By Santhosh V. Perumal
Business Reporter

The Qatar Stock Exchange on Sunday opened the week on a weak note as its key index lost 24 points, mainly dragged by domestic institutions.

The insurance, industrials and consumer goods sectors witnessed the maximum selling pressure as the 20-stock Qatar Index fell 0.22% to 10,836.19 points on lower overall volumes.

Foreign institutions’ increased net selling also strengthened the bearish sentiments in the market, which is down 11.8% year-to-date.

However, Gulf individuals, institutions and non-Qatari individuals turned bullish and there was increased buying interests from local retail investors at the bourse, where trading was largely skewed towards the transport and banking sectors, which together constituted more than 67% of the volume.

Market capitalisation was down 0.24%, or more than QR1bn, to QR569.18bn with small, micro and large cap equities falling 0.52%, 0.46% and 0.22% respectively; even as mid caps were up 0.05%.

The Total Return Index shed 0.22% to 16,843.3 points, the All Share Index by 0.24% to 2,888.28 points and the Al Rayan Islamic Index by 0.41% to 4,072.06 points.

Insurance stocks shrank 0.74%, followed by industrials (0.7%), consumer goods (0.51%), and banks and financial services as well as telecom (0.14% each); while transport and real estate gained 0.4% and 0.13% respectively.

Major losers included QNB, Industries Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Vodafone Qatar, Ooredoo, Nakilat and Qatar Islamic Bank; even as Commercial Bank, Ezdan and Alijarah Holding bucked the trend.

Domestic institutions turned net sellers to the tune of QR54.23mn compared with net buyers of QR6.41mn on November 19.

Non-Qatari institutions’ net profit-booking increased to QR5.01mn against QR2.44mn the previous day.

However, local retail investors’ net buying strengthened to QR32.91mn compared to QR5.35mn last Thursday.

GCC (Gulf Cooperation Council) individual investors were also net buyers to the extent of QR0.94mn against net sellers of QR0.29mn on November 19.

GCC institutions turned net buyers to the tune of QR5.23mn compared with net sellers of QR6.5mn the previous day.

Non-Qatari individual investors were also net buyers to the extent of QR20.17mn against net profit-takers of QR2.54mn last Thursday.

Total trade volume fell 20% to 3.86mn shares, value by 26% to QR142.78mn and deals by 37% to 1,743.

The real estate sector saw a 76% plunge in trade volume to 0.37mn equities, 80% in value to QR6.9mn and 62% in transactions to 184.

The telecom sector’s trade volume plummeted 63% to 0.15mn stocks, value by 60% to QR4.7mn and deals by 34% to 185.

The banks and financial services sector reported an 18% decline in trade volume to 0.99mn shares, 31% in value to QR47.31mn and 40% in transactions to 496.

The industrials sector’s trade volume tanked 13% to 0.45mn equities, value by 32% to QR29.82mn and deals by 34% to 420.

There was a 7% fall in the consumer goods sector’s trade volume to 0.26mn stocks, but on a 76% expansion in value to QR10.38mn and 35% in transactions to 159.

However, the transport sector’s trade volume soared 93% to 1.6mn shares and value by 68% to QR40.76mn, while deals fell 21% to 268.

Although the insurance sector’s trade volume was flat at 0.04mn equities, there was a 10% shrinkage in value to QR2.91mn and 58% in transactions to 31.

In the debt market, there was no trading of treasury bills and government bonds.