Strong buying support from domestic and foreign funds notwithstanding, the Qatar Stock Exchange settled lower at sub-8,000 levels.
An across-the-board selling led the 20-stock Qatar Index decline 1.05% for the fourth straight session to 7,930.78 points.
Local retail investors’ strengthened profit booking pressure rather subdued the market, whose year-to-date losses are at 24.01%.
Islamic equities fell faster than other indices on the bourse, whose capitalisation declined 1.21% to QR429.34bn.
Trade turnover expanded amidst lower volumes in the market, where banking and industrials sectors together accounted for about 65% of the total volume.
The Total Return Index shed 1.05% to 13,299.46 points, All Share Index fell 1.45% to 2,198.2 points and Al Rayan Islamic Index by 2.59% to 3,029.83 points.
The consumer goods index plunged 3.86%, realty (2.81%), transport (2.56%), industrials (1.9%), telecom (0.78%), banks and financial services (0.61%) and insurance (0.2%).
Major gainers included QNB and Al Khaleej Takaful; while Qatar First Bank, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Vodafone Qatar, Gulf Warehousing, Nakilat, Milaha and Islamic Holding Group were among the losers.
Non-Qatari institutions’ net buying rose impressively to QR38.39mn compared to QR22.35mn the previous day.
Domestic institutions turned net buyers to the tune of QR17.61mn against net sellers of QR19.63mn on November 6.
However, local retail investors’ net profit booking increased substantially to QR42.95mn compared to QR5.53mn on Monday.
Non-Qatari individual investors’ net selling strengthened considerably to QR9.86mn against QR1.93mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net sellers to the extent of QR2.59mn compared with net buyers of QR4.53mn on November 6.
The GCC retail investors were net profit takers to the tune of QR0.6mn against net buyers of QR0.19mn on Monday.
Total trade volume fell 8% to 8.54mn shares, while value rose 31% to QR273.04mn and deals by 31% to 3,969.
There was 68% plunge in the telecom sector’s trade volume to 0.56mn equities and 41% in value to QR10.67mn but on 10% rise in transactions to 306.
The insurance sector’s trade volume plummeted 57% to 0.13mn stocks and value by 13% to QR3.99mn, while deals grew 47% to 97.
The real estate sector reported 50% shrinkage in trade volume to 1.03mn shares, 24% in value to QR18.97mn and 13% in transactions to 442.
The consumer goods sector’s trade volume tanked 41% to 0.22mn equities and value by 23% to QR16.56mn, whereas deals rose less than 1% to 288.
However, the transport sector saw 65% surge in trade volume to 1.04mn stocks, 37% in value to QR31.02mn and 93% in transactions to 445.
The banks and financial services sector’s trade volume soared 37% to 2.8mn shares, value by 94% to QR148.52mn and deals by 44% to 1,444.
The market witnessed 28% increase in the industrials sector’s trade volume to 2.74mn equities, 10% in value to QR43.3mn and 44% in transactions to 947.
In the debt market, there was no trading of treasury bills and sovereign bonds.
