The Qatar Stock Exchange opened the week weak as its key index lost more than 48 points, mainly on selling pressure within banking and real estate counters.
Local retail investors turned bearish and there was weakened net buying interests from foreign funds as the 20-stock Qatar Index settled 0.46% lower for the second day at 10,518.2 points.
Gulf individuals, however, turned bullish in the market, whose key benchmark closed 2.13% higher year-to-date.
Market capitalisation shed QR3bn, or 0.5%, to QR579.08bn mainly owing to small and microcap segments.
Islamic equities were seen declining faster than the other indices in the market, where the domestic and Gulf funds continued to be net sellers but with lesser intensity.
Trade turnover and volumes were on the decline in the bourse, where the banking, realty and industrials sectors together accounted for more than 76% of the total volume.
The Total Return Index fell 0.46% to 19,354.39 points, the All Share Index by 0.47% to 3,110.77 points and the Al Rayan Islamic Index (Price) by 0.21% to 2,936.31 points.
The banks and financial services index declined 0.87%, real estate (0.71%), transport (0.41%), industrials (0.04%) and insurance (0.01%); whereas consumer goods and telecom gained 0.64% and 0.61% respectively.
Major losers included Doha Bank, QIIB, Al Khaliji, QNB, Qatar Islamic Bank, Industries Qatar, Gulf International Services, United Development Company, Ezdan and Nakilat; even as Alijarah Holding, Medicare Group, Qatar Investors Group, Vodafone Qatar and Milaha were among the prime gainers.
Local retail investors turned net sellers to the extent of QR3.59mn against net buyers of QR3.3mn on July 4.
Non-Qatari institutions’ net buying decreased significantly to QR11.59mn compared to QR16.61mn last Thursday.
However, Gulf individuals were net buyers to the tune of QR0.28mn against net sellers of QR0.49mn the previous trading day.
Domestic institutions’ net selling declined considerably to QR1.28mn compared to QR10.56mn on July 4.
Gulf institutions’ net selling also weakened noticeably to QR6.68mn against QR8.1mn last Thursday.
Non-Qatari individuals’ net profit booking decreased marginally to QR0.25mn compared to QR0.78mn the previous trading day.
Total trade volume fell 19% to 57.47mn shares, value by 9% to QR140.28mn and transactions by 4% to 4,657.
There was a 61% plunge in the consumer goods sector’s trade volume to 5.52mn equities but on a 33% jump in value to QR27.19mn despite 11% lower deals at 541.
The real estate sector’s trade volume plummeted 48% to 14.66mn stocks, value by 40% to QR13.57mn and transactions by 20% to 484.
The telecom sector reported a 21% shrinkage in trade volume to 2.14mn shares, 53% in value to QR6.27mn and 30% in deals to 255.
However, the transport sector’s trade volume grew almost six-fold to 1.63mn equities but on a 48% decline in value to QR4.26mn despite 7% higher transactions at 227.
The insurance sector’s trade volume more than doubled to 4.28mn stocks, value soared 87% to QR8.88mn and deals by 8% to 260.
The banks and financial services sector saw a 26% surge in trade volume to 17.7mn shares, 7% in value to QR48.78mn and 2% in transactions to 1,184.
The industrials sector’s trade volume expanded 23% to 11.54mn equities, while value declined 19% to QR31.34mn despite 1% higher deals at 1,706.
In the debt market, there was no trading of treasury bills and sovereign bonds.