The Qatar Stock Exchange on Monday fell below 10,300 levels, mainly dragged by increased selling pressure from the Gulf funds, although gainers outnumbered decliners.
The banking, insurance and industrials counters witnessed higher than average profit booking as the 20-stock Qatar Index settled 0.77% or 79 points lower for the second straight session at 10,222.2 points.
The market was consistently on the decline from the beginning, also led by bearish outlook of local retail investors.
Foreign and domestic institutions were increasingly net buyers in the market, whose key benchmark is down 0.75% year-to-date.
Market capitalisation saw about QR5bn, or 0.83%, erosion to QR566.23bn mainly owing to mid and small cap segments.
Islamic equities were seen declining slower than the main index in the market, where the Gulf individuals continued to be net profit takers but with lesser intensity.
Trade turnover and volumes were on the increase in the bourse, where the banking, industrials, consumer goods and real estate sectors together accounted for more than 88% of the total volume.
The Total Return Index declined 0.77% to 18,809.71 points, the All Share Index by 0.81% to 3,021.59 points and the Al Rayan Islamic Index (Price) by 0.3% to 2,294.39 points.
The insurance index lost 1.58%, banks and financial services (1.28%) and industrials (0.73%); whereas transport gained 0.9%, consumer goods (0.52%), realty (0.44%) and telecom (0.09%).
Major losers included QNB, Qatar Islamic Bank, Commercial Bank, Mesaieed Petrochemical Holding, Industries Qatar, Mannai Corporation, Ooredoo, Widam Food and Qatar General Insurance and Reinsurance.
Nevertheless, Dlala, Ahlibank Qatar, Qatari German Company for Medical Devices, Salam International Investment, Medicare Group, Qatar Industrial Manufacturing, Qatari Investors Group, Gulf International Services, United Development Company, Mazaya Qatar and Vodafone Qatar were among the gainers.
The Gulf institutions’ net selling increased significantly to QR11.49mn compared to QR7.97mn the previous day.
Local retail investors turned net sellers to the tune of QR3.23mn against net buyers of QR0.43mn on October 25.
Non-Qatari individuals’ net buying declined perceptibly to QR0.41mn compared to QR1.49mn on Sunday.
However, domestic institutions’ net buying expanded marginally to QR16.8mn against QR15.03mn the previous day.
Non-Qatari institutions’ net buying strengthened noticeably to QR4.34mn compared to QR0.46mn on October 25.
The Gulf individuals’ net profit booking declined significantly to QR6.8mn against QR9.46mn on Sunday.
Total trade volume rose 9% to 56.71mn shares, value by 29% to QR179.3mn and transactions by 38% to 4,386.
The telecom sector’s trade volume more than doubled to 2.09mn equities and value more than doubled to QR4.68mn on more-than-doubled deals to 202.
The consumer goods sector reported a 74% surge in trade volume to 12.15mn stocks and 53% in value to QR37.12mn on more-than-doubled transactions to 1,148.
The real estate sector’s trade volume soared 42% to 10.3mn shares to more-than-double value to QR12.6mn on a 46% growth in deals to 370.
There was a 4% jump in the industrials sector’s trade volume to 12.45mn equities but on a 6% fall in value to QR27.5mn despite 10% higher transactions at 991.
However, the transport sector’s trade volume plummeted 72% to 0.96mn stocks and value by 67% to QR2.92mn, while deals were up 4% to 133.
The insurance sector saw a 20% plunge in trade volume to 3.63mn shares, 23% in value to QR8.48mn and 25% in transactions to 234.
The banks and financial services sector’s trade volume tanked 13% to 15.13mn equities, whereas value shot up 49% to QR86mn and deals by 30% to 1,308.
In the debt market, there was no trading of treasury bills and sovereign bonds.