An across the board selling, particularly in the insurance, real estate and industrials counters, led the 20-stock Qatar Index knock off 2.27% to 9,499.43 points.
"On the negative side, only below the strong support line at 9,585 points could shift the tone to a deeper bearish move and lead to 9,000 points," a Kamco Invest technical analysis note had said.
The foreign institutions were increasingly net profit takers in the main market, whose year-to-date losses widened to 11.06%, ahead of the US economic data.
The domestic institutions’ weakened net buying had its influence in the main bourse, whose capitalisation eroded 1.94% to QR562.3bn with large and midcap segments losing the most.
About 88% of the traded constituents were in the red in the main market, whose index however regained from an intraday low of 9,439 points.
The Islamic index was seen declining faster than the other indices in the main bourse, which saw as many as 9,521 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn trade across eight deals.
The Gulf individual investors’ marginally increased net selling was visible in the main market, which saw no trading of sovereign bonds.
However, the local retail investors turned bullish in the main bourse, which saw no trading of treasury bills.
The Total Return Index tanked 2.27%, All Share Index by 2.06% and Al Rayan Islamic Index (Price) by 2.76% in the main bourse, whose trade turnover and volumes were on the increase.
The insurance sector index plummeted 3.44%, realty (2.57%), industrials (2.52%), telecom (2.14%), consumer goods and services (1.88%), banks and financial services (1.69%) and transport (1.63%).
Major losers in the main market included Qatar Islamic Bank, Mesaieed Petrochemical Holding, Qatar Insurance, Industries Qatar, Ooredoo, Commercial Bank, Qatari German Medical Devices, Gulf International Services, Baladna, Qatar Industrial Manufacturing, Qamco, Ezdan, Mazaya Qatar, Gulf Warehousing and Mannai Corporation. In the venture market, Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value.
Nevertheless, Lesha Bank, Doha Insurance and Zad holding were the three gainers in the main bourse.
The foreign institutions’ net selling increased noticeably to QR20.98mn compared to QR12.29mn on October 23.
The Gulf individual investors’ net profit booking grew marginally to QR1.35mn against QR1.34mn the previous day.
The domestic institutions’ net buying weakened considerably to QR3.74mn compared to QR11.29mn on Monday.
The Gulf institutions’ net buying weakened perceptibly to QR5.08mn against QR5.27mn on October 23.
However, the local retail investors were net buyers to the tune of QR8.51mn compared with net sellers of QR2.27mn the previous day.
The Arab individuals’ net buying strengthened markedly to QR4.68mn against QR0.63mn on Monday.
The foreign individuals turned net buyers to the extent of QR0.34mn compared with net sellers of QR1.24mn on October 23.
The Arab institutions had no major net exposure against net profit takers to the tune of QR0.05mn the previous day.
Trade volumes in the main market shot up 21% to 181.88mn shares, value by 19% to QR444.94mn and deals by 12% to 17,814.
The venture market saw a 73% surge in trade volumes to 0.83mn equities, 70% in value to QR1.07mn and 38% in transactions to 73.
