Reflecting the global concerns on weak oil prices and the US’ stand on inflation, the Qatar Stock Exchange saw its key index plummet 178 points and capitalisation erode QR10bn.
An across the board selling, especially in the telecom and industrials counters, led the 20-stock Qatar Index tank 1.42% to 12,407.79 points, although it touched an intraday high of 12,569 points.
The Gulf institutions were seen increasingly into net profit booking in the market, whose year-to-date gains further truncated to 6.73%.
The domestic funds’ increased net selling pressure had its influence in the main bourse, whose capitalisation saw QR9.72bn or 1.39% decrease to QR691.32bn, mainly on the back of large and midcap segments.
The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.29mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.04mn changed hands across 27 deals.
Trade turnover volumes were on the decline in the main market; while the venture market saw increased turnover and volumes.
The foreign institutions were seen bearish in the bourse, which saw no trading of sovereign bonds.
The Gulf retail investors were seen net sellers in the main market, which saw no trading of treasury bills.
The Total Return Index knocked off 1.42%, the All Share Index by 1.32% and the Al Rayan Islamic Index (Price) by 1.18%.
The telecom sector index tanked 1.87%, industrials (1.85%), banks and financial services (1.3%), consumer goods and services (1.09%), insurance (0.73%), real estate (0.7%) and transport (0.43%).
About 76% of the traded constituents were in the red in the main market and included Al Khaleej Takaful, Qatar Electricity and Water, Ooredoo, Qatari Investors Group, Mesaieed Petrochemical Holding, QNB, Commercial Bank, QIIB, Woqod, Industries Qatar, Ezdan, Mazaya Qatar, Salam International Investment, Mazaya Qatar, Barwa and Nakilat.
Nevertheless, Qatar General Insurance and Reinsurance, Mannai Corporation, Al Meera, Inma Holding and Aamal Company were among the gainers in the main market.
In the venture market, Mekdam Holding saw its shares appreciate in value.
The Gulf institutions’ net profit booking increased markedly to QR7.31mn compared to QR3.67mn on November 14.
The domestic institutions’ net selling grew noticeably to QR4.02mn against QR0.26mn the previous day.
The foreign funds turned net sellers to the tune of QR0.54mn compared with net buyers of QR12.49mn on Monday.
The Gulf individuals were net sellers to the extent of QR0.42mn against net buyers of QR0.65mn on November 14.
However, the local retail investors’ net buying strengthened markedly to QR7.4mn compared to QR1.9mn the previous day.
The foreign individuals turned net buyers to the tune of QR2.55mn against net sellers of QR12.21mn on Monday.
The Arab retail investors’ net buying expanded perceptibly to QR2.34mn compared to QR0.95mn on November 14.
The Arab institutions had no major net exposure against net buyers to the extent of QR0.15mn the previous day.
Total trade volume in the main market plunged 27% to 77.79mn shares, value by 30% to QR293.62mn and deals by 27% to 11,677.
The venture market saw a 14% jump in trade volumes to 0.08mn equities, 9% in value to QR0.61mn and 27% in transactions to 55.