arab individuals were seen bearish on the bourse, whose year-to-date losses widened to 10.14%.
Market capitalisation saw more than QR1bn or 0.21% decline to QR548.54bn, mainly owing to midcap segments.
Trade turnover and volumes were on the increase on the market, where the industrials, consumer goods and banking sectors together accounted for about 84% of the total trading volume.
The Total Return Index was down 0.19% to 18,010.23 points, Al Rayan Islamic Index (Price) by 0.01% to 2,115.37 points and All Share Index by 0.16% to 2,924.78 points.
The realty index tanked 1.75%, telecom (1.28%), transport (0.62%) and banks and financial services (0.08%); whereas consumer goods and services gained 0.63%, insurance (0.05%) and industrials (0.01%).
Major losers included Barwa, Ooredoo, Nakilat, Gulf International Services, Qamco, Inma Holding, Doha Bank, Commercial Bank and QNB; whereas Baladna, Al Meera, Salam International Investment, Dlala, Qatar First Bank, Qatar German Company for Medical Devices and Industries Qatar were among the gainers.
Domestic funds’ net profit booking increased significantly to QR7.25mn against QR1.76mn on July 22.
The Arab individuals were net sellers to the tune of QR5.9mn compared with net buyers of QR8.97mn on Wednesday.
Foreign individuals turned net sellers to the extent of QR0.85mn against net buyers of QR8.49mn the previous day.
The Gulf individuals were also net sellers to the tune of QR0.85mn compared with net buyers of QR1.04mn on July 22.
Foreign institutions’ net buying weakened marginally to QR3mn against QR3.16mn on Wednesday.
However, local retail investors were net buyers to the extent of QR13.75mn compared with net sellers of QR16.46mn the previous day.
The Gulf institutions’ net profit booking weakened perceptibly to QR1.85mn against QR3.4mn on July 22.
The Arab institutions continue to have no major exposure.
Total trade volumes rose 49% to 338.96mn shares, value by 25% to QR500.04mn and transactions by 6% to 8,996.
The consumer goods and services sector reported 65% surge in trade volume to 88mn equities and 22% in value to QR128.99mn but on 1% fall in deals to 2,120.
The industrials sector’s trade volume soared 64% to 115.34mn stocks, value by 31% to QR92.26mn and transactions by 7% to 2,019.
The banks and financial services sector saw 54% expansion in trade volume to 80.64mn shares, 18% in value to QR167.89mn and 37% in deals to 2,737.
The real estate sector’s trade volume shot up 16% to 39.41mn equities, value by 85% to QR77.26mn and transactions by 21% to 1,333.
There was 8% jump in the transport sector’s trade volume to 5.54mn stocks and 8% in value to QR15.42mn but on 51% contraction in deals to 270.
However, the insurance sector’s trade volume plummeted 22% to 3.42mn shares, value by 21% to QR6.08mn and transactions by 35% to 187.
The market witnessed 15% shrinkage in the telecom sector’s trade volume to 6.62mn equities, 35% in value to QR12.14mn and 36% in deals to 330.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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