The Qatar Stock Exchange on Monday lost 40 points to settle a tad above 9,700 levels, mainly dragged by telecom, industrials and real estate sectors.
There was increased selling pressure from local retail investors and domestic funds as the 20-stock Qatar Index settled 0.41% lower at 9,709.1 points, although it touched a high of 9,776 points intraday.
Non-Qatari individuals were seen bearish on the market, which is down 6.87% year-to-date.
Market capitalisation saw more than QR3bn or 0.57% erosion to QR538.1bn mainly owing to small and microcap segments.
Islamic stocks were seen declining slower than the other indices on the bourse, where domestic institutions’ net buying substantially strengthened.
Trade turnover and lower volumes were on the increase on the bourse, where real estate and banking sectors together accounted for more than 58% of the total volume.
The Total Return Index declined 0.41% to 17,951.89 points, All Share Index by 0.38% to 2,911.52 points and Al Rayan Islamic Index (Price) by 0.35% to 2,108.96 points.
The telecom index tanked 1.37%, industrials (1.33%), realty (1.18%) and banks and financial services (0.23%); whereas consumer goods grew 0.61%, transport (0.58%) and insurance (0.21%).
Major losers included Ooredoo, Mesaieed Petrochemical Holding, Gulf International Services, Aamal Company, Industries Qatar, Mazaya Qatar, United Development Company, Doha Bank and Qatar Oman Investment; while Qatar First Bank, Qatar German Company for Medical Devices, Zad Holding and Nakilat were among the gainers.
Local retail investors’ net selling increased considerably to QR30.71mn compared to QR25.8mn on February 16.
The Gulf funds’ net profit booking grew marginally to QR15.87mn against QR14.77mn the previous day.
Non-Qatari individual investors turned net sellers to the tune of QR0.25mn compared with net buyers of QR0.24mn on Sunday.
Non-Qatari institutions’ net buying declined perceptibly to QR3.74mn against QR4.5mn on February 16.
However, domestic funds’ net buying strengthened noticeably to QR42.51mn compared to QR35.8mn the previous day.
The Gulf individuals’ net buying increased perceptibly to QR0.57mn against QR0.03mn on February 16.
Total trade volumes grew 51% to 86.59mn shares, value by 32% to QR195.73mn and transactions by 49% to 5,715.
The consumer goods sector’s trade volume more than doubled to 17.86mn equities, value rose 34% to QR24.8mn and deals by 15% to 641.
The real estate sector’s trade volume more than doubled to 31.03mn stocks and value also more than doubled to QR35.31mn on more than doubled transactions to 1,210.
There was 73% surge in the transport sector’s trade volume to 2.83mn shares and 45% in value to QR7.62mn on more than doubled deals to 454.
The telecom sector’s trade volume expanded 16% to 3.7mn equities, value by 2% to QR15.34mn and transactions by 5% to 573.
The banks and financial services sector saw 11% jump in trade volume to 19.28mn stocks, 49% in value to QR86.28mn and 78% in deals to 1,811.
However, the insurance sector’s trade volume plummeted 65% to 0.8mn shares and value by 67% to QR2.16mn, while transactions shot up 17% to 84.
The market witnessed 5% fall in the industrials sector’s trade volume to 11.08mn equities and 18% in value to QR24.22mn but on 7% growth in deals to 942.
In the debt market, there was no trading of sovereign bonds and treasury bills.