The Qatar Stock Exchange on Thursday declined 0.51%, reflecting global cues after the US Federal Reserve hiked the reference rate by 0.75% in order to tame the 40-year high inflation.
A higher than average selling pressure at the industrials, transport and banking counters led the 20-stock Qatar Index to shrink 65 points to 12,562.05 points, although it touched an intraday high of 12,671 points.
The Gulf funds were seen net profit takers in the market, whose year-to-date gains were at 8.05%.
The foreign institutions’ weakened net buying also had its influence in the bourse, whose capitalisation saw more than QR5bn or 0.73% decline to QR705.8bn, mainly on the back of mid and small cap segments.
The Islamic index was seen declining slower than the other indices in the market, where the industrials and banking sectors together constituted about 79% of the total trading volume.
The foreign individuals turned bearish in the bourse, which saw a total of 335,057 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.06mn changed hands across 55 deals.
The Arab individuals’ net buying slackened in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 0.51% to 25,731.15 points, the All Share Index by 0.62% to 4,019.32 points and the Al Rayan Islamic Index (Price) by 0.17% to 2,753.61 points.
The industrials sector index tanked 0.93%, transport (0.89%), banks and financial services (0.8%) and real estate (0.2%); while consumer goods and services gained 0.78%, telecom (0.51%) and insurance (0.27%).
About 60% of the traded constituents were in the red with major shakers being Qatar First Bank, Industries Qatar, Zad Holding, Qatar Industrial Manufacturing, QNB, Qatar Islamic Bank, Mannai Corporation, Qamco, Qatar Islamic Insurance, Al Khaleej Takaful, Ezdan, United Development Company and Milaha.
In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Doha Insurance, Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance, QIIB, Woqod, Widam Food, Baladna, Aamal Company and Barwa were among the gainers in the main market.
The Gulf funds turned net sellers to the tune of QR20.72mn compared with net buyers of QR0.15mn on June 15.
The foreign individuals were net sellers to the extent of QR17.15mn against net buyers of QR3.18mn on Wednesday.
The foreign funds’ net buying declined substantially to QR37.88mn compared to QR90.58mn the previous day.
The Arab individuals’ net buying weakened perceptibly to QR5.49mn against QR6.55mn on June 15.
The Arab institutions’ net buying decreased noticeably to QR0.33mn compared to QR1.81mn on Wednesday.
However, the domestic funds turned net buyers to the tune of QR9.61mn against net sellers of QR67.81mn the previous day.
The Gulf individuals’ net buying grew marginally to QR1.61mn compared to QR1.22mn on June 15.
Qatari individuals’ net profit booking shrank considerably to QR17.05mn against QR35.68mn on Wednesday.
Total trade volume in the main market more than tripled to 378.97mn shares and value also more than tripled to QR2.43bn on 11% increase in transactions to 26,542.
The banks and financial services sector’s trade volume grew more than five-fold to 220.35mn equities and value more than quadrupled to QR1.88bn on 17% jump in deals to 16,970.
The real estate sector’s trade volume more than tripled to 35.55mn stocks and value also more than tripled to QR69.52mn, whereas transactions were down 11% to 793.
The insurance sector’s trade volume more than doubled to 4.03mn shares and value also more than doubled to QR10.08mn on 67% growth in deals to 532.
The telecom sector’s trade volume more than doubled to 6.82mn equities and value also more than doubled to QR32.93mn on 5% expansion in transactions to 1,309.
The transport sector’s trade volume more than doubled to 14.13mn stocks and value also more than doubled to QR62.47mn, while deals shrank 6% to 1,123.
The market witnessed 87% surge in the industrials sector’s trade volume to 77.28mn shares and 88% in value to QR261.35mn but on 5% shrinkage in transactions to 4,426.
The consumer goods and services sector’s trade volume zoomed 37% to 20.81mn equities and value almost tripled to QR107.56mn on 16% higher deals to 1,389.
In the venture market, trade volumes were seen growing 2% to 0.53mn stocks and value by 40% to QR3.92mn on more than doubled transactions to 216.