Reflecting the rising geopolitical tension, the Qatar Stock Exchange (QSE) on Wednesday plummeted 158 points and capitalisation eroding about QR11bn with the banks and real estate counters witnessing higher than average selling pressure.

The foreign institutions were seen increasingly into net profit booking as the 20-stock Qatar Index tanked 1.49% to 10,415.28 points, although it touched an intraday high of 10,619 points.

The Gulf institutions were also increasingly net sellers in the main market, whose year-to-date losses widened further to 3.83%.

More than 78% of the traded constituents were in the red in the main bourse, whose capitalisation eroded QR10.78bn or 1.73% to QR611.48bn on the back of large and midcap segments.

The Arab individuals turned bearish in the main market, which saw as many as 0.1mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.25mn trade across 19 deals.

The Islamic index was seen declining slower the other indices in the main bourse, whose trade turnover and volumes were on the increase.

The foreign retail investors’ lower net buying had its marginal influence on the main market, which saw no trading of treasury bills.

However, the domestic institutions were increasingly bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index lost 1.49%, the All Islamic Index by 1.28% and the All Share Index by 1.61% in the main market.

The banks and financial services sector index plummeted 2.49%, realty (1.62%), telecom (0.84%). transport (0.79%), industrials (0.64%) and insurance (0.62%); while consumer goods and services was up 0.01%.

Major losers in the main market included Qatar General Insurance, Ezdan, Widam Food, Salam International Investment, Qatar German Medical Devices, QNB, Qatar Islamic Bank, Commercial Bank, QIIB, Lesha Bank, Medicare Group, Mannai Corporation, Aamal Company, Al Faleh Educational Holding, Mesaieed Petrochemical Holding, Estithmar Holding, Mazaya Qatar, Ooredoo and Gulf Warehousing.

In the junior bourse, Techno Q saw its shares depreciate in value.

Nevertheless, QLM, Woqod, Qatar Islamic Insurance, Meeza and Ahlibank Qatar were among the gainers in the main bourse.

In the venture market, Al Mahhar Holding saw its shares appreciate in value.

The foreign institutions’ net selling increased substantially to QR64.33mn compared to QR11.07mn on October 22.

The Gulf institutions’ net profit booking strengthened significantly to QR18.9mn against QR5.17mn the previous day.

The Arab retail investors turned net sellers to the tune of QR5.66mn compared with net buyers of QR4.97mn on Tuesday.

The foreign individual investors’ net buying weakened marginally to QR6.63mnn against QR7.64mn on October 22.

However, the domestic institutions’ net buying expanded drastically to QR53.34mn compared to QR11.36mn the previous day.

The Qatari individuals were net buyers to the extent of QR29.01mn against net profit takers of QR5.78mn on Tuesday.

The Gulf retail investors’ net profit booking eased perceptibly to QR0.1mn compared to QR1.87mn on October 22.

The Arab institutions had no major net exposure against net sellers to the tune of QR0.07mn the previous day.

Trade volumes in the main market soared 64% to 178.69mn shares, value by 34% to QR435.18mn and transactions by 35% to 14,578.

The venture market saw 212-fold jump in volumes to 6.36mn equities and more than 189-fold in value to QR15.14mn on more than 49-fold growth in deals to 295.