The Qatar Stock Exchange (QSE) yesterday continued to be under bearish spell for the second straight session as its key index lost more than 17 points and capitalisation melted in excess of QR1bn, even as the market was skewed towards movers.

The banks and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.16% to 11,107.45 points, recovering from an intraday low of 11,072 points.

The foreign and Gulf institutions were increasingly net profit takers in the main market, whose year-to-date gains truncated to 5.07%.

The Arab individuals turned bearish in the main bourse, whose capitalisation melted QR1.17bn or 0.18% to QR663.35bn, mainly on small and microcap segments.

The foreign retail investors were seen net sellers in the main market, which saw as many as 6,793 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across three deals.

The local individuals’ weakened net buying had its influence on the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen gaining vis-à-vis decline in the other indices of the main market, which saw no trading of treasury bills.

The Gulf retail investors’ lower net buying had its impact on the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shrank 0.16% and the All Share Index by 0.26%, while the All Islamic Index was up 0.09% in the main market.

The banks and financial services sector index declined 0.83% and real estate 0.2%; whereas telecom gained 1%, consumer goods and services (0.6%), industrials (0.54%), insurance (0.16%) and transport (0.11%).

Major shakers in the main market include Meeza, Qatar Islamic Bank, QNB, QIIB, Dukhan Bank and Gulf International Services.

In the junior bourse, Techno Q saw its shares depreciate in value.

Nevertheless, about 59% of the traded constituents extended gains with major movers being QLM, Estithmar Holding, Al Faleh Educational Holding, Ooredoo, Commercial Bank, Woqod, Al Mahhar Holding, Industries Qatar, Qamco, Mazaya Qatar and Vodafone Qatar.

The foreign institutions’ net selling expanded perceptibly to QR6.14mn compared to QR5.31mn the previous day.

The Gulf institutions’ net profit booking increased noticeably to QR3.78mn against QR1.18mn on Monday.

The Arab retail investors turned net sellers to the tune of QR3.69mn compared with net buyers of QR4.61mn on September 8.

The foreign individuals were net sellers to the extent of QR2.51mn against net buyers of QR3.67mn the previous day.

The local retail investors’ net buying decreased perceptibly to QR15.44mn compared to QR18.01mn on Monday.

The Gulf individual investors’ net buying weakened markedly to QR0.05mn against QR2.63mn on September 8.

However, the domestic funds turned net buyers to the tune of QR0.64mn compared with net sellers of QR22.44mn the previous day.

The Arab institutions had no major net exposure for the seventh straight session.

The main market saw a 26% surge in trade volumes to 123.06mn shares, 30% in value to QR391.77mn and 8% in deals to 25,081.

In the venture market, a total of 0.94mn equities valued at QR2.47mn changed hands across 132 transactions.