The Qatar Stock Exchange Wednesday lost as much as 117 points and its key index retreated below 12,300 levels and capitalisation eroded QR6bn, reflecting the global apprehensions over the escalating Russia-Ukraine crisis.
An across the board selling – particularly at the telecom, banking and insurance counters – dragged the 20-stock Qatar Index 0.94% to 12,290.8 points but recovered from an intraday low of 12,219 points.
The Gulf institutions were increasingly into net profit booking in the market, whose year-to-date gains further truncated to 5.72%.
The foreign funds were also increasingly bearish in the main bourse, whose capitalisation saw QR6.24bn or 0.9% erosion to QR685.08bn, mainly on the back of midcap segments.
The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.3mn changed hands across 23 deals.
Trade turnover and volumes were on the increase in both the main and venture markets.
The Arab individuals were seen bearish in the bourse, which saw no trading of sovereign bonds.
However, the local retail investors were seen net buyers in the main market, which saw no trading of treasury bills.
The Total Return Index knocked off 0.94%, the All Share Index by 0.91% and the Al Rayan Islamic Index (Price) by 0.78%.
The telecom sector index tanked 1.45%, banks and financial services (1.22%), insurance (1.01%), transport (0.81%), consumer goods and services (0.51%), industrials (0.33%) and real estate (0.06%).
More than 76% of the traded constituents were in the red in the main market and included Mannai Corporation, Medicare Group, Baladna, Qatari German Medical Devices, Aamal Company, QNB, Qatar Islamic Bank and Commercial Bank. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Doha Bank, Zad Holding, Qatar Industrial Manufacturing, United Development Company and Mesaieed Petrochemical Holding saw their shares appreciate in value.
The Gulf institutions’ net profit booking increased markedly to QR16.86mn compared to QR7.31mn on November 15.
The foreign institutions’ net selling expanded considerably to QR5.18mn against QR0.54mn the previous day.
The Arab retail investors turned net sellers to the tune of QR3.63mn compared with net buyers of QR2.34mn on Tuesday.
However, the local retail investors’ net buying strengthened noticeably to QR12.9mn against QR7.4mn on November 15.
The domestic institutions were net buyers to the extent of QR7.18mn compared with net sellers of QR4.02mn the previous day.
The foreign individual investors’ net buying grew significantly to QR4.12mn against QR2.55mn on Tuesday.
The Gulf individuals turned net buyers to the tune of QR1.33mn compared with net sellers of QR0.42mn on November 15.
The Arab institutions were net buyers to the extent of QR0.15mn against no major net exposure the previous day.
Total trade volume in the main market soared 35% to 105.22mn shares, value by 50% to QR440.17mn and deals by 29% to 15,116.
The venture market’s trade volumes doubled to 0.16mn equities and value more than doubled to QR1.25mn on 45% jump in transactions to 80.
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