Ahead of the US Federal Reserve meeting, the Qatar Stock Exchange Tuesday lost more than 183 points in key index and QR10bn in capitalisation.
Six of the seven sectors reeled under selling pressure as the 20-stock Qatar Index plummeted 1.61% to 11,184.14 points, although it touched an intraday high of 11,340 points.
The foreign funds were seen net profit takers in the main market, whose year-to-date losses widened further to 3.8%.
The banking and industrials counters witnessed higher than average selling pressure in the main bourse, whose capitalisation saw QR9.67bn or 1.51% contraction to QR629.36bn, mainly on large and midcap segments.
The Gulf institutions continued to be bearish but with lesser vigour in the main bourse, which saw a total of 0.3mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.8mn changed hands across 20 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 increase in both the main and venture markets.
The Total Return Index shed 1.61%, All Share Index by 1.57% and Al Rayan Islamic Index (Price) by 1.23%.
The banks and financial services sector index tanked 2.22%, industrials (1.52%), telecom (0.83%), transport (0.68%), real estate (0.32%) and consumer goods and services (0.18%); while insurance gained 2.02%.
About 57% of the traded constituents in the main market were on the red with major shakers being Qatar Islamic Bank, Al Khaleej Takaful, QNB, Qatar National Cement, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Nakilat and Masraf Al Rayan. In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Qatar Insurance, Mannai Corporation, Inma Holding, Medicare Group and Ezdan were among the gainers in the main market.
The foreign institutions were net sellers to the tune of QR29.69mn compared with net buyers of QR14.22mn on December 12.
However, the local retail investors’ net buying increased noticeably to QR26.49mn against QR24.1mn on Monday.
The Arab retail investors’ net buying expanded markedly to QR10.56mn compared to QR1.42mn the previous day.
The domestic funds turned net buyers to the extent of QR4.3mn against net sellers of QR14.76mn on December 12.
The foreign individuals were net buyers to the tune of QR4.23mn compared with net sellers of QR0.4mn on Monday.
The Gulf individuals turned net buyers to the extent of QR1.11mn against net sellers of QR0.8mn the previous day.
The Gulf institutions’ net profit booking weakened perceptibly to QR17.01mn compared to QR23.79mn on December 12.
The Arab institutions had no major net exposure for the third straight session.
Total trade volume in the main market rose 2% to 109.39mn shares, value by 2% to QR447.68mn and deals by less than 1% to 17,089.
The venture market saw 29% surge in trade volumes to 0.18mn equities, 31% in value to QR1.35mn and 18% in transactions to 100.