Reflecting the Middle East tensions, the Qatar Stock Exchange yesterday saw Gulf funds increasingly square off their position, which led to more than 23 points decline in key index.

The industrials and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.23% to 10,130.75 points, although it touched an intraday high of 10,164 points.

The Arab individual investors were increasingly net profit takers in the main market, whose year-to-date losses widened to 6.46%.

As much as 60% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.17bn or 0.2% to QR585.81bn on the back of small cap segments.

The foreign retail investors were increasingly bearish in the main market, which saw no trading of exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank).

The foreign institutions’ weakened net buying had its influence in the main bourse, which saw no trading of treasury bills.

The Gulf retail investors were increasingly into net profit booking in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover fell amidst higher volumes.

The Total Return Index fell 0.23%, the All Islamic Index by 0.46% and the All Share Index by 0.17% in the main market.

The industrials sector index tanked 1.26%, real estate (0.37%) and insurance (0.06%); while telecom gained 0.37%, transport (0.29%), banks and financial services (0.17%) and consumer goods and services (0.02%).

Major losers in the main market included Qatar Industrial Manufacturing, Industries Qatar, Al Khaleej Takaful, Al Faleh Educational Holding, Baladna, Qatar German Medical Devices, Qatar Electricity and Water, Qamco and Ezdan.

Nevertheless, QIIB, Doha Bank, Milaha, QNB and Inma Holding were among the movers in the main bourse.

In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.

The Gulf institutions’ net profit booking increased noticeably to QR14.09mn compared to QR5.36mn on July 31.

The Arab individual investors’ net selling expanded significantly to QR9.64mn against QR0.36mn the previous day.

The foreign individuals’ net profit booking strengthened markedly to QR3.77mn compared to QR0.56mn on Wednesday.

The Gulf individual investors’ net selling grew perceptibly to QR3.04mn against QR1.04mn on July 31.

The foreign funds’ net buying decreased substantially to QR22.78mn compared to QR35.47mn the previous day.

However, the Qatari individuals turned net buyers to the tune of QR7.19mn against net sellers of QR27.7mn on Wednesday.

The domestic institutions were net buyers to the extent of QR0.56mn compared with net sellers of QR0.45mn on July 31.

The Arab funds had no major net exposure for the third straight session.

Trade volumes in the main market rose 2% to 116.82mn shares, while value fell 28% to QR291.39mn and transactions by 10% to 11,766.

The venture market saw a 57% contraction in trade volumes to 0.3mn equities, 57% in value to QR0.61mn and 54% in deals to 38.