Global growth concerns over rising inflation expectations continued to have its toll on the Qatar Stock Exchange, which saw its index plummet 208 points and capitalisation erode about QR12bn.
A higher than average selling pressure, especially in the banking sector, led the 20-stock Qatar Index knock off 1.5% to 13,593.66 points, although it touched an intraday high of 13,775 points.
The foreign institutions were seen net profit takers in the market, whose year-to-date gains were at 16.93%.
The domestic funds turned bearish in the bourse, whose capitalisation tanked 1.53% to QR758.34bn, mainly on the back of large and midcap segments.
The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn changed hands across 22 deals.
More than 78% of the traded constituents were in the red in the market, which saw no trading of sovereign bonds.
However, the Arab and Gulf individuals were seen net buyers in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 1.5% to 27,844.22 points, the All Share Index by 1.57% to 4,314.49 points and the Al Rayan Islamic Index (Price) by 1.38% to 2,972.69 points.
The banks and financial services sector index declined 2.43%, real estate (1.05%), industrials (0.97%), transport (0.45%) and consumer goods and services (0.14%); while insurance and telecom gained 0.93% and 0.5% respectively.
Major losers in the main market included Estithmar Holding, Milaha, QNB, Qatar Islamic Insurance, QIIB, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Qatari German Medical Devices, Baladna, Qatar National Cement, Industries Qatar, Qamco, Qatari Investors Group, Mazaya Qatar and Gulf Warehousing.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Mannai Corporation, Qatar General Insurance and Reinsurance, Doha Insurance, Doha Bank, Nakilat and Ooredoo were among the gainers in the main market.
The foreign institutions turned net sellers to the tune of QR16.87mn against net buyers of QR66.09mn on August 22.
The domestic institutions were net sellers to the extent of QR1.79mn compared with net buyers of QR27.17mn the previous day.
However, the Arab individuals turned net buyers to the tune of QR8.23mn against net sellers of QR5.12mn on Monday.
The Gulf institutions were net buyers to the extent of QR4.67mn compared with net sellers of QR10.64mn on August 22.
The Gulf retail investors turned net buyers to the tune of QR3.3mn against net sellers of QR2.88mn the previous day.
The foreign individuals were net buyers to the extent of QR1.47mn compared with net profit takers of QR1.9mn on Monday.
Qatari individuals turned net buyers to the tune of QR1.01mn against net sellers of QR72.72mn on August 22.
The Arab funds had no major net exposure for the third consecutive day.
Total trade volume in the main market shrank 18% to 167.39mn shares, value by 22% to QR607.3mn and deals by 1% to 18,311.
In the venture market, trade volumes shot up 14% to 0.24mn equities, value by 5% to QR1.6mn and transactions by 34% to 102.