The increased net selling pressure from foreign and Gulf funds on Monday dragged the Qatar Stock Exchange more than 43 points and its key index retreated below 8,900 levels.
The real estate sector witnessed higher than average profit booking as the 20-stock Qatar Index declined 0.49% to 8,863.63 points, although it touched a high of 8,873 points in the first 30 minutes of opening.
Domestic funds and the Arab individuals continued to be net buyers but with lesser intensity on the bourse, whose year-to-date losses were at 14.98%.
Market capitalisation saw about QR2bn or 0.37% decrease to QR502.3bn mainly owing to microcap segments.
Islamic stocks were seen declining faster than the other indices on the market, where local retail investors turned net buyers.
Trade turnover and volumes were on the increase in the market, where the real estate and industrials sectors together accounted for more than 67% of the total trading volume.
The Total Return Index fell 0.49% to 17,040.04 points, All Share Index by 0.48% to 2,745.91 points and Al Rayan Islamic Index (Price) by 0.57% to 1,983.18 points.
The real estate index tanked 3%, banks and financial services (0.69%), insurance (0.22%) and industrials (0.09%); while telecom gained 2.23%, consumer goods and services (0.08%) and transport (0.01%).
More than 61% of the traded constituents were in the red with major losers being United Development Company, Mazaya Qatar, Ezdan, Commercial Bank, Qatar First Bank, Dlala, QNB, Islamic Holding Group, Qatar German Company for Medical Devices, Widam Food, Aamal Company, Qatar Electricity and Water, Gulf International Services, Mesaieed Petrochemical Holding, Qamco and Gulf Warehousing; even as Ooredoo, Vodafone Qatar, Nakilat, Medicare Group, Qatar National Cement and Industries Qatar were among the gainers.
Foreign institutions’ net selling increased considerably to QR26.41mn against QR3.25mn the previous day.
The Gulf institutions’ net profit booking grew noticeably to QR5.04mn compared to QR0.96mn on Sunday.
Foreign individuals were net sellers to the tune of QR0.27mn against net buyers of QR5.27mn on May 10.
Domestic funds’ net buying eased distinctively to QR22.46mn compared to QR25.7mn the previous day.
The Arab individuals’ net buying also weakened perceptibly to QR1.06mn against QR5.35mn on Sunday.
However, local retail investors were net buyers to the extent of QR5.29mn compared with net sellers of QR28.81mn on May 10.
The Gulf individuals’ net buying strengthened considerably to QR2.95mn against QR0.25mn the previous day.
The Arab funds’ net profit booking declined substantially to QR0.04mn compared to QR3.57mn on Sunday.
Total trade volumes rose 15% to 157.93mn shares, value by 46% to QR303.87mn and transactions by 67% to 9,093.
The telecom sector’s trade volume grew more than six-fold to 14.38mn equities and value by more than five-fold to QR25.43mn on more than quadrupled deals to 867.
The insurance sector’s trade volume soared 52% to 6.17mn stocks and value by 27% to QR10.86mn on almost tripled transactions to 397.
There was 31% surge in the transport sector’s trade volume to 6.46mn shares and 31% in value to QR18.55mn on more than doubled deals to 620.
The industrials sector’s trade volume shot up 27% to 54.06mn equities, value by 25% to QR78.96mn and transactions by 24% to 2,120.
The banks and financial services sector saw 5% growth in trade volume to 15.96mn stocks on more than doubled value and deals to QR69.66mn and 2,762 respectively.
However, the consumer goods and services sector’s trade volume shrank 29% to 8.65mn shares, while value expanded 64% to QR40.8mn and transactions by 52% to 794.
There was a 6% fall in the real estate sector’s trade volume to 52.25mn equities and 5% in value to QR59.61mn but on 25% growth in deals to 1,533.
In the debt market, there was no trading of sovereign bonds and treasury bills.