Bearish sentiments continued to haunt the Qatar Stock Exchange on Monday for the fourth straight session and its key index lost a sizeable 127 points to settle below the 9,800 mark. More than 92% of the traded stocks were in the red.

An across the board selling with the realty, transport, telecom and insurance suffering the most, led the 20-stock Qatar Index knock off 1.28% to 9,744.97points. The market’s year-to-date losses have widened further to 6.56%.

“A fall below 9,700 points would lead to 9,500 points and maybe further down to 9,200 points. Weekly relative strength index indicator is currently looking bearish, while the daily one is also negative but resides in the oversold territory,” Kamco said in its technical analysis.

There was weakening of buying interests from foreign institutions and local retail investors and Gulf individuals turned bearish in the bourse, where Islamic stocks declined slower than the conventional ones.

Trade turnover and volumes were on the decline in the market, where real estate, banking and insurance stocks together constituted about 79% of the total volumes.

However, Gulf institutions and non-Qatari individual investors turned net buyers and local retail investors and domestic institutions’ net selling weakened.

“It is still early to anticipate an end to the negative tone but re-gaining momentum above the resistance level at 10,100 points would be the first positive sign and could promote further advance towards 10,600 points and 10,900 points,” Kamco analysis said.

Market capitalisation eroded about QR6bn or 1.08% to QR526.08bn with midcap equities losing 1.16%, large caps (0.92%), small caps (0.72%) and microcaps (0.68%).

The Total Return Index fell 1.28% to 15,766.71 points, All Share Index by 1.18% to 2,690.64 points and Al Rayan Islamic Index by 1.09% to 3,600.48 points.

Real estate sector saw its index decline 2.33%, transport (1.98%), telecom (1.67%), insurance (1.52%), banks and financial services (0.86%), consumer goods (0.72%) and industrials (0.5%).

Major losers included Industries Qatar, Ezdan, Qatar Insurance, Barwa, Ooredoo, Vodafone Qatar, Qatar National Cement, Gulf International Services, Doha Bank, Commercial Bank, QNB, Masraf Al Rayan, al khaliji, Qatar First Bank, Nakilat and Milaha. Nevertheless, Aamal Company, Qatar Electricity and Water and Qatari Investors Group saw their stocks make modest gains.

Non-Qatari institutions’ net buying weakened considerably to mere QR0.58mn compared to QR45.41mn on November 13.

The GCC (Gulf Cooperation Council) individual investors turned net sellers to the tune of QR0.51mn against net buyers of QR3.48mn on Sunday.

Local retail investors’ net buying declined to QR19.92mn compared to QR24.34mn the previous day.

However, the GCC institutions turned net buyers to the extent of QR8.42mn against net sellers of QR3.8mn on November 13.

Non-Qatari individual investors were also net buyers to the tune of QR2.14mn compared with net sellers of QR1.11mn on Sunday.

Domestic institutions’ net profit booking declined perceptibly to QR30.88mn against QR68.32mn the previous day.

Total trade volume fell 22% to 6.05mn shares and value by 15% to QR230.61mn, while deals rose 15% to 3,659.

The market witnessed 82% plunge in the telecom sector’s trade volume to 0.52mn equities, 80% in value to QR14.54mn and 53% in transactions to 482.

The consumer goods sector’s trade volume plummeted 67% to 0.13mn stocks, while value was up 6% to QR9.34mn. Deals were down 9% to 299.

The industrials sector reported 55% shrinkage in trade volume to 0.38mn shares and 41% in value to QR31.03mn but on 43% increase in transactions to 570.

However, the real estate sector’s trade volume soared 60% to 1.86mn equities and value by 88% to QR35.75mn on more than doubled deals to 833.

There was 37% surge in the transport sector’s trade volume to 0.26mn stocks, 15% in value to QR6.63mn and 31% in transactions to 143.

The banks and financial services sector’s trade volume expanded 33% to 1.75mn shares, value by 27% to QR72.43mn and deals by 27% to 1,039.

The insurance sector’s trade volume grew 7% to 1.16mn equities, value by 11% to QR60.9mn and transactions by 45% to 293.

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