The Qatar Stock Exchange on Monday lost more than 77 points as the Gulf funds were increasingly seen squaring off their position.
The telecom, industrials and banking counters saw higher than average selling pressure as the 20-stock Qatar Index settled 0.78% lower at 9,845.17 points, although it touched a high of 9,932 points intraday.
The foreign institutions’ increased net selling also had its role in dampening the market, whose year-to-date losses were at 5.57%.
Market capitalisation saw about QR6bn or about 1% decrease to QR570.04bn, mainly owing to large and midcap segments.
A total of 38,830 exchange traded funds (both QATR and QETF) valued at QR133,484 changed hands across eight transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover grew amidst lower volumes in the market, where the industrials and consumer goods sectors together accounted for more than 67% of the total trading volume.
The Total Return Index shrank 0.78% to 18,927.01 points, All Share Index by 0.88% to 3,048.07 points and Al Rayan Islamic Index (Price) by 0.72% to 2,276.93 points.
The telecom index tanked 1.35%, industrials (1.18%), banks and financial services (1.14%) and transport (0.09%); while insurance gained 0.54%, consumer goods and services (0.13%) and real estate (0.1%).
As much as 60% of the traded constituents were in the red with the major losers being Industries Qatar, QNB, Ezdan, Qatar Islamic Insurance, Ooredoo, Vodafone Qatar, Al Meera, Qatar Islamic Bank, Qatar First Bank, Nakilat and Gulf International Services.
Nevertheless, Salam International Investment, Aamal Company, Ahlibank Qatar, Milaha, Investment Holding Group, Qatar German Company for Medical Devices, Baladna and Qatar Insurance were among the gainers.
The Gulf institutions turned net sellers to the tune of QR113.13mn against net buyers of QR13.17mn on August 30.
Foreign funds’ net profit booking increased significantly to QR69.76mn compared to QR25.87mn on Sunday.
The Arab individuals’ net buying declined markedly to QR13.19mn against QR22.56mn the previous day.
Foreign individuals’ net buying also weakened notably to QR2.3mn compared to QR7.47mn on August 30.
However, domestic institutions’ net buying grew significantly toQR117.03mn against QR0.05mn on Sunday.
Local individuals turned net buyers to the extent of QR46.64mn compared with net sellers of QR15.2mn the previous day.
The Gulf individuals were net buyers to the tune of QR3.81mn against net profit takers of QR2.13mn on August 30.
The Arab funds continued to have no major exposure.
Total trade volumes fell 1% to 407.08mn shares, while value grew 49% to QR794.98mn and transactions by 24% to 12,833.
The telecom sector’s trade volume plummeted 62% to 13.14mn equities, value by 39% to QR28.77mn and deals by 8% to 704.
The real estate sector reported a 50% plunge in trade volume to 48.62mn stocks, 47% in value to QR77.88mn and 24% in transactions to 1,654.
However, the insurance sector’s trade volume more than tripled to 2.93mn shares and value also more than tripled to QR5.4mn on more than doubled deals to 176.
There was a 48% surge in the consumer goods and services sector’s trade volume to 120.4mn equities, 94% in value to QR133.49mn and 44% in transactions to 2,288.
The transport sector’s trade volume shot up 22% to 11.2mn stocks, value by 41% to QR39.82mn and deals by 14% to 756.
The industrials sector reported a 16% jump in trade volume to 153.51mn shares, 71% in value to QR202.12mn and transactions by 34% to 3,821.
The banks and financial services sector’s trade volume was up 3% to 56.93 equities and value more than doubled to QR307mn on 55% growth in deals to 3,434.
