Severe profit booking pressure on Sunday led Qatar Stock Exchange open the week weak with its key index plunging 229 points to settle below the 10,200 levels.

Small, mid and microcap equities witnessed faster runoff; leading the capitalisation erode more than QR11bn.

An across the board selling – particularly in the industrials, telecom and realty sectors – knocked the 20-stock Qatar Index off 2.21% to 10,142.17 points. Thus, the market’s year-to-date losses have widened to 2.75%.

Trade turnover was on the rise amid falling volumes in the market, where industrials, banking and real estate stocks together constituted about three-fourth of the total volumes.

Local retail investors and domestic institutions were increasingly net sellers in the bourse, where Islamic stocks declined faster than the conventional ones.

Gulf individual investors’ buying weakened and there was increased net selling by Gulf institutions and non-Qatari individuals in the market, where foreign institutions however turned increasingly bullish.

Market capitalisation eroded 2% to QR547.53bn as small, mid, micro and large cap equities melted 2.99%, 2.77%, 2.7% and 1.58% respectively.

The Total Return Index shed 2.21% to 16,409.35 points, All Share Index by 2.09% to 2,800.08 points and Al Rayan Islamic Index by 3.04% to 3,741.52 points.

Industrials saw their equities plummet 3.6%, telecom (2.68%), realty (2.2%), consumer goods (1.89%), transport (1.8%), banks and financial services (1.62%) and insurance (0.18%).

About 88% of the traded stocks were in the red with major losers being Industries Qatar, QNB, Ooredoo, Mazaya Qatar, Ezdan, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Nakilat, Qatari Investors Group, Medicare Group, Qatar Islamic Bank, Doha bank, Masraf Al Rayan, al khaliji, Alijarah Holding, Dlala and Doha Insurance; even as Qatar Insurance and Qatar Islamic Insurance notably saw their stocks make gains.

Domestic institutions’ net selling strengthened considerably to QR104.4mn against QR41.96mn last Thursday.

Local retail investors’ net profit booking increased to QR15.03mn compared to QR2.22mn on October 27.

The GCC (Gulf Cooperation Council) institutions’ net selling rose to QR9.05mn against QR7.85mn the previous trading day.

The GCC individual investors’ net buying weakened to QR1.82mn compared to QR3.74mn last Thursday.

However, non-Qatari institutions’ net buying soared perceptibly to QR127.94mn against QR56.47mn on October 27.

Non-Qatari individual investors’ net profit booking weakened to QR1.31mn compared to QR8.18mn the previous trading day.

Total trade volume fell 2% to 7.94mn shares, while value gained 36% to QR313.04mn; even as deals were down 3% to 3,212.

There was 45% plunge in the telecom sector’s trade volume to 0.96mn equities, 35% in value to QR14.58mn and 9% in transactions to 349.

The industrials sector’s trade volume was down 2% to 3.43mn stocks; while value rose 58% to QR186.51mn and deals by 23% to 1,039.

However, the insurance sector’s trade volume more than tripled to 0.16mn shares, value gained 63% to QR5.49mn and transactions by 17% to 70.

The transport sector’s trade volume doubled to 0.34mn equities, value soared 61% to QR10.6mn and deals by 38% to 185.

The market witnessed 97% surge in the consumer goods sector’s trade volume to 0.57mn stocks, 43% in value to QR32.02mn and 4% in transactions to 561.

The real estate sector’s trade volume expanded 16% to 1.04mn shares and value by 3% to QR18.17mn; whereas deals shrank 32% to 419.

Although the banks and financial services sector’s trade volume was flat at 1.45mn equities, there was 13% increase in value to QR45.66mn but on 21% decline in transactions to 589.

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