(MENAFN- Gulf Times) The Qatar Stock Exchange opened the week weak and its key barometer fell below 10,100 levels, mainly on foreign institutions' selling pressure.
The telecom, insurance, banking and real estate counters witnessed higher profit-booking, which led the 20-stock Qatar Index to decline for the second consecutive session by 0.52% to 10,050.7 points.
Large-cap stocks saw noticeable selling pressure on the bourse, which also saw weakened net buying from domestic institutions.
Islamic stocks, however, made marginal gains vis-à-vis decline in other indices in the market, which saw non-Qatari retail investors and Gulf institutions turn bullish amid lower net selling by local and Gulf individual investors.
Trade turnover and volumes were on the increase in the bourse, where banking, telecom and realty sectors together accounted for more than 94% of the total volumes.
Market capitalisation eroded more than QR2bn, or 0.47%, to QR534.99bn as large, micro and midcap equities fell 0.67%, 0.32% and 0.07% respectively, while small caps increased 0.51%.
The Total Return Index shed 0.52% to 16,854.43 points and the All Share Index by 0.43% to 2,843.06 points, while the Al Rayan Islamic Index was up 0.01% to 4,033.88 points.
The telecom sector's index shrank 0.73%, followed by insurance (0.67%), banks and financial services (0.65%), realty (0.61%), consumer goods (0.27%) and transport (0.18%); whereas industrials gained 0.24%.
About 56% of the traded stocks were in the red with major losers being QNB, Commercial Bank, Doha Bank, Ooredoo, Qatar Electricity and Water, Qatar Insurance, Qatar Islamic Insurance, Ezdan, United Development Company, Barwa, Milaha and Gulf Warehousing.
Nevertheless, Industries Qatar, Vodafone Qatar, Masraf Al Rayan, Qatar First Bank, Qatar General and Reinsurance, Ahli Bank and Islamic Holding Group were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR6.78mn compared with net buyers of QR4.97mn on May 18.
Domestic institutions' net buying weakened perceptibly to QR3.57mn against QR7.84mn the previous trading day.
However, non-Qatari retail investors turned net buyers to the extent of QR3.92mn compared with net sellers of QR1.76mn last Thursday.
The GCC (Gulf Cooperation Council) funds were also net buyers to the tune of QR1.85mn against net sellers of QR4.8mn on May 18.
Local retail investors' net selling declined to QR1.63mn compared to QR3.82mn the previous trading day.
The GCC individual investors' net profit-booking fell to QR0.93mn against QR2.41mn last Thursday.
Total trade volumes rose 13% to 9.72mn shares and value by 5% to QR183.19mn, while deals fell 13% to 1,960.
The banks and financial services sector's trade volume more than doubled to 4.61mn equities and value soared 54% to QR86.34mn but transactions fell 3% to 850.
The real estate sector's trade volume was up 6% to 2.2mn stocks, value by 1% to QR45.35mn and deals by 9% to 256.
However, there was a 54% plunge in the transport sector's trade volume to 0.12mn shares, 35% in value to QR4.34mn and 19% in transactions to 121.
The telecom sector's trade volume plummeted 41% to 2.36mn equities, value by 38% to QR24.41mn and deals by 38% to 307.
The insurance sector reported a 20% shrinkage in trade volume to 0.08mn stocks and 19% in value to QR5.38mn but on a 82% increase in transactions to 62.
The industrials sector's trade volume tanked 13% to 0.21mn shares, value by 27% to QR10.66mn and deals by 23% to 227.
The consumer goods sector saw a 13% decline in trade volume to 0.14mn equities but value rose 9% to QR6.72mn despite an 18% fall in transactions to 137.
In the debt market, there was no trading of treasury bills and government bonds.
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