Reflecting the fragile investor sentiments in the global markets, following the crises in Silicon Valley Bank and Credit Suisse, the Qatar Stock Exchange yesterday plunged more than 200 points as its key index fell below 10,000 points.
The foreign institutions were increasingly into net selling as the 20-stock Qatar Index tanked 2.01% to 9,910.9 points.
The market, which was skewed towards decliners, however recovered from an intraday low of 9,813 points.
The industrials and insurance counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened further to 7.22%.
More than 69% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR12.48bn or 2.14% erosion to QR571.12bn, mainly on account of large cap segments.
The foreign, Arab and Gulf individuals turned bearish in the main market, which saw a total of 0.19mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.56mn changed hands across 15 deals.
However, the local retail investors were increasingly into net buying in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills.
The Total Return Index was down 0.18%, the All Share Index by 0.21% and the Al Rayan Islamic Index (Price) by 1.72% in the main bourse, whose trade turnover and volumes were on the increase.
The industrials sector index plummeted 2.35%, followed by insurance (2.21%) and realty (1.29%); even as transport gained 2.23%, consumer goods and services (0.6%) and banks and financial services (0.44%). The telecom index was unchanged.
Major shakers in the main market included Industries Qatar, Estithmar Holding, Aamal Company, Qatar General Insurance and Reinsurance, Gulf Warehousing, Commercial Bank, Masraf Al Rayan, Qatari German Medical Devices, Mannai Corporation, Mekdam Holding, Qatar Industrial Manufacturing, Gulf International Services, Mesaieed Petrochemical Holding, Qamco, Qatar Insurance and Ezdan.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Milaha, Woqod, Qatari Investors Group, Widam Food and QNB were among the gainers in the main market.
The foreign institutions’ net profit booking increased substantially to QR45.05mn compared to QR27.46mn on March 15.
The foreign retail investors turned net sellers to the tune of QR0.74mn against net buyers of QR0.49mn the previous day.
The Arab individuals were net sellers to the extent of QR0.57mn compared with net buyers of QR3.38mn on Wednesday.
The Gulf individual investors turned net sellers to the tune of QR0.28mn against net buyers of QR0.14mn on March 15.
However, the Gulf institutions’ net buying rose marginally to QR19.93mn compared to QR19.82mn the previous day.
The local retail investors’ net buying expanded significantly to QR14.54mn against QR4.76mn on Wednesday.
The domestic funds turned net buyers to the extent of QR12.11mn compared with net sellers of QR1.12mn on March 15.
The Arab institutions were net buyers to the tune of QR0.05mn against no major net exposure the previous day.
In the main market, trade volumes more than tripled to 274.63mn shares and value more than doubled to QR897.67mn on a 29% increase in deals to 18,458.