The Qatar Stock Exchange on Monday saw heavy sell-off, which led its benchmark to plummet 134 points and capitalisation to erode QR8bn, as 80% of the traded constituents were in the red, reflecting the global concerns of more aggressive monetary tightening in the US.
An across the board selling – particularly in the real estate, telecom and industrials counters – dragged the 20-stock Qatar Index 1.23% to 10,784.6 points, although it touched an intraday high of 10,893 points.
The foreign funds, which otherwise had lower exposure in view of extended holidays, were seen increasingly into net profit booking in the main bourse, whose capitalisation nevertheless saw QR7.85bn or 1.26% decrease to QR612.73bn, mainly on mid and small cap segments.
The Arab retail investors were increasingly net sellers in the main bourse, which saw a total of 0.11mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.4mn changed hands across 26 deals.
The Islamic index was seen declining faster than the main index in the main market, which saw no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were in the increase in the main market.
The Total Return Index shrank 1.23%, the All Share Index by 1.08% and the Al Rayan Islamic Index (Price) by 1.41%.
The realty sector index tanked 2.6%, telecom (1.64%), industrials (1.31%), consumer goods and services (1.07%), banks and financial services (0.93%), transport (0.67%) and insurance (0.36%).
Major shakers in the main market included Qatar General Insurance and Reinsurance, Inma Holding, Ezdan, Qatari German Medical Devices, Dlala, Qatar Islamic Bank, Alijarah Holding, Salam International Investment, Mannai Corporation, Industries Qatar, Gulf International Services, Aamal Company, Mesaieed Petrochemical Holding, Barwa and Ooredoo.
Nevertheless, Qatar National Cement, Milaha and Vodafone Qatar were among the gainers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
The foreign institutions’ net selling increased significantly to QR17.75mn compared to QR6.99mn on December 25.
The Arab individuals’ net profit booking expanded markedly to QR8.92mn QR1.89mn the previous day.
The domestic institutions turned net sellers to the tune of QR3.86mn compared with net buyers of QR3.34mn on Sunday.
The foreign individuals’ net buying weakened perceptibly to QR0.71mn against QR1.97mn on December 25.
However, the local retail investors’ net buying grew significantly to QR14.95mn compared to QR3.07mn the previous day.
The Gulf institutions’ net buying strengthened considerably to QR14.6mn against QR0.35mn on Sunday.
The Gulf retail investors’ net buying edged up marginally to QR0.31mn compared to QR0.15mn on December 25.
The Arab institutions had no major net exposure for the sixth straight session.
The main market saw a 3% jump in trade volume to 71.44mn shares, 17% in value to QR204.92mn and 18% in deals to 6,929.
In the junior bourse, a total of 0.23mn equities valued at QR0.48mn changed hands across 37 transactions.