Reflecting the sentiments in the global markets over the US economic data and the expectations on the future path of the Federal Reserve rates, the Qatar Stock Exchange yesterday saw its key index plunge 155 points and market capitalisation erode QR9bn.
The telecom, real estate and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index lost 1.5% to 10,194.74 points.
The foreign institutions were increasingly into net profit booking in the main market, whose year-to-date losses widened further to 4.55%.
About 79% of the traded constituents were in the red in the main bourse, whose capitalisation eroded QR9.4bn or 1.54% to QR602.12bn with large and midcap cap segments losing the most.
However, the domestic funds were increasingly net buyers in the main market, which had touched an intraday high of 10,426 points.
The local retail investors were seen increasingly bullish in the main bourse, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.18mn changed hands across 16 deals.
The Arab individuals turned net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index shed 1.5%, the All Share Index by 1.5% and the Al Rayan Islamic Index (Price) by 1.41% in the main bourse, whose trade turnover and volumes were on the increase.
The telecom sector index tanked 2.33%, realty (2.11%), banks and financial services (1.89%), industrials (1.18%), consumer goods and services (0.75%), insurance (0.52%) and transport (0.1%).
Major shakers in the main market included Qatar National Cement, Ooredoo, Ezdan, Qatar Islamic Bank, Lesha Bank, Commercial Bank, Dlala, Qatari Investors Group, Mesaieed Petrochemical Holding, QLM, United Development Company, Barwa, Mazaya Qatar and Gulf Warehousing. In the venture market, Mahhar Holding saw its shares depreciate in value.
Nevertheless, Qatar Islamic Insurance, Doha Insurance, Aamal Company, Vodafone Qatar, Zad Holding and Doha Bank were among the gainers in the main market.
The foreign institutions’ net selling increased drastically to QR189.01mn compared to QR64.18mn on August 30.
However, the domestic funds’ net buying strengthened substantially to QR79.05mn against QR25.74mn the previous day.
The local retail individuals’ net buying expanded significantly to QR64.69mn compared to QR23.19mn on Wednesday.
The Arab retail investors were net buyers to the tune of QR19.08mn against net sellers of QR1.18mn on August 30.
The Gulf institutions’ net buying shot up perceptibly to QR15.69mn compared to QR14.5mn the previous day.
The foreign individual investors’ net buying zoomed considerably to QR8.72mn against QR1.38mn on Wednesday.
The Gulf retail investors’ net buying grew noticeably to QR1.78mn compared to QR0.54mn on August 30.
The Arab institutions continued to have no major net exposure for the second straight session.
Trade volumes in the main market were up 14% to 287.19mn shares, value by 91% to QR1.04bn and deals by 15% to 22,383.
The venture market saw a 73% plunge in trade volumes to 0.17mn equities, 74% in value to QR0.36mn and 75% in transactions to 36.