By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange fell for the third straight session and its key index lost 39 points to settle a tad above the 11,600 mark mainly on foreign institutions’ selloff.

Banks and realty counters witnessed the maximum selling pressure as the 20-stock Qatar Index shed 0.34% to 11,604.59 points amid higher overall trade volumes.

However, local and non-Qatari retail investors as well as Gulf institutions turned bullish in the market, which is down 5.54% year-to-date.

The index that tracks Shariah-principled stocks was seen falling slower than the other indices in the bourse, where trading was largely skewed towards the real estate, industrials and telecom sectors, which together constituted about 67% of the volume.

Market capitalisation fell 0.23% or more than QR1bn to QR608.04bn mainly on 0.52% decline in large cap equities; even as micro and small caps gained 0.34% and 0.19% respectively.

The Total Return Index shrank 0.34% to 18,037.66 points, All Share Index by 0.23% to 3,087.42 points and Al Rayan Islamic Index by 0.06% to 4,419.04 points.

Banks and financial services stocks lost 0.92%, realty (0.72%) and insurance (0.05%); while telecom gained 1.18%, consumer goods (0.76%), industrials (0.66%) and transport (0.36%).

Major losers included QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, Ezdan, Barwa and Vodafone Qatar but Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Ooredoo, Nakilat, Mazaya Qatar, United Development Company and Dlala bucked the trend.

Non-Qatari institutions turned net sellers to the tune of QR43.71mn against net buyers of QR18.69mn on October 28.

Domestic institutions turned were also net sellers to the extent of QR0.74mn compared with net buyers of QR12.36mn on Wednesday.

However, local retail investors turned net buyers to the tune of QR28.6mn against net sellers of QR4.34mn the previous day.

The GCC (Gulf Cooperation Council) institutions were also net buyers to the extent of QR6.42mn compared with net sellers of QR20.73mn on October 28.

Non-Qatari individual investors turned buyers to the tune of QR5.38mn against net profit takers of QR5.04mn on Wednesday.

The GCC individual investors’ net buying strengthened to QR4.02mn compared to QR2.11mn the previous day.

Total trade volume rose 18% to 6.42mn shares, value by 37% to QR282.9mn (excluding rights to subscribe in the rights issue) and deals by 28% to 4,138.

The market witnessed 90% urge in the industrials sector’s trade volume to 1.27mn equities and more than doubled value to QR84.5mn on 58% jump in transactions to 920.

The real estate sector’s trade volume soared 63% to 1.84mn stocks, value by 71% to QR52.32mn and deals by 14% to 617.

The telecom sector saw 22% expansion in trade volume to 1.18mn shares and more than doubled value to QR40.78mn on 76% expansion in transactions to 718.

However, the transport sector’s trade volume plummeted 30% to 0.5mn equities and value by 45% to QR17.26mn, while deals rose 15% to 589.

There was 28% plunge in the consumer goods sector’s trade volume to 0.67mn stocks but on 24% gain in value to QR32.33mn. Transactions were down 8% to 405.

The insurance sector’s trade volume tanked 13% to 0.07mn shares and value by 33% to QR4.85mn, while deals almost doubled to 117.

The banks and financial services sector reported 7% decline in trade volume to 0.9mn equities and 11% in value to QR50.86mn but on 13% increase in transactions to 772.

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