Profit booking – especially in real estate, banking and telecom sectors – led Qatar Stock Exchange open the week weak as its key index lost 36 points.

Increased net selling by domestic institutions and substantially lower buying support from their foreign counterparts rather drove the 20-stock Qatar Index down 0.36% to 10,128.65 points.

Both Gulf institutions and non-Qatari individual investors turned bearish in the market, which is down 2.88% year-to-date.

However, local retail investors turned bullish and there was a marginal dip in net selling by their Gulf counterparts in the bourse, where trading turnover and volumes were on the decline.

The index that tracks Shariah-principled stocks was seen falling slower than the other indices in the market, where banking and industrials stocks together constituted more than 56% of the total trading volume.

Market capitalisation fell 0.32% or about QR2bn to QR541.9bn with large, small and midcap equities dropping 0.4%, 0.13% and 0.05% respectively; even as microcaps gained 0.41%.

The Total Return Index fell 0.36% to 16,322.23 points, All Share Index by 0.26% to 2,820.5 points and Al Rayan Islamic Index by 0.06% to 3,963.98 points.

Real estate stocks shrank 1.02%, banks and financial services (0.53%), telecom (0.38%) and transport (0.19%); whereas consumer goods stocks gained 1.11%, insurance (0.65%) and industrials (0.21%).

Major losers included Ezdan, QNB, Commercial Bank, Doha Bank, Dlala, Salam International Investment, Widam Food, Ooredoo and Mesaieed Petrochemical Holding; even as Alijarah Holding, Industries Qatar, Aamal Company, Gulf International Services, Doha Insurance and United Development Company bucked the trend.

Domestic institutions’ net selling strengthened to QR11.31mn against QR3.49mn the previous trading day.

Non-Qatari institutions’ net buying weakened perceptibly to QR10.44mn compared to QR30.92mn last Thursday.

The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR0.33mn against net buyers of QR3.11mn on April 7.

Non-Qatari individual investors were also net sellers to the extent of QR0.04mn compared with net buyers of QR5.01mn the previous trading day.

However, local retail investors turned net buyers to the tune of QR3.33mn against net sellers of QR32.67mn last Thursday.

The GCC individual investors’ net profit booking weakened to QR2.09mn compared to QR2.85mn on April 7.

Total trade volume fell 33% to 6.21mn shares, value by 41% to QR222.18mn and deals by 32% to 3,777.

There was 66% plunge in the transport sector’s trade volume to 0.35mn equities, 75% in value to QR14.14mn and 60% in transactions to 267.

The real estate sector’s trade volume plummeted 57% to 0.8mn stocks, value by 67% to QR14.78mn and deals by 39% to 416.

The consumer goods sector reported 45% shrinkage in trade volume to 0.66mn shares, 51% in value to QR36.19mn and 50% in transactions to 451.

The insurance sector’s trade volume tanked 31% to 0.09mn equities, value by 43% to QR3.78mn and deals by 33% to 87.

The banks and financial services sector saw 21% decline in trade volume to 2.41mn stocks, 30% in value to QR81.16mn and 32% in transactions to 1,171.

The industrials sector’s trade volume shrank 16% to 1.08mn shares, value by 31% to QR43.94mn and deals by 10% to 879.

However, the market witnessed 18% surge in the telecom sector’s trade volume to 0.84mn equities, 51% in value to QR28.19mn and 9% in transactions to 506.

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