Net selling pressure from the Gulf and domestic funds Monday dragged the Qatar Stock Exchange, whose key index lost 82 points and capitalisation eroded QR4bn.
The insurance, banking and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.71% to 11,367.54 points, although it touched an intraday high of 11,447 points.
About 79% of the traded constituents were in the red in the main market, whose year-to-date losses widened further to 2.22%.
However, local retail investors were increasingly net buyers in the main bourse, whose capitalisation nevertheless saw QR4.17bn or 0.65% decline to QR639.03bn, mainly on mid and small cap segments.
The foreign institutions were seen bullish in the main bourse, which saw a total of 0.42mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.17mn changed hands across 25 deals.
The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline in the main market; while both turnover and volumes were seen expanding in the venture market.
The Total Return Index shed 0.71%, the All Share Index by 0.69% and the Al Rayan Islamic Index (Price) by 0.32%.
The insurance sector index tanked 1.59%, banks and financial services (1.12%), transport (1.03%), telecom (0.55%) and real estate (0.42%); while consumer goods and services gained 0.35% and industrials (0.22%).
Major shakers in the main market included Qatar General Insurance and Reinsurance, Mannai Corporation, Mazaya Qatar, Dlala, Qatari Investors Group, Commercial Bank, Alijarah Holding, Qatar Insurance, Ezdan and Nakilat.
In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Woqod, Al Khaleej Takaful and QIIB were among the gainers in the main market.
The Gulf institutions were net sellers to the tune of QR23.79mn compared with net buyers of QR0.59mn on December 11.
The domestic funds turned net sellers to the extent of QR14.76mn against net buyers of QR39.63mn the previous day.
However, the local retail investors’ net buying increased noticeably to QR24.1mn compared to QR13.62mn on Sunday.
The foreign institutions were net buyers to the tune of QR14.22mn against net sellers of QR47.97mn on December 11.
The Arab retail investors turned net buyers to the extent of QR1.42mn compared with net sellers of QR2.25mn the previous day.
The foreign individuals’ net profit booking weakened perceptibly to QR0.4mn against QR2.19mn on Sunday.
The Gulf individuals’ net selling decreased noticeably to QR0.8mn compared to QR1.43mn on December 11.
The Arab institutions had no major net exposure for the second straight session.
Total trade volume in the main market rose 14% to 107.76mn shares and value by 53% to QR440.28mn on more-than-doubled deals to 17,042.
The venture market saw a 13% decline in trade volumes to 0.14mn equities and 13% in value to QR1.03mn but on an 8% jump in transactions to 85.
