The Gulf institutions turned net buyers in the Qatar Stock Exchange, which otherwise snapped four days of bullish run to close below 10,800 levels.
The weakened net selling pressure from the domestic funds notwithstanding, the 20-stock Qatar Index settled more than 18 points or 0.17% lower at 10,792.97 points, having touched an intraday high of 10,816 points.
The Gulf individuals’ net profit booking pressure was also seen easing in the market, whose year-to-date gains were contained at 3.42%.
The realty, consumer goods and banking counters witnessed higher-than-average selling pressure in the bourse, whose capitalisation saw more than QR1bn or 0.21% decrease to QR628.63n, mainly owing to microcap segments.
The foreign and Arab individuals turned net sellers in the market, which saw the industrials and real estate sectors together constituted more than 52% of the total trading volume.
The overall trade turnover and volumes were on the decline in the bourse, where the Islamic equities were seen declining faster than the other indices.
Local retail investors were seen increasingly net profit takers in the market, which saw a total of 10,307 exchange traded funds (Masraf Al Rayan sponsored-QATR and Doha Bank-sponsored QETF) valued at QR26,805 changed hands across five deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shed 0.17% to 21,365.33 points, the All Share Index by 0.19% to 3,430.07 points and the Al Rayan Islamic Index (Price) by 0.33% to 2,495.99 points.
The realty sector index shrank 1.23%, consumer goods and services (0.45%), banks and financial services (0.27%) and industrials (0.01%); while telecom gained 0.45%, transport (0.4%) and insurance (0.39%).
More than 65% of the traded constituents were in the red with major losers being Qatar Cinema and Film, United Development Company, Alijarah Holding, Medicare Group, Mannai Corporation, QIIB, Qatar Industrial Manufacturing, Gulf International Services and Investment Holding Group; even as Ooredoo, Al Meera, Qatar Islamic Insurance, Milaha and Qatar General Insurance and Reinsurance were among the gainers.
Qatari individuals’ net profit booking grew noticeably to QR9.02mn against QR5.91mn on June 14.
The foreign individuals turned net sellers to the tune of QR3.28mn compared with net buyers of QR4.94mn on Monday.
The Arab individuals were seen net profit takers to the extent of QR1.69mn.
Foreign funds’ net buying decreased notably to QR28.07mn against QR65.74mn on June 14.
However, the Gulf funds were buyers to the extent of QR6.3mn compared with net sellers of QR0.4mn on Monday.
The domestic funds’ net selling weakened substantially to QR20.34mn against QR63.57mn the previous day.
The Gulf individuals’ net profit booking eased marginally to QR0.05mn compared to QR0.81mn on June 14.
Total trade volume fell 38% to 83.17mn shares, value by 49% to QR208.94mn and transactions by 24% to 6,811.
The transport sector’s trade volume plummeted 51% to 2.12mn equities, value by 65% to QR7.27mn and deals by 28% to 417.
The industrials sector reported a 48% plunge in trade volume to 24.73mn stocks, 58% in value to QR62.45mn and 38% in transactions to 1,718.
The banks and financial services sector’s trade volume tanked 37% to 16.57mn shares, value by 45% to QR67.71mn and deals by 17% to 2,184.
The market witnessed a 32% shrinkage in the consumer goods and services sector’s trade volume to 16.96mn equities, 53% in value to QR25.63mn and 30% in transactions to 826.
The telecom sector’s trade volume shrank 32% to 3.23mn stocks, value by 24% to QR14.39mn and deals by 25% to 627.
There was a 25% contraction in the real estate sector’s trade volume to 18.8mn shares and 20% in value to QR28.26mn but on a 9% jump in transactions to 900.
The insurance sector’s trade volume lost 23% to 0.76mn equities, value by 28% to QR3.21mn and deals by 4% to 139.