Domestic institutions’ selling pressure drags QSE below 10,200 points; M-cap erodes QR3bn

The Qatar Stock Exchange Monday lost another 58 points and its key index settled below 10,200 levels, mainly on the back of profit booking from domestic funds.
The transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.57% to 10,150.63 points.
More than 53% of the traded constituents were in the red in the main market, which had touched an intraday high of 10,223 points.
The foreign institutions were increasingly bearish in the main bourse, whose year-to-date losses widened to 4.97%.
The foreign individual investors were seen net sellers in the main bourse, whose capitalisation eroded QR2.77bn or 0.46% to QR601.12bn, mainly on account of small cap segments.
The Gulf institutions’ weakened net buying had its influence in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn changed hands across four deals.
However, the local retail investors turned net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the main index in the main market, which saw no trading of treasury bills.
The Total Return Index shed 0.57%, All Share Index by 0.45% and Al Rayan Islamic Index (Price) by 0.19% in the main bourse, whose trade turnover and volumes were on the decline.
The transport sector index shed 0.84%, banks and financial services (0.68%), consumer goods and services (0.38%), industrials (0.31%) and telecom (0.07%); while insurance and real estate gained 1.39% and 0.37% respectively.
Major losers in the main market included Qatari German Medical Devices, Widam Food, Nakilat, Medicare Group, Commercial Bank, Inma Holding, Mesaieed Petrochemical Holding, Qamco, QLM and Gulf Warehousing. In the venture market, Mahhar Holding saw its shares depreciate in value.
Nevertheless, Estithmar Holding, Qatar Insurance, United Development Company, Lesha Bank and Mannai Corporation were among the gainers in the main market.
The domestic institutions turned net sellers to the tune of QR20.72mn compared with net buyers of QR15.77mn on June 11.
The foreign institutions’ net profit booking increased perceptibly to QR13.28mn against QR11.77mn the previous day.
The foreign individuals turned net sellers to the extent of QR3.98mn compared with net buyers of QR0.12mn on Sunday.
The Gulf institutional investors’ net buying decreased markedly to QR8mn against QR9.24mn on June 11.
However, the Qatari individuals turned net buyers to the tune of QR27.95mn compared with net sellers of QR6.59mn the previous day.
The Arab retail investors were net buyers to the extent of QR1.1mn against net sellers of QR6.4mn on Sunday.
The Gulf individual investors turned net buyers to the tune of QR0.92mn compared with net sellers of QR0.38mn on June 11.
The Arab institutions had no major next exposure for the third straight session.
The main market saw an 85% surge in trade volumes to 182.34mn shares, 80% in value to QR483mn and 97% in deals to 17,919.
The volumes in the venture market shrank 34% to 0.23mn equities, value by 35% to QR0.53mn and transactions by 42% to 43.