Qatar Stock Exchange on Sunday opened the week weak with its key index losing 89 points to settle below the 9,900 mark.

Realty, industrials and insurance counters witnessed higher than average selling pressure to drive the 20-stock Qatar Index down for the third consecutive session by 0.9% to 9,871.73points. The market’s year-to-date losses have widened to 5.35%.

Foreign institutions’ buying interests weakened considerably and their Gulf counterparts as well as non-Qatari individuals turned net sellers in the bourse, where Islamic stocks declined faster than the conventional ones.

Trade turnover and volumes were on the decline in the market, where telecom, banking, real estate and insurance stocks together constituted about 82% of the total volumes.

However, local retail investors and domestic institutions turned bullish net buyers and there was marginally increased buying support from Gulf individuals.

Market capitalisation shrank QR4bn or 0.75% to QR531.8bn with microcap equities plunging 1.05%, small caps (0.99%), midcaps (0.59%) and large caps (0.56%).

The Total Return Index fell 0.9% to 15,971.81 points, All Share Index by 0.82% to 2,722.73 points and Al Rayan Islamic Index by 1.25% to 3,640.16 points.

Real estate sector saw its index decline 1.79%, industrials (1.64%), insurance (0.92%), consumer goods (0.75%), banks and financial services (0.3%) and telecom (0.04%), while transport gained 0.5%.

About 78% of the traded stocks were in the red with major losers being Industries Qatar, Ezdan, Qatar Insurance, Mazaya Qatar, Aamal Company, Gulf International Services, Qatari Investors Group, Qatar Islamic Bank, Commercial Bank, al khaliji, Qatar First Bank, Medicare Group, Salam International Investment, Vodafone Qatar and Nakilat.

Nevertheless, Masraf Al Rayan, Al Khaleej Takaful, Milaha and United Development Company saw their stocks make modest gains.

Non-Qatari institutions’ net buying weakened considerably to QR45.41mn compared to QR104.35mn the previous trading day.

The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR3.8mn against net buyers of QR15.97mn last Thursday.

Non-Qatari individual investors were also net sellers to the extent of QR1.11mn compared with net buyers of QR7.88mn on November 10.

However, domestic institutions’ net profit booking declined perceptibly to QR68.32mn against QR124.44mn the previous trading day.

Local retail investors turned net buyers to the tune of QR24.34mn compared with net sellers of QR7.01mn last Thursday.

The GCC individual investors’ net buying increased marginally to QR3.48mn against QR3.14mn on November 10.

Total trade volume fell 10% to 7.8mn shares, value by 25% to QR269.81mn and deals by 17% to 3,173.

The industrials sector reported 70% plunge in trade volume to 0.84mn equities, 67% in value to QR52.67mn and 52% in transactions to 400.

The banks and financial services sector’s trade volume plummeted 37% to 1.32mn stocks, value by 32% to QR56.96mn and deals by 31% to 820.

There was 32% shrinkage in the consumer goods sector’s trade volume to 0.39mn shares and 75% in value to QR8.84mn but on 9% rise in transactions to 327.

The real estate sector’s trade volume tanked 24% to 1.16mn equities, value by 38% to QR18.98mn and deals by 52% to 290.

The market witnessed 10% decline in the transport sector’s trade volume to 0.19mn stocks but on 3% rise in value to QR5.75mn. Transactions shrank 26% to 109.

However, the insurance sector’s trade volume grew about seven-fold to 1.08mn shares and value by about six-fold to QR54.74mn on 79% expansion in deals to 202.

The telecom sector’s trade volume more than doubled to 2.82mn stocks and value also more than doubled to QR71.87mn on 62% jump in transactions to 1,025.

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