An across-the-board selling Sunday dragged the Qatar Stock Exchange more than 272 points in its key index and about QR18bn in capitalisation.
Foreign and domestic funds were seen bearish as the 20-stock Qatar Index settled 2.92% lower at 9,037.2 points, although it touched a low of 8,944 points within the first 10 minutes of opening.
The Gulf institutions continued to be net profit takers but with lesser intensity on the market, which is down 13.32% year-to-date.
Market capitalisation saw 3.41% erosion to QR502.57bn mainly owing to large and midcap segments.
Islamic stocks were seen declining faster than the main barometer on the bourse, where local retail investors turned net buyers.
Trade turnover declined amidst higher volumes in the bourse, whereas realty, consumer goods and banking sectors together accounted for about 77% of the total trading volume.
The Total Return Index plunged 2.92% to 16,946.31 points, Al Rayan Islamic Index (Price) by 3.04% to 1,917.19 points and All Share Index by 3.28% to 2,749.94 points.
The real estate index tanked 4.58%, telecom (3.78%), industrials (3.62%), banks and financial services (3.49%), insurance (3.34%), transport (1.62%) and consumer goods (0.89%).
More than 91% of the traded constituents were in the red with major losers being QNB, Commercial Bank, Doha Bank, Qatar Islamic Bank, Qatar First Bank, Dlala, Qatar German Company for Medical Devices, Salam International Investment, Industries Qatar, Aamal Company, Gulf International Services, Qatar Insurance, Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar, Vodafone Qatar, Ooredoo, Gulf Warehousing and Nakilat.
Non-Qatari institutions turned net sellers to the tune of QR20.61mn compared with net buyers of QR94.27mn on March 5.
Domestic funds were also net sellers to the extent of QR6.18mn against net buyers of QR84.01mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR32.54mn compared with net sellers of QR121.03mn last Thursday.
Non-Qatari individual investors’ net buying grew considerably to QR10.24mn against QR1.54mn on March 5.
The Gulf individuals were net buyers to the extent of QR0.86mn compared with net sellers of QR0.27mn the previous trading day.
However, the Gulf funds’ net profit booking weakened extensively to QR16.93mn against QR58.52mn last Thursday.
Total trade volumes rose 7% to 123.08mn shares, while value declined 34% to QR296.94mn and transactions by 4% to 6,833.
The insurance sector’s trade volume more than doubled to 6.19mn equities and value almost tripled to QR14.42mn on 7% jump in deals to 210.
The real estate sector’s trade volume soared 45% to 36.44mn stocks, value by 32% to QR30.4mn and transactions by 35% to 1,133.
The banks and financial services sector saw 12% surge in trade volume to 24.34mn shares but on 19% fall in value to QR138.77mn despite 11% higher deals at 2,270.
The industrials sector’s trade volume shot up 6% to 16.24mn equities, whereas value declined 28% to QR28.25mn and transactions by 21% to 945.
There was 4% jump in the transport sector’s trade volume to 2.12mn stocks but on 9% fall in value to QR4.83mn and 2% in deals to 160.
However, the telecom sector’s trade volume plummeted 30% to 4.04mn shares, value by 24% to QR15.14mn and transactions by 42% to 591.
The consumer goods sector reported 21% plunge in trade volume to 33.72mn equities, value by 65% to QR65.14mn and deals by 10% to 1,524.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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