An across the board selling, particularly in the industrials, led the 20-stock Qatar Index plummet 3.52% to 12,119.85 points, although it touched an intraday high of 12,486 points.
The domestic institutions were seen net profit takers in the market, whose year-to-date gains were at 4.25%.
The Gulf institutions were increasingly net sellers in the bourse, whose capitalisation saw about QR25bn or 3.53% decline to QR680.85bn, mainly on the back of large and midcap segments.
The Islamic index was seen declining slower than the main barometer in the market, where the industrials sector alone constituted about 54% of the total trading volume.
More than 93% of the traded constituents were in the red in the bourse, which saw a total of 0.2mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.52mn changed hands across 30 deals.
Nevertheless, local retail investors turned bullish in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 3.52% to 24,825.4 points, All Share Index by 3.28% to 3,887.52 points and Al Rayan Islamic Index (Price) by 3.35% to 2,661.32 points.
The industrials sector index tanked 5%, realty (3.05%), banks and financial services (2.93%), transport (2.82%), consumer goods and services (2.45%), telecom (1.93%) and insurance (1.38%).
Major losers in the main market included Qatari German Medical Devices, Gulf International Services, Qamco, Ezdan, Salam International Investment, QNB, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Baladna, Industries Qatar, Mesaieed Petrochemical Holding, Estithmar, QLM, Gulf Warehousing and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Qatar Islamic Insurance and Ahlibank Qatar were the gainers in the main market.
The domestic funds turned net sellers to the tune of QR95.26mn compared with net buyers of QR9.61mn on June 16.
The Gulf funds’ net selling increased perceptibly to QR27.17mn against QR20.72mn the previous trading day.
The Gulf individuals’ net buying eased marginally to QR1.53mn compared to QR1.61mn last Thursday.
However, Qatari individuals turned net buyers to the tune of QR57.25mn against net sellers of QR17.05mn on June 16.
The foreign funds’ net buying zoomed substantially to QR56.47mn compared to QR37.88mn the previous trading day.
The Arab individuals’ net buying strengthened marginally to QR5.91mn against QR5.49mn last Thursday.
The foreign individuals were net buyers to the extent of QR0.78mn compared with net sellers of QR17.15mn on June 16.
The Arab institutions’ net buying increased marginally to QR0.5mn against QR0.33mn the previous trading day.
Total trade volume in the main market fell 38% to 234.16mn shares, value by 72% to QR688.42mn and transactions by 51% to 13,045.
The banks and financial services sector’s trade volume plummeted 84% to 35.39mn equities, value by 87% to QR252.1mn and deals by 75% to 4,326.
The transport sector reported 74% plunge in trade volume to 3.69mn stocks, 69% in value to QR19.17mn and 63% in transactions to 410.
The telecom sector’s trade volume tanked 43% to 3.9mn shares, value by 74% to QR8.5mn and deals by 61% to 509.
There was 23% shrinkage in the insurance sector’s trade volume to 3.11mn equities, 1% in value to QR10mn and 62% in transactions to 201.
The real estate sector’s trade volume was down 3% to 34.44mn stocks and value by 40% to QR41.9mn, whereas deals shot up 27% to 1,004.
However, the market witnessed 63% surge in the industrials sector’s trade volume to 125.77mn shares, 18% in value to QR309.14mn and 24% in transactions to 5,488.
The consumer goods and services sector’s trade volume zoomed 34% to 27.86mn equities; while value shrank 56% to QR47.61mn and deals by 20% to 1,107.
The venture market saw 60.38% contraction in trade volumes to 0.21mn stocks, 64.03% in value to QR1.41mn and 74.07% in transactions to 56.