The Qatar Stock Exchange Sunday opened the week weak and its key index retreated below 10,000 levels, mainly dragged by insurance and real estate equities.
Weakened buying interests of foreign funds and increased net selling pressure from local retail investors led the 20-stock Qatar Index decline 0.8% to 9,942.03 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QATR and QETF declined 0.45% and 0.84% respectively.
The Islamic equities were seen dropping slower than the other indices on the market, which reported 16.64% gains year-to-date.
Trade turnover and volumes were on the increase on the bourse, where banking sector alone accounted for more than 50% of the total volume.
The Total Return Index fell 0.8% to 17,516.75 points, All Share Index by 0.77% to 2,905.04 points and Al Rayan Islamic Index (Price) by 0.42% to 2,381.29 points.
The insurance index shrank 2.04%, realty (1.43%), banks and financial services (0.93%), transport (0.77%), telecom (0.55%) and industrials (0.33%); while consumer goods gained 1.33%.
About 76% of the traded stocks were in the red with major losers being Doha Bank, Commercial Bank, Gulf International Services, Qatar Insurance, Ezdan, Mazaya Qatar, United Development Company, Vodafone Qatar, Milaha and Qatar First Bank; whereas Zad Holding, Woqod and Qatar Oman Investment were among the gainers.
Non-Qatari institutions’ net buying eased considerably to QR36.6mn compared to QR60.79mn the previous trading day.
Local individual investors’ net selling increased influentially to QR34.37mn against QR32.27mn last Thursday.
The Gulf institutions’ net profit booking strengthened perceptibly to QR5.41mn compared to QR1.19mn on September 13.
However, non-Qatari individuals turned net buyers to the tune of QR2.21mn against net sellers of QR2.04mn the previous day.
Domestic institutions were also net buyers to the extent of QR0.63mn compared with net sellers of QR23.63mn last Thursday.
The Gulf individuals turned net buyers to the tune of QR0.34mn against net profit takers of QR1.69mn on September 13.
Total trade volume rose 14% to 6.06mn shares and value by 7% to QR197.52mn, while transactions fell 12% to 2,895.
The insurance sector’s trade volume more than tripled to 0.1mn equities and value also more than tripled to QR3.82mn on 65% increase in deals to 66.
The consumer goods sector’s trade volume doubled to 0.42mn stocks and value more than doubled to QR43.65mn on 70% jump in transactions to 358.
The banks and financial services sector saw 59% surge in trade volume to 3.06mn shares, 20% in value to QR101.45mn and 4% in deals to 1,050.
The telecom sector’s trade volume expanded 12% to 0.64mn equities and value by 16% to QR8.72mn, while transactions were down 9% to 200.
However, there was 43% plunge in the transport sector’s trade volume to 0.27mn stocks, 40% in value to QR9.23mn and 18% in deals to 275.
The industrials sector’s trade volume plummeted 27% to 0.78mn shares, value by 55% to QR18.17mn and transactions by 34% to 592.
The real estate sector reported 24% shrinkage in trade volume to 0.78mn equities, 36% in value to QR12.48mn and 39% in deals to 351.
In the debt market, there was no trading of treasury bills and sovereign bonds.
