Foreign institutions’ substantially lower buying interests on Sunday led the Qatar Stock Exchange open the week weak and its key index lost 124 points to settle below the 10,300 mark.
Notwithstanding the robust buying interests in the small cap equities, the 20-stock Qatar Index shed 1.2% to 10,251.97 points.
A marginally higher net selling by domestic institutions also hastened the overall bearish run in the bourse, which is down 1.7% year-to-date.
Selling pressure was squarely visible in the transport, banking and real estate counters in the market, where trading turnover and volumes were on the decline.
The index that tracks Shariah-principled stocks was seen declining slower than the other indices in the market, where banking, industrials and consumer goods stocks together constitute more than 71% of the total trading volume.
Market capitalisation was seen eroding 0.96% or more than QR5bn to QR558.73bn as with mid, large and microcaps falling 1.53%, 1.15% and 0.25% respectively; even as small caps soared 2.26%.
The Total Return Index fell 1.2% to 16,520.96 points, All Share Index by 0.91% to 2,855.73 points and Al Rayan Islamic Index by 0.43% to 4,044.34 points.
Transport stocks shrank 1.74%, banks and financial services (1.43%), realty (1.34%), insurance (0.72%) and industrials (0.33%); while telecom and consumer goods rose 1.3% and 0.55% respectively.
About 76% of the stocks were in the red with major shakers being Ahli Bank, Commercial Bank, Qatar Islamic Bank, QIIB, QNB, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Aamal Company, Vodafone Qatar, Barwa, Ezdan, Mazaya Qatar, Gulf Warehousing and Nakilat.
However, Ooredoo, Qatari Investors Group, Dlala, Widam Food and Medicare Group were seen bucking the trend.
Non-Qatari institutions’ net buying weakened considerably to QR9.05mn compared to QR84.28mn last Thursday.
Domestic institutions’ net profit booking increased to QR15.95mn against QR13.43mn the previous trading day.
However, local retail investors turned net buyers to the tune of QR1.2mn compared with net sellers of QR50.42mn on March 31.
The GCC (Gulf Cooperation Council) institutions’ net buying surged to QR14.6mn against QR1.76mn last Thursday.
Non-Qatari individual investors’ net selling weakened to QR6.35mn compared to QR12.4mn the previous trading day.
The GCC individual investors net profit booking shrank to QR2.47mn against QR9.8mn on March 31.
Total trade volume fell 33% to 7.16mn shares, value by 41% to QR287.41mn and deals by 32% to 4,508.
There was 96% plunge in the insurance sector’s trade volume to 0.01mn equities, 95% in value to QR1.02mn and 81% in transactions to 35.
The transport sector’s trade volume plummeted 77% to 0.38mn stocks, value by 67% to QR18.43mn and deals by 59% to 363.
The market witnessed 50% shrinkage in the telecom sector’s trade volume to 0.72mn shares, 58% in value to QR26.3mn and 47% in transactions to 796.
The industrials sector’s trade volume tanked 38% to 1.26mn equities, value by 42% to QR74.24mn and deals by 30% to 910.
The real estate sector saw 36% in trade volume to 0.96mn stocks, 32% in value to QR23.17mn and 12% in transactions to 496.
The banks and financial services sector’s trade volume shrank 16% to 2.76mn shares, value by 40% to QR98.71mn and deals by 31% to 1,226.
However, the consumer goods sector reported 86% surge in trade volume to 1.08mn equities, 75% in value to QR45.53mn and 67% in transactions to 682.
In the debt market, there was no trading of treasury bills and government bonds.