The Qatar Stock Exchange was on a highly volatile mode on Sunday to witness 55 points decline and settle below 9,200 levels.
Strong buying support from domestic funds notwithstanding, the 20-stock Qatar Index shrank 0.59% to 9,145.44 points. The local bourse is, however, up 7.3% year-to-date.
The market touched a high of more than 9,200 points in the first 15 minutes of opening, to see a low of less than 9,140 points towards the end.
Selling was seen pronounced within insurance, telecom, realty, consumer goods and banking counters in the market, whose capitalisation eroded 0.84% to QR500.45bn.
Micro, large and small cap scrips witnessed heavy selling on the bourse, where Islamic equities fell faster than the conventional ones.
Trade turnover fell amidst higher volumes in the bourse, where banking, industrials and real estate sectors together accounted for about 91% of the total volume.
The Total Return Index shed 0.59% to 15,336.36 points, All Share Index by 0.88% to 2,589.05 points and Al Rayan Islamic Index by 0.96% to 3,627.78 points.
The insurance index tanked 2.93%, telecom (1.22%), realty (1.02%), consumer goods (0.99%), banks and financial services (0.97% and industrials (0.33%); while transport gained 0.99%.
Some three-fourth of the traded stocks ended in the red with major losers being Qatar Insurance, Mazaya Qatar, Ooredoo, QNB, Commercial Bank, Medicare Group, Industries Qatar, Aamal Company, Qatari Investors Group and Ezdan.
Nevertheless, Doha Bank, Qatar First Bank, Qatar Electricity and Water, Nakilat and Milaha were among the gainers.
The Gulf institutions’ net profit booking grew substantially to QR11.62mn compared to QR6.72mn last Thursday.
Non-Qatari funds turned net sellers to the tune of QR5.21mn against net buyers of QR34.44mn the previous trading day.
Non-Qatari retail investors were also net sellers to the extent of QR1.32mn compared with net buyers of QR2.64mn on January 18.
However, domestic institutions’ net buying increased considerably to QR29.28mn against QR6.57mn last Thursday.
The Gulf retail investors turned net buyers to the tune of QR0.39mn compared with net sellers of QR2.33mn the previous trading day.
Local individuals’ net profit booking declined impressively to QR11.46mn against QR34.56mn on January 18.
Total trade volume rose 7% to 11.87mn shares, while value fell 16% to QR203.47mn and deals by 18% to 3,293.
The consumer goods sector reported 55% plunge in trade volume to 0.34 equities, 55% in value to QR25.41mn and 42% in transactions to 439.
The transport sector’s trade volume plummeted 42% to 0.14mn stocks, value by 33% to QR4.3mn and deals by 37% to 120.
The market witnessed 26% shrinkage in the telecom sector’s trade volume to 0.55mn shares, 39% in value to QR9.41mn and 17% in transactions to 304.
The insurance sector’s trade volume tanked 22% to 0.07mn equities, value by 13% to QR3.96mn and deals by 51% to 46.
There was 10% decline in the real estate sector’s trade volume to 1.59mn stocks, 4% in value to QR22.39mn and 24% in transactions to 463.
The industrials sector’s trade volume was down 5% to 2.96mn shares, value by 15% to QR39mn and deals by 6% to 705.
However, the banks and financial services sector saw 42% surge in trade volume to 6.23mn equities and 10% in value to QR98.99mn but on 2% fall in transactions to 1,216.
In the debt market, there was no trading of treasury bills and sovereign bonds.