By Santhosh V Perumal Business Reporter Ahead of National Day holidays, the Qatar Exchange yesterday witnessed selling pressure, mainly on net selling by local retail investors. The bourse, which will be closed today and tomorrow and resumes trading on Sunday, saw its 20-stock Qatar Index (based on price data) fell for the second day by 0.06% to 10,468.59 points with real estate and industrials stocks suffering the most. The sustained bearish pressure came after a meeting of Supreme Council of Economic Affairs where a presentation was made regarding the offering of shares worth QR50bn of several state-owned companies to Qataris over a period of 10 years. Finance Minister HE Ali Sherif al-Emadi said on Sunday the first phase of the programme would begin by offering shares of Mesaieed Petrochemical Holding , a firm that comprises three major industrial companies Q-Chem I, Q-Chem 2 and Qatar Vinyl Company . The Qatari bourse's key index has been remaining above the 10,000 mark for the 27th consecutive day. The index that tracks Shariah-compliant stocks was seen to lose its sheen faster than the other key barometers. However, domestic and foreign institutions as well as local retail investors were seen to be net buyers in the market, which is up 25.24% year-to-date. More than 55% of the stocks were in the red with influential losers being Commercial Bank , Industries Qatar , Gulf International Services , Barwa, United Development Company and Vodafone Qatar . However, Doha Bank , QNB, Qatari Investors Group and Nakilat bucked the trend. The 20-stock Total Return Index was down 0.06% to 14,957.22 points, the All Share Index (with wider constituents) by 0.02% to 2,610.23 and the Al Rayan Islamic Index by 0.1% to 3,066.43. All the three indices factored in dividend income as well. Realty stocks fell 0.38%, followed by industrials (0.3%) and banks and financial services (0.03%); whereas transport gained 0.6%, consumer goods (0.45%) and telecom (0.3%). Insurance stocks were unchanged. Market capitalisation stood at QR559.36bn. Qatari individual investors were net sellers to the extent of QR10.11mn; while non-Qatari institutions were net buyers to the tune of QR6.16mn. Domestic institutions were net buyers to the extent of QR3mn and their foreign counterparts' net buying was QR0.95mn. A total of 5.12mn stocks worth QR202.69mn changed hands across 3,340 transactions. The banks and financial services sector – which has 12 constituents - saw a total of 1.38mn shares valued at QR86.13mn traded across 1,251 deals. The telecom sector – which has two entities - witnessed a total of 1.25mn equities worth QR20.7mn change hands across 360 transactions. The real estate sector – which has four companies – saw a total of 1.23mn stocks valued at QR28.2mn trade across 417 deals. The industrials sector – which comprise eight constituents – reported 0.6mn shares worth QR41.77mn change hands across 913 transactions. The transport sector – which has three entities – registered 0.33mn equities valued at QR8.83mn trade across 142 deals. The consumer goods and services – which has eight companies under it – saw a total of 0.32mn stocks worth QR16.25mn change hands across 241 transactions. In the insurance sector – which has five listed companies – a total of 0.01mn shares valued at QR0.81mn traded across 16 deals. In the debt market, there was no trading of treasury bills and government bonds.
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