The Qatar Stock Exchange fell for the 11th consecutive day to settle a little below 8,300 points even as local retail investors were seen increasingly bullish.
Notwithstanding buying interests in some of the realty and banking scrips, the 20-stock Qatar Index fell 1.15% to touch a five-year low of 8,278.76 points.
Foreign institutions’ bearish grip weakened further in the market, whose year-to-date losses were seen at 20.68%.
However, Gulf institutions and retail investor turned bearish in the bourse, whose capitalisation fell 0.89% to 452.48bn.
Islamic equities were seen declining faster than the main index and other indices in the market, which saw weakened net buying interests from domestic funds and non-Qatari individuals.
The weakened net selling since the beginning led the market touch a low of about 8,250 points within the first 90 minutes, after which it was generally on a slow upward path but to see some last minute profit-booking, thus settling the index 96 points lower.
Trade turnover and volumes were on the increase in the market, where banking, industrials and telecom sectors together accounted for about 82% of the total volume.
The Total Return Index fell 1.15% to 13,882.98 points, the Al Rayan Islamic Index by 0.93% to 3,325.93 points and the All Share Index by 0.97% to 2,364.36 points.
The insurance index plunged 3.18%, followed by transport (1.45%), industrials (1.23%), banks and financial services (0.98%), consumer goods (0.23%) and telecom (0.09%); while realty gained 0.05%.
Major gainers included Gulf Warehousing, Ezdan, Mazaya Qatar, Dlala, Islamic Holding Group, Al Khaleej Takaful and Qatar Islamic Insurance; even as Qatar Islamic Bank, Qatar First Bank, Industries Qatar, Nakilat, Barwa and Qatari Investors Group were among the losers.
Local retail investors’ net buying increased substantially to QR6.06mn compared to QR0.25mn on September 17.
Non-Qatari institutions’ net profit-booking fell perceptibly to QR8.16mn against QR12.52mn the previous day.
However, the GCC (Gulf Cooperation Council) funds turned net sellers to the tune of QR2.83mn compared with net buyers of QR0.48mn on Sunday.
The GCC retail investors were also net profit-takers to the extent of QR0.69mn against net buyers of QR0.64mn on September 17.
Domestic institutions’ net buying weakened influentially to QR4.7mn compared to QR8.35mn the previous day.
Non-Qatari individual investors’ net buying fell considerably to QR0.94mn against QR2.78mn on Sunday.
Total trade volume rose 41% to 11.13mn shares, value by 43% to QR187.16mn and deals by 30% to 2,383.
The banks and financial services sector’s trade volume more than tripled to 3.87mn equities and value more than doubled to QR90.02mn on more-than-doubled transactions to 892.
The industrials sector’s trade volume almost tripled to 2.91mn stocks and value soared 71% to QR34.76mn, while deals were down 4% to 610.
The insurance sector’s trade volume more than doubled to 0.05mn shares and value also more than doubled to QR2.83mn on more-than-doubled transactions to 73.
There was a 50% surge in the transport sector’s trade volume to 0.54mn equities, 21% in value to QR15.28mn and 8% in deals to 312.
The real estate sector’s trade volume rose 4% to 1.4mn stocks, value by 13% to QR17.69mn and transactions by 57% to 227.
However, the consumer goods sector witnessed a 57% plunge in trade volume to 0.03mn shares and 69% in value to QR1.61mn but on 2% rise in deals to 98.
The telecom sector’s trade volume plummeted 41% to 2.33mn equities, value by 32% to QR24.98mn and transactions by 20% to 171.
In the debt market, there was no trading of treasury bills and government bonds.
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