Foreign and Gulf funds’ profit booking pressure on Tuesday further weakened the Qatar Stock Exchange, which settled 58 points lower.

The industrials and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.62% lower at 9,258.04 points, although it touched a low of 9,211 points intraday.

Local retail investors’ increased net selling pressure also had its role in dampening the sentiments on the bourse, whose year-to-date losses were at 11.2%.

Market capitalisation saw about QR4bn or 0.75% decline to QR525.22bn mainly owing to mid and microcap segments.

Islamic stocks were seen declining faster than the other indices on the market, where domestic funds were seen bullish.

Trade turnover and volumes were on the decline in the market, where the realty, banking and industrials sectors together accounted for more than 83% of the total trading volume.

The Total Return Index shrank 0.62% to 17,798.28 points, All Share Index by 0.65% to 2,871.17 points and Al Rayan Islamic Index (Price) by 0.91% to 2,077.72 points.

The industrials index tanked 1.32%, real estate (0.64%), banks and financial services (0.57%), telecom (0.45%), consumer goods and services (0.34%) and transport (0.27%); while insurance was up 0.05%.

More than 73% of the traded constituents were in the red with major losers being Gulf International Services, Mesaieed Petrochemical Holding, Industries Qatar, Aamal Company, Qatar Investors Group, QNB, Qatari German Company for Medical Devices, Salam International Investment, Medicare Group and Widam Food; whereas Qatar Industrial Manufacturing, Al Khaliji, Qatar First Bank, Dlala and Qatar Oman Investment were among the gainers.

Foreign funds were net sellers to the tune of QR6.99mn compared with net buyers of QR3.38mn on June 8.

Local retail investors’ net profit booking grew noticeably to QR5.65mn against QR2mn the previous day.

The Gulf institutions were net sellers to the extent of QR1.47mn compared with net buyers of QR6.22mn on Monday.

However, domestic funds turned net buyers to the tune of QR14.07mn against net sellers of QR1.92mn on June 8.

The Gulf individuals’ net buying increased marginally to QR1.98mn compared to QR1.27mn the previous day.

Foreign individuals turned net buyers to the extent of QR1.88mn against net sellers of QR0.42mn on Monday.

The Arab individuals’ net profit booking weakened perceptibly to QR3.83mn compared to QR6.53mn on June 8.

The Arab funds had no major exposure against net sellers of QR0.02mn the previous day.

Total trade volumes fell 1% to 219.51mn shares, value by 17% to QR318.95mn and transactions by 27% to 7,686.

The transport sector reported 76% plunge in trade volume to 4.08mn equities, 77% in value to QR10.5mn and 74% in deals to 350.

The telecom sector’s trade volume plummeted 39% to 2.03mn stocks, value by 34% to QR5.72mn and transactions by 29% to 267.

There was 29% shrinkage in the industrials sector’s trade volume to 42.48mn shares, 37% in value to QR49.01mn and 35% in deals to 1,598.

However, the banks and financial services sector’s trade volume soared 42% to 51.03mn equities, while value declined 7% to QR112.8mn and transactions by 26% to 2,464.

The insurance sector saw 33% surge in trade volume to 9.79mn stocks, 17% in value to QR17.13mn and 8% in deals to 415.

The real estate sector’s trade volume expanded 11% to 89.03mn shares, value by 26% to QR96.52mn and transactions by 15% to 1,720.

The market witnessed 10% jump in the consumer goods and services sector’s trade volume to 21.08mn equities but on 29% contraction in value to QR27.27mn and 24% in deals to 872.

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

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