The foreign institutions’ net selling Monday led the Qatar Stock Exchange plunge 106 points in key index and erode QR6bn in capitalisation.
The telecom, consumer goods and transport counters witnessed higher than average selling as the 20-stock Qatar Index shed 0.91% to 11,629.55 points, but recovering from an intraday low of 11,499 points.
About 78% of the traded constituents were in the red in the market, whose year-to-date gains truncated to 0.03%.
The foreign individuals were increasingly net sellers in the main bourse, whose capitalisation saw QR5.6bn or 0.85% decline to QR651.54bn, mainly on midcaps.
The Islamic index fell faster than the other indices in the main market, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.48mn changed hands across 31 deals.
Trade turnover and volumes were on the increase in the main and venture markets.
The Arab individuals were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.
The local retail investors’ weakened net buying had its influence in the main market, which saw no trading of treasury bills.
The Total Return Index shrank 0.91%, All Share Index by 0.81% and Al Rayan Islamic Index (Price) by 0.94%.
The telecom sector index tanked 2.27%, consumer goods and services (2.07%), transport (1.41%), industrials (0.82%), real estate (0.71%) and banks and financial services (0.6%), while insurance gained 1.85%.
Major shakers in the main market included Al Khaleej Takaful, Widam Food, Estithmar Holding, Mannai Corporation, Ooredoo, Commercial Bank, QIIB, Masraf Al Rayan, Qatar Electricity and Water, Qamco, Mazaya Qatar, Ezdan and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Qatar Insurance, Qatar Islamic Insurance, Medicare Group and Qatar National Cement were among the gainers in the main market.
The foreign institutions turned net sellers to the tune of QR15.08mn against net buyers of QR0.25mn on November 27.
The foreign individuals’ net selling expanded noticeably to QR4.16mn compared to QR0.7mn the previous day.
The Arab retail investors’ net selling grew marginally to QR3.28mn against QR3.26mn on Sunday.
The Gulf individuals turned net sellers to the tune of QR0.39mn compared with net buyers of QR1.72mn on November 27.
The local retail investors’ net buying shrank perceptibly to QR10.4mn against QR12.65mn the previous day.
The Gulf institutions’ net buying eased marginally to QR0.5mn compared to QR0.55mn on Sunday.
However, the domestic funds were net buyers to the extent of QR12mn against net sellers of QR11.24mn on November 27.
The Arab institutions’ net buying rose marginally to QR0.08mn compared to QR0.04mn the previous day.
Total trade volume in the main market rose 48% to 103.56mn shares and value more than doubled to QR488.98mn on more than doubled deals to 21,292.
The venture market saw its trade volumes more than double to 0.15mn equities and value jumped 81% to QR0.94mn and transactions by 83% to 86.