(MENAFN- Gulf Times) Correction in real estate stocks Tuesday landed the Qatar Stock Exchange in the negative trajectory but overall its key index remained above 12,000 levels.
Profit booking pressure from domestic and Gulf Cooperation Council (GCC) institutions dragged the 20-stock Qatar Index 0.25% to 12,090.44 points as volumes also fell.
Large and mid-cap equities witnessed selling pressure in the market, which is down 1.59% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining against declines in the other indices in the bourse, where trading was largely skewed towards the realty, telecom and banking sectors, whose stocks together constituted more than 72% of the overall trading volume.
Market capitalisation fell 0.11% or QR68mn to QR640.34bn with large and mid-cap equities losing 0.21% and 0.13%; while small and micro caps gained 0.75% and 0.64% respectively.
The Total Return Index shed 0.25% to 18,789.17 points and All Share Index by 0.14% to 3,228.38 points; whereas Al Rayan Islamic Index rose 0.1% to 4,725.42 points.
Realty stocks plunged 1.41% and banks and financial services (0.11%); while telecom gained 0.57%, industrials (0.34%), consumer goods (0.25%), insurance (0.22%) and transport (0.15%).
Major losers included Ezdan, Barwa, United Development Company, QNB, Commercial bank, Doha Bank, Aamal Company and Nakilat; even as Industries Qatar, Vodafone Qatar, Ooredoo, Gulf International Services, QIIB, al khaliji, Salam International Investment and Medicare Group bucked the trend.
Domestic institutions turned net sellers to the tune of QR53.51mn compared with net buyers of QR45.96mn on Monday.
The GCC institutions were also net sellers to the extent of QR3.35mn against net buyers of QR54.48mn on June 22.
Non-Qatari institutions' net buying weakened to QR55.51mn compared to QR63.26mn the previous day.
However, the GCC retail investors turned net buyers to the tune of QR10.8mn against net sellers of QR18.72mn on Monday.
Local retail investors' net profit booking weakened considerably to QR10.29mn compared to QR145.19mn on June 22.
Non-Qatari individual investors' net buying rose to QR0.76mn against QR0.21mn the previous day.
Total trade volume fell 27% to 8.4mn shares, value by 31% to QR363.77mn and deals by 22% to 3,926.
There was 57% plunge in the insurance sector's trade volume to 0.12mn equities and 61% in value to QR10.52mn but on 35% jump in transactions to 93.
The real estate sector's trade volume plummeted 49% to 2.97mn stocks, value by 52% to QR69.06mn and deals by 50% to 954.
The industrials sector saw 33% shrinkage in trade volume to 0.78mn shares and 51% in value to QR54.79mn but on 19% rise in transactions to 881.
The banks and financial services sector's trade volume tanked 30% to 1.47mn equities, value by 46% to QR89.64mn and deals by 31% to 834.
However, the consumer goods sector's trade volume almost doubled to 1.21mn stocks and value more than doubled to QR96.59mn on 14% expansion in transactions to 461.
The market witnessed 33% surge in the transport sector's trade volume to 0.24mn shares but there was 41% decline in value to QR6.39mn and 15% in deals to 110.
The telecom sector's trade volume increased 19% to 1.62mn equities and value by 13% to QR36.77mn, while transactions were down 3% to 593.
In the debt market, there was no trading of treasury bills and government bonds.
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