(MENAFN- Gulf Times) Increased selling pressure from Gulf Cooperation Council (GCC) institutions and substantially lower buying interests of domestic institutions led the Qatar Stock Exchange drop 110 points to settle below the 12,000 mark on Sunday.
Stronger profit-booking, especially at the industrials, telecom and banking counters drove the 20-stock Qatar Index down 0.91% to 11,981.98 points.
Large-cap equities bore the maximum brunt in the bourse, which is down 2.47% year to date.
The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the market, where trading was largely skewed towards realty and banking sectors, which together accounted for about 66% of the overall volume.
Market capitalisation shed 1.08%, or about, QR7bn to QR637.9bn with large, mid and micro cap equities melting 1.45%, 0.36% and 0.29% respectively.
The Total Return Index lost 0.91% to 18,620.62 points, the All Share Index by 0.83% to 3,202.72 points and the Al Rayan Islamic Index by 0.76% to 4,592.7 points.
Industrials stocks tanked 1.93%, followed by telecom (1.22%), banks and financial services (0.98%), consumer goods (0.4%) and transport (0.19%), while realty and insurance gained 0.5% and 0.25% respectively.
About 66% of the traded stocks were in the red with major losers being Industries Qatar, QNB, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Vodafone Qatar, Ooredoo, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, Alijarah Holding, Qatari German Company for Medical Devices, Barwa, United Development Company, Mazaya Qatar and Al Khaleej Takaful. Ezdan and Widam Food bucked the trend.
The GCC institutions' net profit-booking substantially strengthened to QR108.77mn against QR81.46mn last Thursday.
Domestic institutions' net buying considerably weakened to QR72.27mn compared to QR313.33mn on May 4.
However, local retail investors turned net buyers to the tune of QR31.21mn against net sellers of QR130.77mn the previous trading day.
The GCC individual investors were also net buyers to the extent of QR12.87mn compared with net sellers of QR0.87mn last Thursday.
Non-Qatari individual investors turned net buyers to the tune of QR2.97mn against net sellers of QR19.04mn on June 4.
Non-Qatari institutions' net profit-booking sunk to QR10.66mn compared to QR81.06mn the previous trading day.
Total trade volume fell 37% to 8.59mn shares, value by 37% to QR424.88mn and deals by 25% to 4,608.
The market witnessed a 75% plunge in the consumer goods sector's trade volume to 0.26mn equities, 58% in value to QR13.05mn and 32% in transactions to 293.
The real estate sector's trade volume plummeted 44% to 3.05mn stocks, value by 58% to QR70.38mn and deals by 26% to 1,005.
The banks and financial services sector reported a 31% shrinkage in trade volume to 2.6mn shares, 34% in value to QR176.51mn and 21% in transactions to 1,297.
The telecom sector's trade volume declined 31% to 1.04mn equities, value by 48% to QR22.8mn and deals by 62% to 395.
There was an 18% fall in the industrials sector's trade volume to 1.18mn stocks and 19% in value to QR111.13mn but on 2% higher transactions to 1,291.
However, the insurance sector's trade volume surged 85% to 0.24mn shares and value by 88% to QR21.98mn, while deals were down 14% to 191.
Although the transport sector's trade volume was flat at 0.23mn equities, there was a 23% dip in value to QR8.82mn and 10% in deals to 136.
In the debt market, there was no trading of treasury bills and government bonds.
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