Qatar Stock Exchange continued to be under bearish spell for the eighth straight session, albeit at lower levels, and its key index fell 11 points; a day after it was bludgeoned by Iranian deal with the UN atomic watchdog.

Mainly dragged by the consumer goods, the industrials, the transport and the banking stocks; the 20-stock Qatar Index fell 0.13% to 8,516.82 points.

Domestic institutions turned bearish and their Gulf counterparts were increasingly net profit takers in the market, where trading turnover and volumes were on the decline.

Local retail investors’ net buying interests also slightly weakened in the bourse, which is down 18.34% year-to-date.

The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the market, where the realty, banking, industrials and telecom sectors together accounted more than 82% of the total trading volume.

Market capitalisation was down 0.48% or more than QR2bn to QR455.68bn mainly due to a 0.33% fall in mid cap equities; even as small, micro and large caps gained 1.21%, 0.77% and 0.13% respectively.

The Total Return Index fell 0.13% to 13,238.18points, All Share Index by 0.53% to 2,269.16 points and Al Rayan Islamic Index by 0.91% to 3,033.44 points.

Consumer goods stocks shrank 1.69%, industrials (1.5%), transport (1.01%), banks and financial services (0.81%) and real estate (0.05%); whereas telecom surged 5.48% and insurance (0.82%).

More than 57% of the stocks were in the red with major losers being QNB, Qatar National Cement, Mesaieed Petrochemical Holding, Qatari Investors Group, Mannai Corporation, Industries Qatar, Qatar Islamic Bank, QIIB, al khaliji, Dlala and Nakilat.

However, Ooredoo, Vodafone Qatar, Mazaya Qatar, Gulf International Services, Doha Bank, Masraf Al Rayan and Islamic Holding Group bucked the trend.

Domestic institutions turned net sellers to the extent of QR2.18mn against net buyers of QR16.34mn on Sunday.

The GCC (Gulf Cooperation Council) institutions’ net selling strengthened to QR24.59mn compared to QR6.77mn on January 17.

Local retail investors’ net buying decreased to QR23.27mn against QR24.27mn the previous day.

However, the GCC individuals turned net buyers to the tune of QR3.56mn compared with net buyers of QR7.44mn on Sunday.

Non-Qatari individual investors were also net buyers to the extent of QR4.51mn against net sellers of QR16.64mn on January 17.

Non-Qatari institutions’ net profit booking weakened to QR4.57mn compared to QR9.72mn the previous day.

Total trade volume fell 19% to 9.99mn shares and value by 18% to QR306.94mn, while deals rose 19% to 6,156.

The market witnessed 40% plunge in the industrials sector’s trade volume to 1.76mn equities and 34% in value to QR75.77mn but on 19% jump in transactions to 1,324.

The banks and financial services sector’s trade volume plummeted 30% to 2.08mn stocks and value by 3% to QR116.68mn, while deals rose 35% to 1,869.

The insurance sector saw 27% shrinkage in trade volume to 0.08mn shares and 18% in value to QR5.22mn but on 50% expansion in transactions to 108.

The transport sector’s trade volume tanked 24% to 0.69mn equities, value by 41% to QR14.16mn and deals by 19% to 249.

There was 13% decline in the real estate sector’s trade volume to 2.86mn stocks, 19% in value to QR47.11mn and 3% in transactions to 1,076.

However, the consumer goods sector’s trade volume soared 34% to 1.03mn shares, while value shrank 24% to QR25.56mn. Deals were up 6% to 598.

The telecom sector saw 19% surge in trade volume to 1.51mn equities, 29% in value to QR22.42mn and 47% in transactions to 932.

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