The Qatar Stock Exchange on Sunday snapped three days of bullish run and its key index lost more than 137 points, mainly dragged insurance, banking, consumer goods and industrials equities.
Foreign institutions’ buying interests substantially weakened as the 20-stock Qatar Index declined 1.28% to 10,551.43 points.
Domestic funds and local retail investors continued to be net sellers but with lesser intensity in the market, whose key benchmark closed 2.45% higher year-to-date.
Market capitalisation declined about QR8bn or 1.31% to QR582.36bn mainly owing to large and midcap segments.
Islamic equities were seen declining slower than the other indices in the market, where the Gulf individuals and Gulf institutions turned bullish.
Trade turnover and volume were on the decline in the bourse, where the banking sector alone accounted for about 69% of the total volume.
The Total Return Index shed 1.28% to 19,415.53 points, Al Rayan Islamic Index (Price) by 0.91% to 2,400.6 points and All Share Index by 1.19% to 3,121.65 points.
The insurance index tanked 2.25%, banks and financial services (1.53%), consumer goods (1.51%), industrials (1.31%), transport (0.26%) and telecom (0.13%); whereas real estate gained 0.29%.
More than 68% of the traded constituents were in the red with major losers being Qatar Insurance, QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, QIIB, Alijarah Holding, Medicare Group, Woqod, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Al Khaleej Takaful and Mazaya Qatar; even as Gulf Warehousing, Ezdan, Barwa, Gulf International Services and Zad Holding were among the prime gainers.
Non-Qatari institutions’ net buying decreased substantially to QR31.14mn compared to QR160.86mn on June 20.
However, the Gulf individuals turned net buyers to the tune of QR2.22mn against net sellers of QR0.98mn last Thursday.
The Gulf funds were also net buyers to the extent of QR0.4mn compared with net sellers of QR12.81mn the previous trading day.
Domestic institutions’ net selling weakened significantly to QR20.2mn against QR79.75mn on June 20.
Local retail investors’ net profit booking fell influentially to QR12.87mn compared to QR61.6mn last Thursday.
Non-Qatari individual investors’ net selling decreased noticeably to QR0.69mn against QR5.72mn the previous trading day.
Total trade volume fell 65% to 26.48mn shares, value by 70% to QR198.24mn and transactions by 44% to 4,356.
The real estate sector’s trade volume plummeted 76% to 0.96mn equities, value by 78% to QR10.03mn and deals by 72% to 326.
The banks and financial services sector saw 69% plunge in trade volume to 18.16mn stocks, 80% in value to QR73.56mn and 40% in transactions to 1,742.
The consumer goods sector’s trade volume tanked 60% to 2.58mn shares, value by 74% to QR11.58mn and deals by 54% to 378.
There was 50% shrinkage in the industrials sector’s trade volume to 1.73mn equities, 66% in value to QR41.15mn and 32% in transactions to 1,310.
The telecom sector’s trade volume shrank 38% to 0.72mn stocks, value by 71% to QR7.39mn and deals by 49% to 228.
The insurance sector reported 37% contraction in trade volume to 0.31mn shares, 57% in value to QR7.19mn and 27% in transactions at 159.
However, the transport sector’s trade volume more than doubled to 2.03mn equities and value soared 76% to QR47.34mn, while deals fell 29% to 213.
In the debt market, there was no trading of treasury bills and sovereign bonds.