The Qatar Stock Exchange on Monday kept sliding for the fourth consecutive day to fall below the 10,200 mark, mainly on insurance and real estate stocks.
Local retail investors’ bearish grip rather drove the 20-stock Qatar Index down 0.82% or 84 points to 10,145.39 points.
The Gulf individual investors were also marginally bearish on the market, which is down 2.72% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining against declines in the other indices in the market, where turnover and volumes were, however, on the rise.
Mid and large cap stocks came under profit booking on the market, where industrials, banking, realty and telecom stocks together accounted for more than 82% of the total trading volume.
Market capitalisation eroded 0.51% or about QR3bn to QR542.75bn as mid and large cap equities fell 0.9% and 0.63%; while small and micro caps gained 2.76% and 0.18% respectively.
The Total Return Index fell 0.66% to 16,316.73 points and All Share Index by 0.32% to 2,818.48 points; while Al Rayan Islamic Index rose 0.17% to 3,969.52 points.
Insurance stocks shrank 1.3%, real estate (1.2%), transport (0.6%), consumer goods (0.54%) and banks and financial services (0.52%); whereas industrials and telecom gained 0.92% and 0.9% respectively.
About 53% of the stocks were in the red with major shakers being Qatar Insurance, Ezdan, Mazaya Qatar, Milaha, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar, Aamal Company, Qatar Islamic Bank, QNB, Doha Bank, Alijarah Holding, Dlala and Islamic Holding Group.
However, Industries Qatar, Gulf International Services, Barwa, Gulf Warehousing, Qatar National Cement, Barwa, Commercial Bank, al khaliji and Qatari Investors Group bucked the trend.
Local retail investors turned net sellers to the tune of QR15.16mn compared with net buyers of QR12.87mn on March 27.
The GCC (Gulf Cooperation Council) individual investors were also net sellers to the extent of QR0.07mn against net buyers of QR1.12mn on Sunday.
Non-Qatari institutions’ net buying weakened to QR2.26mn compared to QR2.84mn the previous day.
However, domestic institutions turned net buyers to the tune of QR3.36mn against net sellers of QR15.82mn on March 27.
The GCC institutions were also net buyers to the extent of QR4.92mn compared with net profit takers of QR0.98mn on Sunday.
Non-Qatari individual investors were buyers to the tune of QR4.66mn.
Total trade volume rose 15% to 10.15mn shares, value by 35% to QR369.77mn and deals by 26% to 4,608.
The transport sector’s trade volume more than doubled to QR1.18mn equities and value almost tripled to QR58.37mn on more than doubled transactions to 653.
The telecom sector’s trade volume soared 48% to 1.49mn stocks and value more than doubled to QR31.57mn on almost tripled deals to 719.
The insurance sector saw 17% surge in trade volume to 0.07mn shares, 23% in value to QR3.8mn and 62% in transactions to 81.
The industrials sector’s trade volume expanded 10% to 2.75mn equities, value by 42% to QR98.88mn and deals by 7% to 1,151.
The banks and financial services sector reported 6% rise in trade volume to 2.62mn stocks, 15% in value to QR119.99mn and 15% in transactions to 1,122.
However, the consumer goods sector’s trade volume plummeted 28% to 0.54mn shares, value by 21% to QR26.52mn and deals by 20% to 414.
The market witnessed 4% decline in the real estate sector’s trade volume to 1.49mn equities but on 6% rise in value to QR30.64mn. Transactions were down 9% to 468.
In the debt market, there was no trading of treasury bills and government bonds.