The Qatar Stock Exchange Tuesday witnessed violent gyrations for most part of the trading session but finally settled 51 points lower.
The real estate, industrials and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.39% lower at 12,874.6 points, although it touched an intraday high of 12,946 points.
The Gulf institutions were seen increasingly into net profit booking in the market, whose year-to-date gains were at 10.74%.
About 56% of the traded constituents were in the red in the main market, whose capitalisation eroded about QR4bn or 0.529% to QR719.84bn, mainly on the back of small and midcap segments.
The foreign institutions' substantially weakened net buying had its influence in the bourse, where the industrials and banking sectors together accounted for more than 60% of the trading volume.
The foreign individuals’ net buying also weakened in the market, which saw a total of 44,654 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.37mn changed hands across 18 deals.
The Arab individuals turned bearish in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index shed 0.39% to 26,371.37points, the Al Rayan Islamic Index (Price) by 0.53% to 2,772.26 points and the All Share Index by 0.41% to 4,115 points.
The realty sector index shrank 0.75%, industrials (0.72%), telecom (0.5%), transport (0.4%) and banks and financial services (0.37%); while consumer goods and services gained 0.23% and insurance 0.08%.
Major losers in the main market included Medicare Group, Barwa, Qamco, Inma Holding, Mannai Corporation, QNB, Industries Qatar, Ezdan, Qatar Insurance, Ooredoo, Milaha and Nakilat.
Nevertheless, Gulf Warehousing, Al Khaleej Takaful, Zad Holding, Commercial Bank, QLM, Qatar National Cement, Aamal Company, Doha Insurance and Mazaya Qatar were among the gainers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
The Gulf institutions’ net profit booking expanded perceptibly to QR14.31mn compared to QR10.03mn on May 22.
The Arab individuals turned net sellers to the tune of QR1.73mn against net buyers of QR4.84mn on Monday.
The Arab funds were seen net sellers to the extent of QR0.29mn compared with no major net exposure the previous day.
The foreign institutions’ net buying decreased substantially to QR34.01mn against QR149.42mn on May 22.
The foreign individuals’ net buying weakened markedly to QR2.72mn compared to QR4.55mn on Monday.
However, the domestic funds turned net buyers to the extent of QR13.2mn against net sellers of QR71.3mn the previous day.
Qatari individuals’ net selling declined considerably to QR34.73mn compared to QR76.24mn on May 22.
The Gulf individuals turned net buyers to the tune of QR1.12mn against net profit takers of QR1.24mn on Monday.
Total trade volume in the main market fell 23% to 111.26mn shares, value by 28% to QR517.94mn and transactions by 25% to 17,934.
The banks and financial services sector’s trade volume plummeted 36% to 31.64mn equities, value by 30% to QR293.58mn and deals by 30% to 10,096.
The consumer goods and services sector reported a 31% plunge in trade volume to 19.18mn stocks, 36% in value to QR40.67mn and 41% in transactions to 1,030.
The transport sector’s trade volume tanked 29% to 5.26mn shares, value by 25% to QR22.16mn and deals by 44% to 862.
There was a 26% shrinkage in the real estate sector’s trade volume to 9.54mn equities, 42% in value to QR12.42mn and 45% in transactions to 638.
The industrials sector’s trade volume was down 10% to 35.2mn stocks and value by 6% to QR110.31mn, whereas deals expanded 6% to 3,404.
However, the market witnessed a 73% surge in the telecom sector’s trade volume to 5.63mn shares and 43% in value to QR23.79mn but on 18% decline in transactions to 1,341.
The insurance sector’s trade volume shot up 10% to 4.8mn equities, value by 15% to QR15mn and deals by 47% to 563.
In the venture market, trade volumes were seen gaining 28.57% to 0.18mn stocks but on 5% contraction in value to QR0.76mn and 21.54% in transactions to 51.