The Qatar Stock Exchange on Sunday opened the week weak and its key index lost 56 points to settle below 10,200 levels, mainly on weakened buying interests of foreign funds and local retail investors.
Non-Qatari individual investors’ net buying also fell but marginally as the 20-stock Qatar Index settled 0.54% lower at 10,149.03 points, although it remained at more than 10,200 levels initially.
Both Gulf and domestic institutions continued to be net sellers but with lesser intensity on the market, which is down 2.65% year-to-date.
Market capitalisation saw about QR2bn or 1.61% erosion to QR566.74bn mainly owing to small and microcap segments.
Islamic stocks were seen declining faster than the other indices on the bourse, where the Gulf individuals were seen bullish.
Trade turnover shrank amidst higher volumes on the bourse, where real estate and banking sectors together accounted for more than 72% of the total volume.
The Total Return Index fell 0.54% to 18,675.08 points, All Share Index by 0.37% to 3,023.23 points and Al Rayan Islamic Index (Price) by 0.98% to 2,212.46 points.
The real estate index plummeted 2.87%, transport (1.11%), industrials (0.62%), telecom (0.19%), insurance (0.18%) and banks and financial services (0.12%); while consumer goods was down 0.03%.
More than 59% of the traded constituents were in the red with major losers being United Development Company, Doha Bank, Alijarah Holding, Salam International Investment, Medicare Group, Industries Qatar, Mesaieed Petrochemical Holding and Nakilat; even as Aamal Company, Ooredoo, QNB, Al Khaliji and Qatar German Company for Medical Devices were among the gainers.
Non-Qatari institutions’ net buying declined influentially to QR6.02mn compared to QR41.36mn on February 6.
Local retail investors’ net buying also eased significantly to QR7.63mn against QR20.47mn last Thursday.
However, the Gulf funds’ net selling weakened considerably to QR10.12mn compared to QR31.76mn the previous trading day.
Domestic institutions’ net selling also eased considerably to QR8.04mn against QR33.58mn on February 6.
The Gulf individuals turned net buyers to the tune of QR0.46mn compared with net sellers of QR0.58mn last Thursday.
Non-Qatari individual investors’ net buying rose marginally to QR4.04mn against QR4.03mn the previous trading day.
Total trade volumes grew 16% to 92.81mn shares, while value fell 42% to QR159.62mn and transactions by 41`% to 4,147.
The insurance sector reported 55% plunge in trade volume to 0.41mn equities, 68% in value to QR1.1mn and 74% in deals to 37.
The industrials sector’s trade volume plummeted 49% to 6.02mn stocks, value by 68% to QR9.69mn and transactions by 43% to 625.
The banks and financial services sector saw 23% shrinkage in trade volume to 15.97mn shares, 61% in value to QR54.19mn and 65% in deals to 1,060.
The consumer goods sector’s trade volume tanked 17% to 11.42mn equities, value by 59% to QR10.77mn and transactions by 49% to 371.
However, there was 94% surge in the real estate sector’s trade volume to 51.3mn stocks, 17% in value to QR64.45mn and 74% in deals to 1,430.
The transport sector’s trade volume soared 47% to 3.87mn shares and value by 15% to QR8.98mn, while transactions were down 8% to 254.
The market witnessed 5% jump in the telecom sector’s trade volume to 3.81mn equities but on 37% contraction in value to QR10.44mn and 62% in deals to 370.
In the debt market, there was no trading of sovereign bonds and treasury bills.