More than 80% of the traded equities were in the red as the 20-stock Qatar Index shed 0.87% or 97 points to 11,116.42 points on lower trading turnover and volumes.
Foreign institutions’ weakened buying coupled with bearish outlook of local retail investors and Gulf institutions dampened sentiments in the market, which is however up 6.59% year-to-date.
However, domestic institutions’ net selling weakened and there was increased buying support from non-Qatari individuals in the bourse, where banking, industrials and real estate stocks together constituted more than 72% of the total trading volume.
Market capitalisation eroded 0.67% or more than QR4bn to QR594.94bn as large, small, mid and microcap equities lost 0.84%, 0.78%, 0.54% and 0.52% respectively.
The Total Return Index shrank 0.87% to 17,985.63 points, All Share Index by 0.74% to 3,057.9 points and Al Rayan Islamic Index by 0.62% to 4,198.63 points.
Transport plunged 2.02%, telecom (1.49%), realty (0.91%), consumer goods (0.83%), industrials (0.69%), insurance (0.61%) and banks and financial services (0.4%).
Major losers included Nakilat, Ooredoo, Mazaya Qatar, Barwa, United Development Company, Ezdan, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Aamal Company, Qatar Insurance, Qatar Islamic Bank, Masraf Al Rayan, Qatari First Bank and Doha Bank; even as Qatari Investors Group and Alijarah Holding bucked the trend.
Non-Qatari institutions’ net buying plummeted to QR7.89mn compared to QR22.18mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR5.22mn against net buyers of QR3.77mn on Monday.
Local retail investors were also net sellers to the extent of QR8.94mn compared with net buyers of QR8.25mn on August 22.
However, domestic institutions’ net profit booking weakened perceptibly to QR2.77mn against QR41.96mn the previous day.
The GCC individual investors turned net buyers to the tune of QR1.56mn compared with net sellers of QR1.23mn on Monday.
Non-Qatari individual investors’ were increasingly net buyers to the extent of QR7.46mn against QR2.97mn on August 22.
Total trade volume fell 21% to 4.1mn shares, value by 22% to QR160.76mn and deals by 14% to 3,205.
The telecom sector saw 76% plunge in trade volume to 0.37mn equities, 60% in value to QR15.85mn and 48% in transactions to 435.
The industrials sector’s trade volume plummeted 40% to 0.81mn stocks, value by 48% to QR36.02mn and deals by 14% to 820.
The market witnessed 27% shrinkage in the real estate sector’s trade volume to 0.58mn shares, 22% in value to QR12.74bn and 10% in transactions to 427.
The consumer goods sector’s trade volume tanked 27% to 0.24mn equities but value gained 8% to QR16.34mn and deals by 9% to 253.
The insurance sector reported 10% decline in trade volume to 0.09mn stocks but on 23% increase in value to QR8.11mn; even as there was 12% decline in transactions to 112.
However, the banks and financial services sector’s trade volume soared 86% to 1.58mn shares and value by 26% to QR58.83mn on flat deals at 879.
The transport sector saw 83% surge in trade volume to 0.42mn equities, 15% in value to QR12.88mn and 37% in transactions to 279.
In the debt market, there was no trading of treasury bills and government bonds.