The Qatar Stock Exchange on Monday lost another 52 points to settle below 10,100 levels, mainly dragged by the transport equities.
The Gulf and domestic funds were increasingly into profit booking as the 20-stock Qatar Index settled 0.51% lower at 10,097.18 points, although it touched a low of 10,050 intraday.
Local retail investors were seen bearish on the market, which is down 3.15% year-to-date.
Market capitalisation saw more than QR7bn or 1.27% erosion to QR559.54bn mainly owing to large and small cap segments.
The QSE on Monday announced that the tick size of the listed in the main market will be adjusted, starting from February 16, 2020. A tick size is the minimum price change between different bid and offer prices of an asset traded on a bourse.
Accordingly, the tick size will be 0.001 for stock price less than QR10 and 0.01 from stock price of QR10 and above.
Islamic stocks were seen declining slower than the other indices on the bourse, where foreign institutions’ net buying substantially strengthened.
Trade turnover shot up amidst lower volumes on the bourse, where banking and real estate sectors together accounted for more than 69% of the total volume.
The Total Return Index was down 0.03% to 18,669.44 points, All Share Index by 0.2% to 3,017.31 points and Al Rayan Islamic Index (Price) by 0.01% to 2,212.37 points.
The transport index plummeted 2.59%, realty (0.56%), consumer goods (0.29%) and banks and financial services (0.18%); while insurance gained 0.55%, telecom (0.55%) and industrials (0.2%).
More than 49% of the traded constituents were in the red with major losers being Nakilat, Gulf Warehousing, Milaha, QNB, Qatar First Bank, Dlala, Qatar German Company for Medical Devices, Qatari Investors Group, Mesaieed Petrochemical Holding and Barwa; even as Commercial Bank, Qatar Oman Investment, Industries Qatar, Vodafone Qatar and Qatar General Insurance and Reinsurance were among the gainers.
The Gulf funds’ net selling increased considerably to QR27.02mn compared to QR10.12mn on February 9.
Domestic institutions’ net selling also grew significantly to QR21.96mn against QR8.04mn the previous day.
However, non-Qatari institutions’ net buying strengthened influentially to QR48.55mn compared to QR6.02mn on Sunday.
Non-Qatari individual investors’ net buying rose marginally to QR4.46mn against QR4.04mn on February 9.
Local retail investors turned net sellers to the tune of QR3.51mn compared with net buyers of QR7.63mn the previous day.
The Gulf individuals were also seen net profit takers to the extent of 0.55mn against net buyers of QR0.46mn on Sunday.
Total trade volumes fell 21% to 73.06mn shares, while value grew 49% to QR237.19mn and transactions by 27% to 5,256.
There was 54% plunge in the real estate sector’s trade volume to 23.63mn equities, 57% in value to QR27.45mn and 63% in deals to 525.
The consumer goods sector’s trade volume plummeted 51% to 5.61mn stocks, whereas value was up 9% to QR11.73mn and transactions by 8% to 400.
The market witnessed 30% shrinkage in the telecom sector’s trade volume to 2.66mn shares, 3% in value to QR10.13mn and 6% in deals to 347.
However, the insurance sector’s trade volume more than doubled to 0.84mn equities and value also more than doubled to QR2.28mn on 70% jump in transactions to 63.
The banks and financial services sector saw 69% surge in trade volume to 27.02mn stocks and value more than doubled to QR150.81mn on more than doubled deals to 2,851.
The industrials sector’s trade volume shot up 49% to 8.97mn shares and value more than doubled to QR24.83mn on 34% growth in transactions to 837.
There was 12% expansion in the transport sector’s trade volume to 4.33mn equities and 13% in value to QR10.16mn but on 8% fall in deals to 233.
In the debt market, there was no trading of sovereign bonds and treasury bills.