Vodafone Qatar’s deletion from the MSCI emerging market index had a profound effect on the Qatar Stock Exchange, which on Tuesday fell for the fifth consecutive day by 65 points to settle below the 9,700 mark.

An across the board selling with realty, telecom and insurance suffering the most, led the 20-stock Qatar Index shed 0.67% to 9,679.92points. The market’s year-to-date losses have widened further to 7.19%.

“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 had said in its technical analysis.

Foreign and Gulf institutions as well as local retail investors turned net sellers in the bourse, where Islamic stocks declined slower than the conventional ones.

Trade turnover and volumes were however on the rise in the market, where banking, telecom and real estate stocks together constituted more than 89% of the total volumes.

However, domestic institutions and Gulf individuals turned bullish and there was increased buying support from non-Qatari individual investors.

Market capitalisation eroded about QR3bn or 0.69% to QR523.48bn with mid, large and small cap equities losing 0.8%, 0.4% and 0.04% respectively, even as micro caps were up 0.13%.

The Total Return Index fell 0.67% to 15,661.46 points, All Share Index by 0.56% to 2,675.48 points and Al Rayan Islamic Index by 0.44% to 3,584.75 points.

Real estate sector saw its index decline 1.47%, telecom (0.71%), insurance (0.67%), banks and financial services (0.46%), consumer goods (0.26%), industrials (0.22%) and transport (0.05%).

More than 56% of the traded stocks were in the red with major losers being Vodafone Qatar, Ezdan, Commercial Bank, Qatar Insurance, Doha Bank, Qatari Investors Group, Qatar Industrial Manufacturing, Qatar Electricity and Water, Gulf International Services, Barwa, United Development Company and Nakilat.

Nevertheless, Industries Qatar, Ooredoo, Mazaya Qatar and Qatar First Bank were among the gainers.

Non-Qatari institutions turned net sellers to the tune of QR14.43mn compared with net buyers of QR0.88mn on November 14.

Local retail investors were also net sellers to the extent of QR13.89mn against net buyers of QR19.92mn the previous day.

The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR6mn compared with net buyers of QR8.42mn on Monday.

However, domestic institutions turned net buyers to the extent of QR25.94mn against net sellers of QR30.88mn on November 14.

The GCC individual investors were also net buyers to the tune of QR2.5mn compared with net sellers of QR0.51mn the previous day.

Non-Qatari individual investors’ net buying strengthened to QR5.9mn against QR2.14mn on Monday.

Total trade volume rose 84% to 11.11mn shares, value by 6% to QR244.96mn and deals by 17% to 4,276.

The telecom sector’s trade volume grew more than seven-fold to 3.89mn equities and value more than tripled to QR45.39mn on more than doubled transactions to 1,065.

The banks and financial services sector’s trade volume more than doubled to 4.15mn stocks, value soared 34% to QR97.06mn and deals by 36% to 1,418.

There was 85% surge in the consumer goods sector’s trade volume to 0.24mn shares and 42% in value to QR13.23mn but on 24% decline in transactions to 227.

The industrials sector’s trade volume expanded 21% to 0.46mn equities, while value shrank 11% to QR27.75mn and deals by 16% to 479.

The real estate sector reported 1% jump in trade volume to 1.87mn stocks but on 8% fall in value to QR33mn and 25% in transactions to 622.

However, the insurance sector’s trade volume plummeted 74% to 0.3mn shares and value by 62% to QR23.42mn, while deals rose 17% to 343.

The market witnessed 31% plunge in the transport sector’s trade volume to 0.18mn equities, 23% in value to QR5.12mn and 15% in transactions to 122.

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