The Qatar Stock Exchange continued to remain under the bearish spell for the second day on Monday, dropping more than 109 points, mainly dragged by banking and industrials equities.
Strong selling pressure from Gulf and domestic funds drove the 20-stock Qatar Index down 1.1% to 9,832.68 points.
Doha Bank-sponsored exchange traded fund QATR declined 1.06%; whereas Masraf Al Rayan-sponsored QETF gained 1.18%.
Islamic equities were seen dropping slower than the other indices in the market, which reported 15.36% gains year-to-date.
Trade turnover and volumes were on the decline in the bourse, where the banking and telecom sectors together accounted for more than 49% of the total volume.
The Total Return Index fell 1.1% to 17,324.08 points, the All Share Index by 1.1% to 2,873.2 points and the Al Rayan Islamic Index (Price) by 0.74% to 2,363.74 points.
The banks and financial services index shrank 1.8%, followed by industrials (1.11%), telecom (0.87%) and realty (0.41%); while consumer goods gained 0.38%, transport (0.33%) and insurance (0.09%).
About 61% of the traded stocks were in the red with major losers being QNB, Qatar Islamic Bank, Masraf Al Rayan, Industries Qatar, Qatari Investors Group, Vodafone Qatar, Ezdan, Mazaya Qatar and United Development Company; even as Nakilat, Zad Holding and Barwa were among the gainers.
Gulf institutions’ net profit-booking strengthened substantially to QR28.87mn compared to QR5.41mn on September 16.
Domestic institutions turned net sellers to the tune of QR25.02mn against net buyers of QR0.63mn the previous day.
Gulf individuals turned net sellers to the extent of QR0.16mn compared with net buyers of QR0.34mn on Sunday.
Non-Qatari institutions’ net buying weakened significantly to QR23.17mn against QR36.6mn on September 16.
However, local individual investors were net buyers to the extent of QR27.66mn compared with net sellers of QR34.37mn the previous day.
Non-Qatari individuals’ net buying increased perceptibly to QR3.22mn against QR2.21mn on Sunday.
Total trade volume fell 8% to 5.59mn shares and value by 7% to QR183.16mn, while transactions rose 8% to 3,130.
The banks and financial services sector saw a 52% plunge in trade volume to 1.47mn equities, 41% in value to QR60.23mn and 19% in deals to 852.
The consumer goods sector’s trade volume plummeted 33% to 0.28mn stocks, value by 35% to QR28.45mn and transactions by 4% to 345.
There was a 22% shrinkage in the transport sector’s trade volume to 0.21mn shares, 43% in value to QR5.28mn and 27% in deals to 201.
However, the insurance sector’s trade volume more than quadrupled to 0.46mn equities and value also more than quadrupled to QR16.78mn on more-than-doubled transactions to 139.
The telecom sector’s trade volume doubled to 1.28mn stocks, value soared 62% to QR14.1mn and deals by 27% to 254.
The real estate sector’s trade volume expanded 24% to 0.97mn shares to more than double value to QR27.95mn on a 65% jump in transactions to 578.
The industrials sector reported a 17% growth in trade volume to 0.91mn equities, 67% in value to QR30.37mn and 29% in deals to 761.
In the debt market, there was no trading of treasury bills and sovereign bonds.