Qatar Stock Exchange opened the week weak and its key index lost 63 points mainly due to selling pressure from foreign institutions.

Transport, industrials and banking counters witnessed higher than average selling, leading the 20-stock Qatar Index shrank 0.65% to 9,620.57 points.

Gulf institutions were also seen bearish and there was marginal increase in profit booking by their domestic counterparts in the market, where trading turnover and volumes were also on the decline.

However, local and Gulf retail investors were seen bullish in the bourse, which down 7.75% year-to-date.

The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the market, where industrials, banking and realty stocks together accounted for about three-fourth the total trading volume.

Market capitalisation shed 0.77% or QR4bn to QR513.2bn with micro and large cap equities melting 1.38% and 0.96% respectively; even as small caps rose 0.48%.

The Total Return Index shrank 0.65% to 15,004.25 points, All Share Index by 0.64% to 2,563.27 points and Al Rayan Islamic Index by 0.53% to 3,417.1 points.

Transport stocks plunged 1.7%, industrials (1.25%), banks and financial services (0.79%) and insurance (0.03%); whereas telecom gained 0.71%, consumer goods (0.46%) and real estate (0.02%).

About 59% of the stocks were in the red with losers being QNB, Industries Qatar, Nakilat, Vodafone Qatar, Gulf Warehousing, Commercial Bank, Masraf Al Rayan, Ezdan, Alijarah Holding, Gulf International Services, Mannai Corporation and Doha Insurance.

However, Ooredoo, Barwa, Milaha, Doha Bank, QIIB, Woqod, Qatari Investors Group and United Development Company were seen bucking the trend.

Non-Qatari institutions turned net sellers to the tune of QR11.03mn compared with net buyers of QR50.13mn last Thursday.

The GCC (Gulf Cooperation Council) institutions were also net sellers to the extent of QR7.81mn against net buyers of QR6.18mn on February 4.

Domestic institutions’ net profit booking rose to QR25.3mn compared to QR23.72mn the previous trading day.

However, local retail investors turned net buyers to the tune of QR33.45mn against net sellers of QR32.98mn last Thursday.

The GCC individuals were also net buyers to the extent of QR1.66mn compared with net sellers of QR2.34mn on February 4.

Non-Qatari individual investors’ net buying strengthened to QR8.98mn against QR2.71mn the previous trading day.

Total trade volume fell 32% to 6.82mn shares, value by 29% to QR215.83mn and deals by 30% to 3,553.

There was 52% plunge in the telecom sector’s trade volume to 0.35mn equities, 50% in value to QR9.58mn and 55% in transactions to 250.

The banks and financial services sector’s trade volume plummeted 51% to 1.47mn stocks, value by 55% to QR45.71mn and deals by 54% to 691.

The real estate sector saw 46% shrinkage in trade volume to 1.11mn shares, 52% in value to QR19.4mn and 32% in transactions to 512.

The insurance sector’s trade volume tanked 44% to 0.19mn equities, value by 37% to QR6.19mn and deals by 54% to 63.

The market witnessed 43% decline in the consumer goods sector’s trade volume to 0.8mn stocks, 38% in value to QR27.12mn and 40% in transactions to 603.

However, the transport sector’s trade volume soared 23% to 0.38mn shares, value by 36% to QR10.61mn and deals by 8% to 154.

The industrials sector reported 16% surge in trade volume to 2.52mn equities, 20% in value to QR97.23mn and 33% in transactions to 1,280.

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