Foreign funds' increased profit booking pressure on Monday further dragged the Qatar Stock Exchange below 10,400 levels and capitalisation eroded by about QR4bn.
The insurance and industrials counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.81% or 84 points for the third straight session to 10,362.85 points.
However, domestic and Gulf institutions were increasingly net buyers in the market, whose key benchmark was up 0.62% year-to-date.
Market capitalisation saw 0.63% decline to QR573.93bn mainly owing to small and microcap segments.
Islamic equities were seen declining slower than the main index in the market, where local retail investors’ net profit booking weakened.
Trade turnover and volumes were on the increase in the bourse, where the real estate, banking and industrials sectors together accounted for about 79% of the total volume.
The Total Return Index declined 0.81% to 19,068.52 points, the Al Rayan Islamic Index (Price) by 0.77% to 2,334.22 points and the All Share Index by 0.61% to 3,045.2 points.
The insurance index plunged 3.83%, industrials (1.26%), realty (0.4%), consumer goods (0.38%), banks and financial services (0.34%) and telecom (0.06%); while transport gained 0.24%.
More than 58% of the traded constituents were in the red with major losers being Qatar Insurance, Al Khaleej Takaful, Nakilat, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Medicare Group and Vodafone Qatar; even as Qatari German Company for Medical Devices, Qatar Industrial Manufacturing, Milaha, Doha Insurance and Ooredoo were among the gainers.
Non-Qatari institutions’ net profit booking increased significantly to QR30.29mn against QR1.05mn on September 22.
Non-Qatari individuals’ net buying weakened marginally to QR0.91mn compared to QR1.15mn the previous day.
However, domestic institutions’ net buying expanded substantially to QR27.7mn against QR8.72mn on Sunday.
Gulf institutions’ net buying also grew perceptibly to QR9.41mn compared to QR2.7mn on September 22.
Gulf individuals’ net buying strengthened notably to QR1.51mn against QR0.59mn the previous day.
Local retail investors’ net profit booking declined considerably to QR2.07mn compared to QR12.12mn on Sunday.
Total trade volume rose 5% to 72.49mn shares, value by 23% to QR206.74mn and transactions by 56% to 5,775.
The real estate sector’s trade volume more than doubled to 25.18mn equities and value more than doubled to QR20.8mn on more-than-tripled deals to 1,183.
The banks and financial services sector saw a 17% surge in trade volume to 19.36mn stocks, 91% in value to QR102.26mn and 60% in transactions to 1,630.
The consumer goods sector’s trade volume was up 3% to 9.48mn shares, whereas value tumbled 17% to QR13.88mn despite 46% higher deals at 557.
However, the insurance sector reported a 63% plunge in trade volume to 0.83mn equities and 67% in value to QR2.12mn but on a 45% growth in transactions to 106.
The telecom sector’s trade volume plummeted 55% to 1.59mn stocks and value by 39% to QR8.17mn, while deals were up 6% to 523.
There was a 44% contraction in the industrials sector’s trade volume to 12.48mn shares and 17% in value to QR13.88mn but on 46% increase in transactions to 1,513.
The transport sector’s trade volume tanked 19% to 3.57mn equities, value by 6% to QR19.67mn and deals by 11% to 263.
In the debt market, there was no trading of treasury bills and sovereign bonds.