Reflecting the global contagion of Silicon Valley Bank (SVB), the Qatar Stock Exchange on Monday saw its key index plummet more than 164 points and capitalisation erode QR10bn.
A higher than average selling pressure, particularly at the banking counter, led the 20-stock Qatar Index to plunge 1.49% to 10,408.42 points.
The market, which was skewed towards decliners, however touched an intraday high of 10,577 points.
The local retail investors were seen bearish in the main market, whose year-to-date losses widened to 2.55%.
The foreign institutions turned net profit takers in the main bourse, whose capitalisation saw QR9.69bn or 1.59% erosion to QR599.56bn, mainly on account of mid and small cap segments.
The Gulf funds were also seen bearish in the main market, which saw a total of 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.63mn changed hands across 38 deals.
The Gulf retail investors were increasingly into net selling in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index shrank 1.17%, the All Share Index by 1.24% and the Al Rayan Islamic Index (Price) by 1.13% in the main bourse, whose trade turnover and volumes were on the rise.
The banks and financial services sector index tanked 2.17%, real estate (0.6%), consumer goods and services (0.53%), insurance (0.34%), transport (0.25%) and industrials (0.01%); while telecom was up 0.01%.
About 66% of the traded constituents were in the red in the main market with major shakers being Beema, Qatar Industrial Manufacturing, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Mazaya Qatar, QNB, Lesha Bank, Qatari German Medical Devices, Widam Food, Ezdan and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Al Meera, Baladna, Vodafone Qatar, Medicare Group and Mekdam Holding were among the gainers in the main market.
The local retail investors turned net sellers to the tune of QR21.99mn against net buyers of QR2.7mn on March 12.
The foreign institutions were net sellers to the extent of QR11.18mn compared with net buyers of QR11.72mn on Sunday.
The Gulf institutions turned net profit takers to the tune of QR4.17mn against net buyers of QR2.78mn the previous day.
The Gulf individual investors’ net selling increased noticeably to QR2.26mn compared to QR0.72mn on March 12.
The foreign retail investors were net sellers to the extent of QR1.02mn against net buyers of QR4.4mn on Sunday.
However, the domestic funds turned net buyers to the tune of QR36.14mn compared with net sellers of QR9.26mn the previous day.
The Arab retail investors were net buyers to the extent of QR4.03mn against net profit takers of QR11.63mn on March 12.
The Arab institutions had no major net exposure for the second straight session.
The main market saw a 37% jump in trade volumes to 134.16mn shares, 76% in value to QR444mn and 82% in deals to 15,137.
