Stronger selling, especially in the real estate and industrials stocks, dragged the Qatar Stock Exchange 96 points to settle below the 10,100 mark.

The Gulf institutions’ increased net profit booking led the 20-stock Qatar Index shrink 0.94% to 10,092.07 points, which is down 3.23% year-to-date.

Investors hurriedly offloaded large and midcap equities in the bourse, where trading turnover and volumes were on the rise.

However, there was increased buying support from domestic institutions and lower selling from their foreign counterparts in the market, where banking and realty stocks together constitute more than 66% of the total trading volume.

The index that tracks Shariah-principled stocks was seen declining slower than the other indices in the market.

Market capitalisation eroded 0.88% or about QR5bn to QR544.4bn with large, mid and small cap equities declining 0.91%, 0.22% and 0.1% respectively; whereas microcaps gained 0.29%.

The Total Return Index shed 0.94% to 16,328.3 points, All Share Index by 0.84% to 2,818.24 points and Al Rayan Islamic Index by 0.81% to 3,950.63 points.

Real estate equities shrank 2.05%, industrials (1.3%), banks and financial services (0.62%) and transport (0.18%); whereas telecom gained 0.56%, insurance (0.16%) and consumer goods (0.07%).

About 67% of the stocks were in the red with major losers being QNB, Industries Qatar, Ezdan, Mazaya Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Commercial Bank, Doha Bank, Islamic Holding Group and Qatari Investors Group; even as Ooredoo, Qatar Islamic Bank and Dlala bucked the trend.

The GCC (Gulf Cooperation Council) institutions’ net selling increased to QR11.11mn against QR3.82mn on May 1.

However, domestic institutions net buying rose to QR15.35mn compared to QR13.45mn the previous day.

Non-Qatari individual investors’ net buying strengthened to QR1.88mn against QR1.09mn on Sunday.

Non-Qatari institutions’ net profit booking declined to QR1.64mn compared to QR3.69mn on May 1.

Local retail investors’ net selling also shrank to QR3.09mn against QR5.56mn the previous day.

The GCC individual investors’ net profit booking fell to QR1.4mn compared to QR1.48mn on Sunday.

Total trade volume rose 17% to 9.34mn shares, value by 45% to QR268.41mn and deals by 17% to 4,599.

The real estate sector’s trade volume more than doubled to 2.24mn equities and value also more than doubled to Q42.02mn on 33% jump in transactions to 705.

The telecom sector’s trade volume more than doubled to 0.62mn stocks and value more than tripled to QR17.57mn on 47% rise in deals to 389.

There was 33% surge in the insurance sector’s trade volume to 0.08mn shares, 37% in value to QR5.85mn and 9% in transactions to 93.

The consumer goods sector’s trade volume soared 30% to 0.57mn equities and value more than doubled to QR30.2mn on 38% expansion in deals to 459.

The banks and financial services sector saw 9% increase in trade volume to 3.96mn stocks, 45% in value to QR103.18mn and 24% in deals to 1,873.

However, the industrials sector’s trade volume plunged 34% to 1.38mn shares but value shrank was up 4% to QR55.52mn. Deals were down 8% to 871.

The transport sector reported 9% decline in trade volume to 0.49mn equities, 38% in value to QR14.06mn and 18% in transactions to 209.

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