Domestic funds’ increased net selling drags Qatar’s QSE; M-cap loses $274mln

Domestic funds’ increased net selling drags Qatar’s QSE; M-cap loses $274mln

The Qatar domestic institutions’ increased net profit booking Monday dragged the Qatar Stock Exchange more than 22 points.

A higher than average selling pressure in the consumer goods, transport and banking counters led the 20-stock Qatar Index shed 0.22% to 10,228.84 points.

The market, which was marginally skewed towards shakers, however touched an intraday high of 10,295 points.

The Arab retail investors turned net profit takers in the main market, whose year-to-date losses widened to 4.23%.

However, the foreign funds were increasingly net buyers in the main bourse, whose capitalisation lost QR1.04bn or 0.17% to QR596.74bn, mainly on account of microcap segments.

The local retail investors turned net buyers in the main market, which saw a total of 0.17mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.02mn changed hands across 49 deals.

The Gulf funds were seen increasingly into net buying in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.

The Total Return Index shed 0.22%, All Share Index by 0.17% and Al Rayan Islamic Index (Price) by 0.26% in the main bourse, whose trade turnover and volumes