(MENAFN- Gulf Times) An across-the-board selling — especially in realty, telecom, transport and industrials — on Sunday dragged the Qatar Stock Exchange below 9,000 points.
About 93% of the traded scrips were in the negative turf as the 20-stock Qatar Index plunged 2.69% to 8,959.3 points, reflecting the weakness in the US markets on Friday on apprehensions over rate hike.
Increased net selling by Gulf institutions and domestic funds' bearish outlook rather dampened the sentiments on the bourse, which is, however up 5.11% year-to-date.
Profit booking was particularly stronger in the mid and large cap segments in the market, whose capitalisation eroded 2.53% to QR489.12bn.
Islamic stocks were seen declining slower than the other indices on the bourse, which however saw local retail investors turn bullish and weakened net selling from foreign funds.
Trade turnover and volumes were on the increase in the market, where banking, real estate and industrials sectors together accounted for more than 69% of the total volume.
The Total Return Index shed 2.69% to 15,024.21 points, Al Rayan Islamic Index by 2.58% to 3,544.43 points and All Share Index by 2.67% to 2,521.75 points.
The realty index plummeted 4.57%, telecom (4.44%), transport (4.4%), industrials (2.74%), insurance (2.33%), banks and financial services (1.63%) and consumer goods (1.49%).
Major losers included Industries Qatar, Ooredoo, Qatar Insurance, Nakilat, Ezdan, Mazaya Qatar, Aamal Company, Qatar Electricity and Water, Gulf International Services, Mesaieed Petrochemical Holding, QNB, Qatar Islamic Bank, Commercial Bank, QIIB, Masraf Al Rayan, Al Khaliji, Dlala and Qatari German Company for Medical Devices.
The Gulf institutions' net profit booking strengthened considerably to QR6.83mn compared to QR2.11mn on February 1.
Domestic institutions turned net sellers to the tune of QR6.63mn against net buyers of QR10.64mn the previous trading day.
Non-Qatari retail investors' net buying fell perceptibly to QR0.93mn compared to QR1.58mn last Thursday.
However, local individuals turned net buyers to the extent of QR13.8mn against net sellers of QR3.93mn on February 1.
Non-Qatari funds' net profit booking weakened significantly to QR0.53mn compared to QR6mn the previous trading day.
The Gulf individual investors' net selling declined marginally to QR0.73mn against QR1.21mn last Thursday.
Total trade volume grew 51% to 5.79mn shares, value by 80% to QR181.64mn and transactions by 57% to 3,283.
The transport sector's trade volume almost tripled to 0.36mn equities and value more than doubled to QR8.93mn on 53% rise in deals to 194.
The consumer goods sector's trade volume more than doubled to 1.09 stocks and value grew more than five-fold to QR31.78mn on more than doubled transactions to 368.
The industrials sector's trade volume more than doubled to 1.09mn shares, value soared 15% to QR26.51mn and deals by 38% to 710.
The real estate sector reported 66% surge in trade volume to 1.21mn equities, 94% in value to QR22.18mn and 79% in transactions to 651.
The banks and financial services sector's trade volume shot up 26% to 1.71mn stocks, value by 69% to QR72.43mn and deals by 30% to 973.
There was 19% expansion in the telecom sector's trade volume to 0.92mn shares and 67% in value to QR15.97mn on more than doubled transactions to 314.
However, the insurance sector's trade volume tanked 33% to 0.08mn equities, whereas value rose 8% to QR3.83mn and deals by 33% to 73.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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