Profit booking was seen intense within realty, consumer goods and industrials counters as the 20-stock Qatar Index shed 1.24% at 9,842.85 points with global oil prices plunging 5%, ever since the UK voted to delink from the European Union.
"We expect the GCC (Gulf Cooperation Council) markets to witness similar selling pressure in early trades, as global peers witnessed on Friday. We also expect Brexit related news and its impact on oil to be key focus areas for GCC markets in the near term," Kamco said in its research note.
Selling was seen more pronounced in the mid and microcap equities in the bourse, which is down 5.62% year-to-date.
Domestic institutions and non-Qatari individual investors turned bearish and there was increased net selling by Gulf retail investors in the market, where trading turnover and volumes were on the rise.
The index that tracks Shariah-principled stocks was seen declining faster than the other indices in the bourse, where industrials, banking and real estate stocks together constituted more than 73% of the total trading volume.
Market capitalisation declined 1.27% or about QR7bn to QR530.52bn as mid, micro, large and small cap equities shed 1.89%, 1.33%, 0.97% and 0.48% respectively.
The Total Return Index declined 1.24% to 15,925.08 points, All Share Index by 1.24% to 2,737.37 points and Al Rayan Islamic Index by 1.64% to 3,807.76 points.
Realty stocks tanked 2.1%, consumer goods (1.43%), industrials (1.34%), telecom (1.14%), banks and financial services (1.13%) and transport (0.93%); whereas insurance gained 0.67%.
As much as 85% of the stocks were in the red with major losers being Mazaya Qatar, Ezdan, Barwa, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Vodafone Qatar, QNB, Qatar Islamic Bank, Doha Bank, Commercial Bank, QIIB, Alijarah Holding, Qatari German Company for Medical Devices, Widam Food, Industries Qatar and Nakilat.
Domestic institutions turned net sellers to the tune of QR3.01mn compared with net buyers of QR0.69mn on June 23.
Non-Qatari individual investors were also net sellers to the extent of QR7.08mn against net buyers of QR0.28mn last Thursday.
The GCC (Gulf Cooperation Council) individual investors’ net selling rose to QR4.36mn compared to QR0.18mn the previous trading day.
However, non-Qatari institutions’ net buying increased to QR15.98mn against QR11.61mn on June 23.
The GCC institutions turned net buyers to the tune of QR0.61mn compared with net sellers of QR1.22mn last Thursday.
Local retail investors’ net profit booking weakened considerably to QR2.14mn against QR11.19mn the previous trading day.
Total trade volume rose 97% to 4.78mn shares, value by 63% to QR136.22mn and deals by 72% to 2,447.
The consumer goods sector’s trade volume grew almost five-fold to 0.51mn equities and value more than tripled to QR18.51mn on more than doubled transactions to 324.
The industrials sector’s trade volume more than quadrupled to 1.37mn stocks and value more than doubled to QR48.67mn on more than doubled deals to 737.
The telecom sector’s trade volume more than doubled to 0.63mn shares, value soared 83% to QR9.21mn and transactions by 33% to 193.
The transport sector’s trade volume surged 86% to 0.13mn equities, more than doubling value to QR5.17mn and almost tripling deals to 130.
The banks and financial services sector reported 43% expansion in trade volume to 1.4mn stocks, 3% in value to QR36.93mn and 18% in transactions to 636.
The real estate sector’s trade volume shot up 21% to 0.7mn shares, value by 23% to QR15.41mn and deals by 48% to 381.
However, there was 20% shrinkage in the insurance sector’s trade volume to 0.04mn equities and 36% in value to QR2.31mn but on 39% increase in transactions to 46.
In the debt market, there was no trading of treasury bills and government bonds.
