Domestic funds and local retail investors were seen as net buyers on the Qatar Stock Exchange, which otherwise closed in negative yesterday, ending three consecutive days of bullish trajectory.
Foreigners continued to be net buyers but with less intensity even though the Qatar 20-stock index was 50 points or 0.46% lower at 10,754.48 points, after peaking intraday of 10,808 points.
Widespread profit taking, especially at insurance and banking outlets, weighed on the market, whose cumulative gains were contained at 3.05%.
Foreign and Gulf institutions were seen as net sellers on the exchange, whose capitalization saw a decline of around QR 3 billion or 0.45% to QR 626.3 billion, mainly due to the segments of the medium and small caps.
Arab individuals were also seen as net sellers in the market, which saw the industrial sector alone constitute around 46% of the total volume of trade.
Overall turnover declined amid higher volumes in the market, where Islamic stocks declined more slowly than other indexes.
Gulf retail investors were increasingly interested in reserving net profits on the exchange, which saw a total of 36,842 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Doha Bank) rated. at QR 259,854 on nine transactions; while in the debt market there was no trading of sovereign bonds and treasury bills.
The total return index fell 0.46% to 21,289.15 points, the All Share index fell 0.45% to 3,419.76 points and the Islamic Al Rayan index (price) fell 0.32 % at 2,510.14 points.
The insurance sector index fell 0.68%, banks and financial services (0.57%), telecoms (0.43%), consumer goods and services (0.34%), real estate (0.32%), transport (0.27%) and manufacturers (0.21%). .
Over 76% of components traded were in the red, with the main losers being Qatar Cinema and Film, Qatar General Insurance and Reinsurance, Commercial Bank, Qatar Oman Investment, Inma Holding, Dlala and Aamal Company; although Gulf International Services, Doha Insurance, Qatar Industrial Manufacturing, Gulf Warehousing and QLM were among the winners.
Gulf institutions turned net sellers of QR 7.42 million against net buyers of QR 13.08 million on June 2.
Arab individuals were also net sellers of QR 5.01 million against net buyers of QR 1.54 million the day before.
Foreign funds became net profit takers of QR 2.04million against net buyers of QR 56.09million on Wednesday.
In particular, Gulf retail net sales increased to QR 1.55 million from QR 0.27 million on June 2.
Net purchases by foreign individuals fell sharply to 4.81 million QR against 10.49 million QR the day before.
However, domestic funds were net buyers of QR 9.05 million against net sellers of QR 48.96 million on Wednesday.
Qatari individuals became net buyers at QR 2.16 million against net sellers of QR 31.84 million on June 2.
Arab funds had no major net exposure against net profit takers to the tune of QR 0.18 million the day before.
Total trade volume increased 10% to 190.96 million shares, while value fell 10% to QR407.53 million and trades 11% to 9,647.
There was a 68% increase in real estate trading volume to 34.81 million shares, 76% in value to QR57.51 million and 28% in trades to 1,049.
The industrial sector’s trade volume climbed 36% to 87.47 million shares, the value 23% to QR153.01 million, and trades 16% to 3,237.
However, the market saw a 56% drop in transport sector trade volume to 1.28 million shares, 56% in value to QR 5.08 million and 35% in trades to 249.
The trading volume of the banking and financial services sector fell 40% to 25.14 million shares, the value by 47% to 106.46 million QR and transactions by 37% to 2,641.
The telecommunications sector reported an 11% contraction in trade volume to 6.13 million shares, but a 2% increase in value to QR 25.32 million despite a 14% drop in trades to 1 080.
The volume of trade in the consumer goods and services sector fell 1% to 34.49 million shares, while the value gained 4% to QR55.34 million despite a 1% decline in transactions to 1,198 .
The insurance sector’s trade volume was stable at 1.64 million shares but a contraction of 3% in value to QR 4.81 million and 9% of transactions to 193.