The Qatar Stock Exchange opened the week weak with its key index retreating below 9,900 levels as Gulf funds turned bearish and there was weakened net buying support from non-Qatari institutions.
An across the board selling — particularly telecom, banking and real estate — led the 20-stock Qatar Index decline 0.56% to 9,847.05 points.
The Islamic equities were seen declining slower than the other indices in the market which is up 15.53% year-to-date.
Doha Bank sponsored exchange traded fund QETF reported 0.61% declines, while Masraf Al Rayan sponsored QATR was unchanged.
Trade turnover and volumes were on the decline on the bourse, where banking, industrials and transport sectors together accounted for about 73% of the total volume.
The Total Return Index shed 0.56% to 17,349.4 points, All Share Index by 0.54% to 2,903.78 points and Al Rayan Islamic Index (Price) by 0.42% to 2,340.18 points.
The telecom index contracted 1.02%, banks and financial services (0.68%), realty (0.56%), consumer goods (0.44%), industrials (0.33%), transport (0.17%) and insurance (0.09%).
About 70% of the stocks were in the red with major moves being Ooredoo, Qatar Islamic Bank, Commercial Bank, Woqod, Gulf International Services, Mazaya Qatar and Ezdan; whereas Zad and Nakilat were among the gainers.
The Gulf institutions turned net sellers to the tune of QR2.67mn compared with net buyers of QR10.91mn on October 4.
Non-Qatari institutions’ net buying weakened significantly to QR3.59mn against QR36.1mn the previous trading day.
However, non-Qatari individuals were net buyers to the extent of QR2.53mn compared with net sellers of QR5.37mn last Thursday.
Local individual investors’ net profit booking declined considerably to QR2.34mn against QR30.16mn on October 4.
Domestic institutions’ net selling decreased perceptibly to QR0.99mn compared to QR11.01mn the previous trading day.
The Gulf individual investors’ net profit booking eased marginally to QR0.12mn against QR0.44mn last Thursday.
Total trade volume declined 58% to 2mn shares, value by 62% to QR67.94mn and transactions by 47% to 1,383.
The insurance sector’s trade volume plummeted 73% to 0.04mn equities, 74% in value to QR1.41mn and 60% in deals to 23.
The real estate sector reported 66% plunge in trade volume to 0.2mn stocks, 49% in value to QR4.02mn and 51% in transactions to 147.
The transport sector’s trade volume tanked 64% to 0.36mn shares, value by 59% to QR8.38mn and deals by 8% to 208.
The banks and financial services sector saw 56% shrinkage in trade volume to 0.61mn equities, 76% in value to QR19.98mn and 52% in transactions to 440.
The industrials sector’s trade volume declined 51% to 0.48mn stocks, value by 63% to QR11.47mn and deals by 57% to 263.
There was 48% contraction in the telecom sector’s trade volume to 0.17mn shares, 29% in value to QR3.41mn and 54% in transactions to 91.
The consumer goods sector’s trade volume shed 42% to 0.15mn equities, value by 29% to QR19.26mn and deals by 31% to 211.
In the debt market, there was no trading of treasury bills and sovereign bonds.
