Qatar Stock Exchange on Sunday opened the week weak on an across the board net selling – particularly in transport, insurance and industrials – and its key index fell 22 points.

Local retail investors were seen increasingly into profit booking and foreign institutions’ buying support weakened, leading the 20-stock Qatar Index fall 0.21% for the third straight session to 10,367.74 points.

Trade turnover and volumes were also on the slide in the bourse, whose year-to-date losses widened further to 0.59%.

Islamic stocks were seen declining faster than the conventional ones in the market, where banking and telecom sectors constituted about 62% of the total volumes.

Lower buying support of Gulf individual investors was also visible in the bourse, which saw small, micro and midcap equities decline faster.

Market capitalisation was down 0.16% or QR88mn to QR557.24bn as small cap equities fell 0.81%, micro and midcaps (0.44% each), and large caps (0.14%).

The Total Return Index fell 0.21% to 16,774.31 points, All Share Index by 0.23% to 2,859.42 points and Al Rayan Islamic Index by 0.48% to 3,882.53 points.

Transport stocks prices declined 0.65%, insurance (0.54%), industrials (0.44%), telecom (0.28%), consumer goods (0.27%), realty (0.07%) and banks and financial services (0.06%).

About 67% of the stocks were in the red with major losers being Milaha, Nakilat, Qatar Insurance, Qatar National Cement, Qatari Investors Group, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Barwa, Mazaya Qatar, Ooredoo, Vodafone Qatar, Masraf Al Rayan, QIIB and Qatar First Bank.

Nevertheless, QNB, Industries Qatar, Commercial Bank, Alijarah Holding and Ezdan saw their scrips extend modest gains.

Local retail investors’ net profit booking strengthened to QR18.99mn compared to QR4.44mn last Thursday.

Non-Qatari institutions’ net buying weakened perceptibly to QR9.07mn against QR27.23mn on October 13.

The GCC (Gulf Cooperation Council) individual investors’ net buying fell to QR1.49mn compared to QR2.42mn the previous day.

However, domestic institutions turned net buyers to the tune of QR6.8mn against net sellers of QR23.52mn last Thursday.

Non-Qatari individual investors were also net buyers to the extent of QR3.44mn compared with net sellers of QR0.19mn on October 13.

The GCC institutions’ net profit booking fell marginally to QR1.81mn against QR1.9mn the previous trading day.

Total trade volume fell 61% to 2.45mn shares, value by 61% to QR73.95mn and deals by 20% to 1,882.

There was 85% plunge in the transport sector’s trade volume to 0.17mn equities and 74% in value to QR7.1mn but on 77% fall in transactions to 232.

The real estate sector’s trade volume plunged 72% to 0.34mn stocks, value by 70% to QR6.93mn and deals by 32% to 213.

The market witnessed 60% shrinkage in the telecom sector’s trade volume to 0.57mn shares, 73% in value to QR8.3mn and 68% in transactions to 122.

The industrials sector’s trade volume tanked 55% to 0.25mn equities, value by 43% to QR13.66mn and deals by 8% to 418.

The insurance sector reported 50% decline in trade volume to 0.03mn stocks and 67% in value to QR1.54mn but on flat transactions at 58.

The banks and financial services sector’s trade volume shrank 45% to 0.94mn shares, value by 59% to QR30.43mn and deals by 13% to 675.

The consumer goods sector witnessed 22% dip in trade volume to 0.14mn equities but on 6% rise in value to QR5.99mn; even as there was 28% fall in transactions to 164.

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