The Qatar Stock Exchange on Monday lost sizeable 165 points to settle below 10,300 levels, mainly on strong profit booking from foreign funds.

The consumer goods, real estate, insurance, industrials and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index tanked 1.58% to 10,296.92 points.

The Gulf institutions’ selling pressure also dampened the market, whose sensitive index is down 0.02% year-to-date.

Market capitalisation shrank more than QR10bn, or 1.74%, to QR575.83bn mainly owing to large and midcap segments.

Islamic equities were seen declining slower than the other indices in the market, domestic funds turned bullish and local retail investors were increasingly net buyers.

Trade turnover grew amidst lower volumes in the bourse, where the industrials and banking sectors together accounted for more than 65% of the total volume.

The Total Return Index shed 1.58% to 18,946.6 points, the All Share Index by 1.67% to 3,124.24 points and the Al Rayan Islamic Index (Price) by 1.28% to 2,341.12 points.

The consumer goods sector index tanked 2.58%, realty (2.11%), insurance (2.08%), industrials (1.75%), banks and financial services (1.72%) and transport (0.01%); whereas telecom was up 0.05%.

More than 74% of the traded stocks were in the red with major losers being Industries Qatar, QNB, Qatar Insurance, Ezdan, Commercial Bank, Doha Bank, Qatar Islamic Bank, Qatar First Bank, Dlala, Qatar Electricity and Water, Mazaya Qatar, Gulf Warehousing and Barwa; even as Milaha, Ooredoo and Qatar National Cement were among the prime gainers.

Non-Qatari institutions were net sellers to the tune of QR21.92mn against net buyers of QR12.1mn the previous day.

The Gulf institutions also turned net sellers to the extent of QR6.14mn compared with net buyers of QR4.24mn on May 5.

The Gulf individuals were net profit takers to the tune of QR0.27mn against net buyers of QR1.53mn on Sunday.

However, domestic funds turned net buyers to the extent of QR11.99mn compared with net sellers of QR22.32mn the previous day.

Local retail investors’ net buying increased noticeably to QR10.25mn against QR3.05mn on May 5.

Non-Qatari individuals’ net buying also strengthened perceptibly to QR6.07mn compared to QR1.43mn on Sunday.

Total trade volume fell 19% to 8.7mn shares, while value rose 14% to QR245.7mn despite 4% lower transactions at to 4,471.

The market witnessed a 55% plunge in the consumer goods sector’s trade volume to 0.32mn equities, 9% in value to QR42.47mn and 39% in deals to 355.

The industrials sector’s trade volume plummeted 43% to 3.44mn stocks, value by 30% to QR66.98mn and transactions by 25% to 1,733.

The transport sector reported a 32% shrinkage in trade volume to 0.21mn shares, 41% in value to QR5.48mn and 15% in deals to 211.

The telecom sector’s trade volume was down 6% to 0.75mn equities, while value increased 27% to QR10.25mn and transactions by 20% to 247.

However, the realty sector saw an 84% surge in trade volume to 1.56mn stocks to more than double value to QR23.27mn on a 65% growth in deals to 747.

The banks and financial services sector’s trade volume soared 19% to 2.23mn shares and value more than doubled to QR90.09mn on a 44% jump in transactions to 1,051.

There was an 84% expansion in the insurance sector’s trade volume to 0.2mn equities and 50% in value to QR7.18mn but on flat deals at 127.

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

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