The Qatar Stock Exchange on Monday opened the week marginally down on selling pressure especially within the consumer goods, insurance, transport and industrials sectors.
Foreign institutions’ buying interests substantially weakened as the 20-stock Qatar Index closed 0.08% lower in the third straight session of losses at 10,266.51 points.
Local retail investors were increasingly into profit booking in the market, whose key benchmark is down 0.32% year-to-date.
Market capitalisation saw more than QR2bn, or 0.37%, decline to QR566.41bn mainly owing to midcap segments.
Islamic equities were seen declining faster than the other indices in the market, where the Gulf institutions turned bullish and there was significantly weakened net selling by domestic funds.
Trade turnover and volumes were on the decline in the bourse, where the industrials and banking sectors together accounted for more than 73% of the total volume.
The Total Return Index fell 0.08% to 18,891.25 points, the All Share Index by 0.21% to 3,025.82 points and the Al Rayan Islamic Index (Price) by 0.26% to 2,299.99 points.
The consumer goods index shrank 0.76%, insurance (0.64%), transport (0.57%), industrials (0.53%), and realty and telecom (0.09% each); while banks and financial services index was up 0.04%.
More than 62% of the traded constituents were in the red with major losers being Salam International Investment, Medicare Group, QNB, Qatar Industrial Manufacturing, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemicals Holding, Al Khaleej Takaful, United Development Company, Mazaya Qatar, Vodafone Qatar and Milaha; even as Qatar Islamic Bank, Commercial Bank, QIIB, Mannai Corporation, Aamal Company, Ezdan, Ooredoo and Gulf Warehousing were among the gainers.
Non-Qatari institutions’ net buying declined significantly to QR7.77mn compared to QR54.15mn on November 7.
Local retail investors’ net profit booking increased noticeably to QR3.45mn against QR0.38mn last Thursday.
However, domestic funds’ net selling declined substantially to QR4.4mn against QR39.92mn the previous trading day.
The Gulf funds were net buyers to the extent of QR1.07mn compared with net sellers of QR4.9mn on November 7.
Non-Qatari individuals were also net buyers to the tune of QR0.03mn against net sellers of QR3.78mn last Thursday.
The Gulf individuals’ net profit booking weakened perceptibly to QR1.03mn compared to QR5.16mn the previous trading day.
Total trade volume fell 26% to 46.12mn shares, value by 40% to QR125.8mn and transactions by 41% to 3,438.
The insurance’s sector’s trade volume plummeted 88% to 0.7mn equities, value by 90% to QR1.42mn and deals by 81% to 62.
The consumer goods sector reported a 52% plunge in trade volume to 2.59mn stocks, value by 66% to QR8.25mn and transactions by 59% to 295.
The transport sector’s trade volume tanked 52% to 0.61mn shares, value by 52% to QR1.89mn and deals by 30% to 85.
There was a 30% shrinkage in the industrials’ sector’s trade volume to 15.62mn equities, 62% in value to QR14.1mn and 28% in transactions to 884.
The telecom sector’s trade volume declined 22% to 1.71mn stocks, value by 49% to QR4.62mn and deals by 76% to 257.
The banks and financial services sector saw a 7% dip in trade volume to 18.1mn shares, 24% in value to QR89.9mn and 19% in transactions to 1,651.
However, the real estate sector’s trade volume grew 11% to 6.8mn equities, whereas value was down 3% to QR5.62mn and deals by 33% to 204.
In the debt market, there was no trading of treasury bills and sovereign bonds.