By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange lost 72 points on increased net selling pressure from foreign institutions and the bearish outlook of the Gulf Cooperation Council (GCC) individuals and institutions.

Telecom, transport and real estate equities witnessed higher than average profit booking to drag the 20-stock Qatar Index 0.59% to 12,123.22 despite higher trade volumes.

The index that tracks Shariah-principled stocks was seen losing faster than the other indices in the bourse, which is down 1.32% year-to-date.

However, local retail investors turned bullish in the market, where trading was skewed towards realty, consumer goods and banking stocks, which together accounted for about three-fourth of the overall volume.

Market capitalisation eroded 0.45% or about QR3bn to QR653.05bn with mid, large and small cap equities melting 0.7%, 0.54% and 0.29% respectively; even as micro caps gained 1.09%.

The Total Return Index fell 0.59% to 18,840.12 points, All Share Index by 0.48% to 3,246.04 points and Al Rayan Islamic Index by 0.7% to 4,635.35 points.

Telecom stocks snapped 1.66%, transport (1.3%), real estate (0.66%), banks and financial services (0.49%) and industrials (0.26%); whereas insurance gained 0.37% and consumer goods (0.32%).

More than 68% of the stocks were in the red with major losers being QNB, Industries Qatar, Ooredoo, Gulf Warehousing, Barwa, Mazaya Qatar, Masraf Al Rayan, Doha Bank, Gulf International Services, Milaha and Nakilat.

However, Aamal Company, Alijarah Holding, Salam International Investment, Widam Food, Zad Holding and Qatari German Company for Medical Devices bucked the trend.

Non-Qatari institutions’ net profit booking strengthened to QR40.2mn against QR4.46mn the previous day.

The GCC individual investors turned net sellers to the tune of QR11.38mn compared with net buyers of QR1.41mn on May 3.

The GCC institutions were also net sellers to the tune of QR1.64mn against net buyers of QR3.36mn on Sunday.

Domestic institutions’ net buying weakened to QR18.75mn compared to QR25.38mn the previous day.

However, local retail investors turned net buyers to the extent of QR30.76mn against net sellers of QR20.58mn on May 3.

Non-Qatari individual investors also turned net buyers to the tune of QR3.72mn compared with net profit takers of QR5.05mn on Sunday.

Total trade volume rose 17% to 8.29mn shares, value by 47% to QR375.92mn and transactions by 13% to 4,886.

The insurance sector’s trade volume more than doubled to 0.1mn equities and value almost tripled to QR6.41mn on 92% jump in deals to 96.

There was 82% surge in the consumer goods sector’s trade volume to 1.91mn stocks, 60% in value to QR57.09mn and 34% in transactions to 1,045.

The transport sector’s trade volume soared 21% to 0.69mn shares, value by 99% to QR43.9mn and deals by 62% to 507.

The market witnessed 12% expansion in the telecom sector’s trade volume to 0.67mn equities, 5% in value to QR12.9mn and 20% in transactions to 309.

The industrials sector’s trade volume shot up 12% to 0.64mn stocks and value by 25% to QR57.9mn but on 7% fall in deals to 728.

The real estate sector’s trade volume was up 5% to 2.56mn shares and value by 4% to QR80.35mn whereas transactions were down 6% to 989.

However, the banks and financial services sector reported 5% fall in trade volume to 1.72mn equities but there was 88% rise in value to QR113.36mn and 12% in deals to 1,212.

In the debt market, there was no trading of treasury bills and government bonds.

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