More than 93% of the traded stocks were in the red as Qatar Stock Exchange on Monday fell for the second day by a huge 124 points to settle below the 9,600 mark, reflecting the weak oil prices in the world market.

An across the board selling -- particularly in telecom, banking and transport counters – led the 20-stock plunge 1.28% to 9,552.04 points amidst increasing trading turnover and volumes.

Foreign institutions were seen largely squaring off their position in the market, which is down 8.41% year-to-date.

Large, mid and microcaps were the worst hit in the bourse, where banking, industrials and realty stocks together constituted about 79% of the total trading volume.

Market capitalisation eroded 1.21% or more than QR6bn to QR517.89bn as large, mid, micro and small cap equities losing 1.43%, 1.42%, 1.32% and 0.41% respectively.

The Total Return Index shed 1.28% to 15,454.57 points, All Share Index by 1.21% to 2,676.31 points and Al Rayan Islamic Index by 1.07% to 3,753.11 points.

Telecom stocks shrank 2.39%, banks and financial services (1.55%), transport (1.34%), industrials (1.01%), real estate (0.84%), consumer goods (0.81%) and insurance (0.31%).

Major losers included Ooredoo, Vodafone Qatar, QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, Masraf Al Rayan, Industries Qatar, Gulf International Services, Qatari Investors Group, Barwa, Mazaya Qatar and Nakilat; even as Salam International Investment and Qatar General and Reinsurance bucked the trend.

Non-Qatari institutions turned net seller to the tune of QR27.66mn compared with net buyers of QR3.2mn on Sunday.

The GCC (Gulf Cooperation Council) individual investors’ net selling increased to QR6.26mn against QR0.52mn on May 29.

The GCC institutions’ net buying weakened to QR1.41mn compared to QR3.2mn the previous day.

However, local retail investors’ net buying strengthened to QR19.43mn against QR3.08mn on Sunday.

Domestic institutions turned net buyers to the extent of QR13.83mn compared with net buyers of QR6.97mn on May 29.

Non-Qatari individual investors’ net profit booking declined to QR0.77mn against QR1.99mn the previous day.

Total trade volume rose 83% to 3.59mn shares to more than double value to QR134.53mn on 72% surge in deals to 2,601.

The banks and financial services sector’s trade volume more than doubled to 1.25mn equities and value almost tripled to QR44.06mn on 72% increase in transactions to 666.

The insurance sector’s trade volume more than doubled to 0.14mn stocks and value also more than doubled to QR9.77mn on 49% rise in deals to 85.

The real estate sector’s trade volume almost doubled to 0.7mn shares and value more than doubled to QR14.59mn on almost doubled transactions to 373.

There was 67% surge in the transport sector’s trade volume to 0.2mn equities, 81% in value to QR6.18mn and 32% in deals to 129.

The industrials sector’s trade volume soared 63% to 0.88mn stocks, value by 84% to QR39.13mn and transactions by 49% to 603.

The telecom sector reported 26% expansion in trade volume to 0.24mn shares but more than doubled value to QR11.48mn on more than doubled deals to 546.

The consumer goods sector’s trade volume increased 20% to 0.18mn equities, value by 10% to QR9.32mn and transactions by 29% to 199.

In the debt market, there was no trading of treasury bills and government bonds.

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