The Qatar Stock Exchange saw local retail investors turn net buyers but overall it plummeted 228 points to settle below 9,000 levels.

An across the board profit-booking – particularly in transport and insurance – drove the 20-stock Qatar Index down 2.48% to 8,946.97 points.

Although the index stood above 9,200 points for most part of the day, a sudden selling spree, especially in the last few minutes, seemingly reflected the airspace dispute between Qatar and the UAE.

Selling was more pronounced in mid and large cap stocks in the market, whose capitalisation shrank 1.98% to QR494.4bn.

Trade turnover and volumes were on the rise in the bourse, where banking and industrials sectors together accounted for more than 74% of the total volume.

The Total Return Index plunged 2.48% to 15,003.55 points, the All Share Index by 2.18% to 2,565.91 points and the Al Rayan Islamic Index by 3.15% to 3,570.67 points.

The transport index tanked 4.93%, followed by insurance (3.66%), industrials (2.45%), banks and financial services (1.96%), telecom (1.84%), consumer goods (1.59%) and realty (1.2%).

Major losers included Qatar Insurance, Milaha, Gulf Warehousing, Vodafone Qatar, Nakilat, Industries Qatar, Mesaieed Petrochemical Holding, Aamal Company, Qatar Electricity and Water, Qatar Islamic Bank, Masraf Al Rayan and Alijarah Holding.

Local individuals turn net buyers to the tune of QR21.49mn compared with net sellers of QR35.14mn on January 14.

Non-Qatari retail investors’ net profit-booking declined perceptibly to QR6.45mn against QR13.18mn the previous day.

However, non-Qatari funds turned net sellers to the extent of QR10.09mn compared with net buyers of QR12.88mn on Sunday.

Gulf institutions were also net sellers to the tune of QR4.52mn against net buyers of QR2.15mn on January 14.

Domestic institutions turned net profit-takers to the extent of QR1.21mn compared with net buyers of QR32.28mn the previous day.

Gulf retail investors’ net buying weakened marginally to QR0.75mn against QR0.97mn on Sunday.

Total trade volume rose 24% to 20.88mn shares, value by 42% to QR418.84mn and deals by 33% to 5,733.

The industrials sector’s trade volume more than doubled to 7.07mn equities and value almost doubled to QR99.31mn on a 76% increase in transactions to 1,686.

The insurance sector’s trade volume soared 88% to 0.32mn stocks and value by 22% to QR6.32mn on almost tripled deals to 107.

The transport sector reported a 27% surge in trade volume to 0.52mn shares, 20% in value to QR13.61mn and 21% in transactions to 318.

The real estate sector’s trade volume shot up 10% to 2.23mn equities, value by 18% to QR39.63mn and deals by 14% to 710.

There was an 8% expansion in the consumer goods sector’s trade volume to 0.52 stocks, 7% in value to QR29.01mn and 8% in transactions to 441.

The telecom sector’s trade volume was up 7% to 1.77mn shares, value by 52% to QR32.36mn and deals by 40% to 459.

However, the banks and financial services sector saw a 7% shrinkage in trade volume to 8.46mn equities but on a 37% jump in value to QR198.58mn and 19% in transactions to 2,012.

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