The Qatar Stock Exchange Sunday opened the week weak and its key barometer fell below 10,600 levels, mainly dragged by industrials, real estate and transport sectors.
The Gulf funds were net profit takers and there was weakened net buying from domestic institutions and non-Qatari individual investors as the 20-stock Qatar Index fell 0.4% for the third straight session to 10,581.32 points.
However, local and Gulf retail investors as non-Qatari institutions were net buyers in the market, which is up 1.49% year-to-date.
Market capitalisation saw about QR3bn, or 0.45%, decline to QR587.13bn mainly owing to small and microcap segments.
Islamic stocks were seen declining faster than the other indices in the bourse, where the Gulf retail investors were also net buyers.
Trade turnover and volumes were on the decline in the bourse, where the realty and banking sectors together accounted for about 68% of the total volume.
The Total Return Index shed 0.4% to 19,470.53 points, the All Share Index by 0.37% to 3,139.59 points and the Al Rayan Islamic Index (Price) by 0.42% to 2,336.16 points.
The industrials index shrank 0.74%, real estate (0.68%), transport (0.59%), banks and financial services (0.31%), telecom (0.31%) and consumer goods (0.24%); while insurance gained 0.69%.
More than 54% of the traded constituents were in the red with major losers being Qatar National Cement, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Doha Bank, Ahlibank Qatar, United Development Company, Ezdan, Vodafone Qatar, Ooredoo and Nakilat; even as Alijarah Holding, Medicare Group, Qatar Insurance and Mazaya Qatar were among the gainers.
The Gulf institutions turned net sellers to the tune of QR4.51mn compared with net buyers of QR2.12mn on January 23.
Domestic institutions’ net buying decreased significantly to QR1.2mn against QR16.13mn the previous trading day.
Non-Qatari individuals’ net buying eased noticeably to QR0.25mn compared to QR3.44mn last Thursday.
However, local retail investors turned net buyers to the extent of QR1.64mn against net sellers of QR18.64mn on January 23.
The Gulf individuals were also net buyers to the tune of QR0.79mn compared with net sellers of QR0.88mn the previous trading day.
Non-Qatari funds were net buyers to the extent of QR0.64mn against net profit takers of QR2.2mn last Thursday.
Total trade volumes fell 54% to 54.38mn shares, value by 45% to QR111.74mnm and transactions by 44% to 2,595.
The telecom sector’s trade volume plummeted 88% to 0.75mn equities, value by 83% to QR2.88mn and deals by 66% to 139.
The real estate sector saw a 66% plunge in trade volume to 18.65mn stocks, 62% in value to QR16.65mn and 55% in transactions to 479.
The banks and financial services sector’s trade volume tanked 51% to 18.08mn shares, value by 41% to QR53.87mn and deals by 47% to 969.
There was a 24% shrinkage in the industrials sector’s trade volume to 9.93mn equities, 12% in value to QR20.05mn and 23% in transactions to 523.
The consumer goods sector’s trade volume shrank 17% to 3.2mn stocks, value by 54% to QR8.57mn and deals by 33% to 272.
However, the insurance sector reported a 3% jump in trade volume to 0.64mn shares but on 15% drop in value to QR1.4mn and 70% in transactions to 32.
The transport sector’s trade volume was up 1% to 3.13mn equities, value by less than 1% to QR8.32mn and transactions by 28% to 181.
In the debt market, there was no trading of sovereign bonds and treasury bills.