A 50 basis points (0.5%) hike in the US Federal Reserve's reference benchmark rate on Thursday translated into more than 103 points reduction in the Qatar Stock Exchange's key index and QR6bn erosion in capitalisation.
The real estate, telecom and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index shrank 0.93% to 10,976.75 points, although it touched an intraday high of 11,103 points.
The foreign funds were seen increasingly into net profit booking in the main market, whose year-to-date losses widened to 5.58%.
More than 72% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR5.67bn or 0.9% contraction to QR619.29bn, mainly on large segments.
The domestic institutions were increasingly bearish in the main bourse, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.06mn changed hands across nine 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 0.93%, the All Share Index by 0.9% and the Al Rayan Islamic Index (Price) by 0.66%.
The realty sector index plummeted 2.07%, telecom (1.93%), banks and financial services (1.38%) and industrials (0.61%); while consumer goods and services index gained 1%, transport (0.52%) and insurance (0.29%).
Major losers in the main market included Mannai Corporation, Inma Holding, QIIB, Widam Food, United Development Company, Commercial Bank, Industries Qatar, Estithmar Holding, Barwa, Ooredoo and Nakilat.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Gulf Warehousing, Milaha, Woqod, Al Khaleej Takaful, Qatar Electricity and Water and Qatar Insurance were among the gainers in the main market.
The domestic institutions’ net profit booking grew noticeably to QR17.4mn against QR14.78mn on December 14.
The foreign funds’ net selling increased significantly to QR15.19mn compared to QR5.02mn the previous day.
The Arab individual investors’ net buying declined markedly to QR4.32mn against QR5.56mn on Wednesday.
However, the local retail investors’ net buying increased markedly to QR27.4mn compared to QR23.82mn on December 14.
The Gulf retail investors turned net buyers to the tune of QR2.6mn against net sellers of QR0.14mn the previous day.
The Gulf institutions were net buyers to the extent of QR0.48mn compared with net sellers of QR5.17mn on Wednesday.
The Arab institutions turned net buyers to the tune of QR0.03mn against no major on December 14.
The foreign individuals’ net profit booking eased perceptibly to QR2.24mn compared to QR4.27mn the previous day.
Total trade volume in the main market expanded 34% to 135.9mn shares and value by 58% to QR699.67mn, while deals shrank 20% to 17,123.
In the venture market, the trade volumes tripled to 0.09mn equities and value more than doubled to QR0.58mn on 6% jump in transactions to 18.