The Qatar Stock Exchange Tuesday fell more than 85 points to retreat below 10,500 levels, mainly dragged by foreign institutions.
Insurance, banking and consumer goods counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.81% lower at 10,429.82 points.
Gulf individuals’ net buying was seen weakening on the market, which reported 1.27% gains year-to-date.
Market capitalisation saw more than QR5bn or 0.93% erosion to QR582.05bn mainly owing to midcap segments.
Islamic stocks were seen declining slower than the other indices on the market, where domestic funds turned net buyers.
Trade turnover and volumes were on the decline in the bourse, where banking, realty and industrials sectors together accounted for more than 78% of the total volume.
The Total Return Index declined 0.78% to 19,191.75 points, All Share Index by 0.94% to 3,098.16 points and Al Rayan Islamic Index (Price) by 0.57% to 2,324.24 points.
The insurance index tanked 1.42%, banks and financial services (1.21%), consumer goods (1.02%), telecom (0.62%) and industrials (0.56%); while insurance declined 1.42%. The realty index treaded a flat path.
About 64% of the traded stocks were in the red with major losers being QNB, Qatar Islamic Bank, al khaliji, Commercial Bank, Doha Bank, Salam International Investment, Medicare Group, Woqod, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Vodafone Qatar and Ooredoo; even as Qatar Oman Investment, Qatari German Company for Medical Devices, Al Khaleej Takaful, Nakilat and Ezdan were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR22.65mn compared with net buyers of QR42.93mn on December 23.
The Gulf individual investors’ net buying weakened marginally to QR0.48mn against QR1.05mn the previous day.
However, domestic institutions were net buyers to the extent of QR26.72mn compared with net sellers of QR32.2mn on Monday.
The Gulf institutions’ net buying increased noticeably to QR7.63mn against QR6.41mn on December 23.
Non-Qatari individuals’ net buying grew perceptibly to QR2.57mn compared to QR0.35mn the previous day.
Local retail investors’ net profit booking fell significantly to QR14.76mn against QR18.54mn on Monday.
Total trade volumes fell 7% to 56.84mn shares, value by 31% to QR161.33mn and transactions by 44% to 4,349.
The consumer goods sector’s trade volume plummeted 45% to 6.26mn equities, value by 30% to QR18.23mn and deals by 14% to 1,149.
There was 20% plunge in the industrials sector’s trade volume to 10.52mn stocks, 21% in value to QR24.04mn and 42% in transactions to 879.
The transport sector’s trade volume tanked 20% to 2.87mn shares, value by 22% to QR7.93mn and deals by 38% to 173.
The insurance sector reported 12% shrinkage in trade volume to 1.04mn equities, 28% in value to QR2.54mn and 45% in transactions to 100.
The telecom sector’s trade volume was down 7% to 2.14mn stocks, value by 39% to QR7.73mn and deals by 37% to 319.
However, the real estate sector saw 22% surge in trade volume to 11.41mn shares but on 5% fall in value to QR16.52mn and 21% in transactions to 355.
The banks and financial services sector’s trade volume expanded 11% to 22.6mn equities, whereas value shrank 37% to QR84.33mn and deals by 61% to 1,374.
In the debt market, there was no trading of treasury bills and sovereign bonds.