An across the board selling – particularly at the telecom and industrials counters – led the 20-stock Qatar Index to plunge 1.16% to 10,034.26 points, although it touched an intraday high of 10,092 points.
An across the board selling – particularly at the telecom and industrials counters – led the 20-stock Qatar Index to plunge 1.16% to 10,034.26 points, although it touched an intraday high of 10,092 points.
The Gulf institutions were seen increasingly into net selling in the main market, whose year-to-date losses widened further to 7.35%.
More than 79% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR8.14bn or 1.38% to QR580.26n on the back of large and midcap segments.
The local individuals were increasingly net profit takers in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across four deals.
The foreign institutions’ substantially weakened net buying had its influence in the main bourse, which saw no trading of treasury bills.
However, the domestic funds were net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the sloppy path.
The Total Return Index shed 0.82%, the All Islamic Index by 0.95% and the All Share Index by 0.78% in the main market.
The telecom sector index plummeted 2.38%, industrials (1.1%), real estate (0.69%), transport (0.62%), consumer goods and services (0.6%), banks and financial services (0.57%) and insurance (0.3%).
Major shakers in the main market included Ooredoo, QNB, Zad Holding, Qatar Electricity and Water, Widam Food, Commercial Bank, Al Meera, Industries Qatar, Ezdan, Vodafone Qatar, Gulf Warehousing and Nakilat.
In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.
Nevertheless, Doha Bank, Qatar Oman Investment, Qatari Investors Group, Gulf International Services and Widam Food were among the gainers in the main bourse.
The Gulf institutions’ net profit booking increased perceptibly to QR11.32mn compared to QR8mn on July 17.
The Qatari individual investors’ net selling expanded noticeably to QR7.99mn against QR0.74mn on Wednesday.
The foreign institutions’ net buying declined significantly to QR7.21mn compared to QR45.43mn the previous day.
The Gulf individual investors’ net buying weakened marginally to QR0.34mn against QR0.65mn on July 17.
However, the domestic institutions turned net buyers to the tune of QR8.01mn compared with net sellers of QR20.95mn on Wednesday.
The Arab retail investors were net buyers to the extent of QR3.41mn against net profit takers of QR5.99mn the previous day.
The foreign individuals turned net buyers to the tune of QR0.34mn compared with net sellers of QR10.39mn on July 17.
The Arab institutions continued to have no major net exposure for the fourth straight session.
Trade volumes in the main market were down 5% to 177.7mn shares and value by 1% to QR472.14mn, while transactions rose 12% to 19,270.
The venture market saw 32% plunge in trade volumes to 0.53mn equities, 33% in value to QR1.13mn and 38% in deals to 60.
