(MENAFN- Gulf Times) Qatar Stock Exchange on Sunday retreated below 12,000 levels on an across-the-board selling, particularly in the real estate and industrials stocks.
Local retail investors turned bearish as the 20-stock Qatar Index (based on price data) fell 0.96% to 11,964.15 points amid rise in trade volumes.
The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the bourse, which is down 2.62% year-to-date.
However, buying interests were intense among domestic institutions and foreign retail investors in the market, where real estate, industrials and banking stocks together cornered more than 76% of the total trading volume.
Market capitalisation eroded 0.73% or about QR5bn to QR652.13bn with small, large, mid and micro cap equities losing 1.14%, 0.7%, 0.63% and 0.55% respectively.
The Total Return Index lost 0.96% to 18,351.85 points, All Share Index by 0.84% to 3,177.26 points and Al Rayan Islamic Index by 1.27% to 4,332.36 points.
Realty stocks plunged 1.69%, industrials (1.03%), telecom (0.78%), banks and financial services (0.69%), transport (0.27%), insurance (0.2%) and consumer goods (0.11%).
About 77% of the stocks were in the red with major losers being Mazaya Qatar, Ezdan, United Development Company, Industries Qatar, Aamal Company, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Vodafone Qatar, Masraf Al Rayan, Dlala, Islamic Holding Group and Nakilat.
Qatari retail investors turned net sellers to the tune of QR21.71mn against net buyers of QR26.13mn the previous trading day.
Foreign institutions' net profit booking weakened to QR29.4mn compared to QR51.25mn last Thursday.
However, domestic institutions' net buying rose to QR36.85mn against QR21.82mn on March 12.
Non-Qatari individual investors' net buying surged to QR14.26mn compared to QR3.33mn the previous trading day.
Total trade volume rose 8% to 7.37mn shares, while value fell 11% to QR292.25mn and transactions by 8% to 4,710.
The banks and financial services sector's trade volume sunk 18% to 1.83mn stocks, value by 19% to QR86.41mn and deals by 16% to 1,200.
There was 6% fall in the real estate's trade volume to 2.23mn equities and 12% in value to QR55.72mn but on 6% rise in transactions to 954.
However, the transport sector's trade volume more than doubled to 0.39mn shares and value soared 92% to QR10.37mn but on 2% fall in deals to 152.
The telecom sector witnessed doubling of its trade volume to 0.9mn stocks; whereas value tanked 22% to QR19.37mn and transactions by 82% to 152.
The industrials sector saw its trade volume expand 36% to 1.56mn equities but value fell 4% to QR92.86mn. Deals were up 8% to 1,430.
The market witnessed 21% expansion in the insurance sector's trade volume to 0.23mn shares but on 24% decline in value to QR12.02mn and 35% in transactions to 126.
The consumer goods sector's trade volume was up 9% to 0.24mn stocks while value fell 4% to QR15.5mn and deals by 30% to 203.
In the debt market, there was no trading of treasury bills and government bonds.
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