Global banking woes continued to dampen sentiments in the Qatar Stock Exchange, which on Wednesday lost more than 102 points and its key index settled below 10,200 levels.
Reflecting the concerns in Credit Suisse, after the collapse of Silicon Valley Bank, the 20-stock Qatar Index tanked 1% to 10113.73 points.
The market, which was skewed towards decliners, however touched an intraday high of 10,300 points.
The domestic institutions were seen squaring off their position in the main market, whose year-to-date losses widened further to 5.31%.
The real estate sector saw higher than average selling pressure in the main bourse, whose capitalisation saw QR4.47bn or 0.76% erosion to QR583.6bn, mainly on account of small and microcap segments.
About 66% of the traded constituents were in the red in the main market, which saw a total of 0.3mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.82mn changed hands across 18 deals.
The foreign retail investors’ weakened net buying had its influence in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the main barometer of the main market, which saw no trading of treasury bills.
The Total Return Index shrank 0.5%, All Share Index by 0.44% and Al Rayan Islamic Index (Price) by 1.25% in the main bourse, whose trade turnover and volumes were on the decline.
The realty index plummeted 1.02%, consumer goods and services (0.92%), banks and financial services (0.51%), industrials (0.35%) and telecom (0.07%); while transport gained 0.14% and insurance (0.09%).
Major shakers in the main market included Qatar Electricity and Water, QIIB, Qatar General Insurance and Reinsurance, Doha Bank, Qatar Oman Investment, Inma Holding, Qatari German Medical Devices, Woqod, Qatar National Cement, Mesaieed Petrochemical Holding, Qamco, Mazaya Qatar and Milaha.
Nevertheless, Gulf Warehousing, Qatar Industrial Manufacturing, Nakilat, Al Khaleej Takaful, Zad Holding and Vodafone Qatar were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
The domestic funds turned net sellers to the tune of QR1.12mn compared with net buyers of QR65.19mn on March 14.
The foreign retail investors’ net buying declined noticeably to QR0.49mn against QR5.16mn the previous day.
The Gulf individual investors’ net buying eased perceptibly to QR0.14mn compared to QR1.55mn on Tuesday.
However, the Gulf institutions were net buyers to the extent of QR19.82mn compared with net sellers of QR1.05mn on March 14.
The local retail investors turned net buyers to the tune of QR4.76mn against net sellers of QR4.18mn the previous day.
The Arab individuals were net buyers to the extent of QR3.38mn compared with net sellers of QR13.46mn on Tuesday.
The foreign institutions’ net profit booking decreased substantially to QR27.46mn against QR53.23mn on March 14.
The Arab institutions had no major net exposure compared with net buyers to the tune of QR0.01mn the previous day.
The main market saw a 16% fall in trade volumes to 94.2mn shares, 16% in value to QR371.35mn and 13% in deals to 14,623.