The Qatar Stock Exchange, which once neared 8,800 points, could not sustain the initial tempo that it finally settled 76 points lower and the key index fell below 8,700 levels.
The local retail investors’ increased net selling drove the 20-stock Qatar Index down 0.87% to 8,687.59 points.
Foreign individuals were seen bearish, albeit at lower levels, on the bourse, whose year-to-date losses were at 16.67%.
Market capitalisation saw more than QR3bn or 0.71% shrinkage to QR490.34bn mainly owing to small and microcap segments.
Islamic stocks were seen declining slower than the main index on the market, where domestic funds turned bullish and there was weakened net selling by foreign institutions.
Trade turnover and volumes were on the decline on the market, where the real estate, industrials and consumer goods sectors together accounted for more than three-fourth of the total trading volume.
The Total Return Index declined 0.87% to 16,701.6 points, All Share Index by 0.75% to 2,700.03 points and Al Rayan Islamic Index (Price) by 0.86% to 1,903.66 points.
The telecom index plummeted 3.54%, realty (2.26%), transport (1.39%), banks and financial services (0.97%), consumer goods and services (0.21%) and insurance (0.17%); while industrials rose 0.84%.
As much as 60% of the traded constituents were in the red with major losers being Ooredoo, Vodafone Qatar, Barwa, Gulf Warehousing, Milaha, Commercial Bank, Doha Bank, Qatar First Bank, Salam International Investment, Mannai Corporation, Al Meera and Baladna; while Qatar Oman Investment, Dlala, Alijarah Holding, Qatar German Company for Medical Devices, Islamic Holding Group, Industries Qatar, Gulf International Services, Al Khaleej Takaful and Qatari Investors Group were among the gainers.
Local retail investors’ net selling increased substantially to QR32.53mn compared to QR13.35mn on April 30.
Foreign individuals were net sellers to the tune of QR0.32mn against net buyers of QR2.86mn the previous day.
The Gulf individuals’ net profit booking grew marginally to QR0.17mn compared to QR0.05mn last Thursday.
The Arab institutions’ net buying decreased considerably to QR0.2mn against QR4.5mn on April 30.
The Arab individuals’ net buying shrank perceptibly to QR0.68mn compared to QR3.1mn the previous day.
The Gulf funds’ net buying declined significantly to QR2.39mn against QR10.12mn last Thursday.
However, domestic funds were net buyers to the extent of QR33.36mn compared with net buyers of QR18.3mn on April 30.
Foreign institutions’ net selling contracted noticeably to QR3.59mn against QR26.54mn the previous day.
Total trade volumes fell 42% to 187.86mn shares, value by 50% to QR244.2mn and transactions by 51% to 6,457.
The real estate sector’s trade volume plummeted 69% to 48.07mn equities, value by 62% to QR48.47mn and deals by 67% to 1,084.
There was 46% plunge in the transport sector’s trade volume to 3.1mn stocks, 51% in value to QR9.69mn and 25% in transactions to 492.
The telecom sector’s trade volume tanked 42% to 2.88mn shares, value by 36% to QR11.92mn and deals by 3% to 787.
The industrials sector reported 33% shrinkage in trade volume to 47.4mn equities, 59% in value to QR43.51mn and 46% in transactions to 1,157.
The banks and financial services sector’s trade volume shrank 19% to 32.31mn stocks, value by 62% to QR53.4mn and deals by 68% to 1,480.
However, the insurance sector’s trade volume more than doubled to 8.11mn shares and value also more than doubled to QR15.86mn on 14% jump in transactions to 359.
The consumer goods and services sector’s trade volume was up 3% to 45.97mn equities, whereas value declined 2% to QR61.35mn and deals by 24% to 1,098.
In the debt market, there was no trading of sovereign bonds and treasury bills.