Bearish sentiments continued to haunt the Qatar Stock Exchange, which fell 100 points to settle below the 8,800 mark; mainly dragged by transport, industrials and telecom stocks.

Foreign and Gulf institutions turned net profit takers as the 20-stock Qatar Index fell 1.13% for the second day to 8,748.62 points.

Non-Qatari individual investors were also net sellers in the market, where trading turnover and volumes were on the decline.

However, local retail investors were increasingly bullish and domestic institutions’ net selling weakened in the bourse, which is down 16.12% year-to-date.

Micro and mid cap suffered the maximum onslaught of the selling pressure in the market, where the banking, realty and industrials sectors together accounted for more than 80% of the total trading volume.

Market capitalisation eroded 1.13% or more than QR5bn to QR466.6bn with micro, mid, large and small cap equities melting 1.59%, 1.22%, 1.09% and 0.37% respectively.

The Total Return Index shrank 1.13% to 13,598.47 points, All Share Index by 1.06% to 2,327.32 points and Al Rayan Islamic Index by 1.1% to 3,114.75 points.

Transport stocks tanked 2.1%, industrials (1.51%), telecom (1.34%), consumer goods (1.04%), real estate (0.89%), banks and financial services (0.72%) and insurance (0.6%).

More than 84% of the stocks were in the red with major shakers being Industries Qatar, Vodafone Qatar, Ooredoo, QNB, Gulf Warehousing, Nakilat, Milaha, Mesaieed Petrochemical Holding, Aamal Company, Commercial Bank, Qatar Islamic Bank, Alijarah Holding, Islamic Holding Group, Doha Insurance and Al Khaleej Takaful; while Qatari Investors Group and Gulf International Services bucked the trend.

Non-Qatari institutions turned net sellers to the extent of QR11.24mn compared with net buyers of QR12.67mn the previous day.

The GCC (Gulf Cooperation Council) institutions were also net sellers to the tune of QR7.74mn against net buyers of QR1.71mn on Monday.

Non-Qatari individual investors turned net profit takers to the tune of QR6.09mn compared with net buyers of QR1.36mn on January 26.

However, local retail investors’ net buying strengthened to QR35.85mn against QR4.61mn the previous day.

Domestic institutions’ net profit booking plunged to QR9.83mn compared to QR16.38mn on Monday.

The GCC individuals’ net selling declined to QR0.93mn against QR3.95mn on January 26.

Total trade volume was down 9% to 6.18mn shares, value by 9% to QR217.43mn and deals by 12% to 3,358.

The industrials sector saw 44% plunge in trade volume to 0.85mn equities, 46% in value to QR37.25mn and 22% in transactions to 741.

The insurance sector’s trade volume plummeted 33% to 0.02mn stocks and value by 59% to QR0.99mn, while deals rose 27% to 38.

There was 26% shrinkage in the consumer goods sector’s trade volume to 0.29mn shares, 14% in value to QR9.07mn and 31% in transactions to 201.

The telecom sector’s trade volume shrank 18% to 0.49mn equities, value by 18% to QR9.04mn and deals by 3% to 449.

The banks and financial services sector’s trade volume was down 2% to 2.35mn stocks but value grew 2% to QR112.91mn. Transactions fell 13% to 1,098.

However, the transport sector’s trade volume more than doubled to 0.43mn shares and value also more than doubled to QR10.68mn but on 12% decline in deals to 115.

The real estate sector reported 3% gain in trade volume to 1.75mn equities, 24% in value to QR37.49mn and 4% in transactions to 716.

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