Reflecting the regional concerns that interest rates are expected to stay higher for a longer period, the Qatar Stock Exchange Monday lost 24 points on the back of selling pressure, especially in the real estate and industrials sectors.
The foreign retail investors were seen net profit takers as the 20-stock Qatar Index declined 0.23% to 10,267.78 points.
Oxford economics, in its latest research note, had said the Gulf Cooperation Council or GCC will experience an extended period of higher rates, which are now at their 20-year high.
The Gulf individuals also turned net sellers in the main market, whose year-to-date losses widened further to 3.87%.
More than 57% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR0.66bn or 0.11% to QR602.95bn with microcap segments losing the most.
The foreign institutions’ weakened net buying had its dampening influence in the main market, which however touched an intraday high of 10,311 points.
The Islamic equities were seen declining faster than the other indices in the main bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.26mn changed hands across 15 deals.
The Gulf funds’ lower net buying interests also had its say in the main market, which saw no trading of sovereign bonds.
The local retail investors continued to be net sellers but with lesser intensity in the main market, which saw no trading of treasury bills.
The Total Return Index fell 0.23%, All Share Index by 0.07% and Al Rayan Islamic Index (Price) by 0.45% in the main bourse, whose trade turnover and volumes were on the increase.
The real estate sector tanked 1.13%, industrials (0.57%), transport (0.2%) and consumer goods and services (0.11%); while insurance gained 0.33%, banks and financial services (0.22%) and telecom (0.12%).
Major losers in the main market included Dukhan Bank, Mazaya Qatar, Qatari German Medical Devices, Barwa, Industries Qatar, Doha Bank, Inma Holding, Baladna and Meeza.
Nevertheless, Qatar Oman Investment, Widam Food, Qatar Industrial Manufacturing, Gulf Warehousing, Qatar Electricity and Water, and QNB were among the gainers in the main bourse. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares appreciate in value.
The foreign individuals were net sellers to the extent of QR16.08mn compared with net buyers of QR2.25mn on September 24.
The Gulf retail investors turned net sellers to the tune of QR0.99mn against net buyers of QR0.07mn the previous day.
The foreign institutions’ net buying declined substantially to QR5.6mn compared to QR22.78mn on Sunday.
The Gulf institutions’ net buying decreased marginally to QR3.78mn against QR3.91mn on September 24.
However, the domestic funds were net buyers to the extent of QR6.87mn compared with net sellers of QR1.59mn the previous day.
The Arab individual investors turned net buyers to the tune of QR5.2mn against net sellers of QR1.82mn on Sunday.
The local retail investors’ net profit booking weakened drastically to QR4.38mn compared to QR25.6mn on September 24.
The Arab institutions had no major net exposure for the fourth consecutive session.
Trade volumes in the main market soared 25% to 200.15mn shares, value by 23% to QR530.15mn and deals by 47% to 18,360.
The venture market saw trade volumes more than double to 2.3mn equities and value surge 84% to QR2.47mn on 8% jump in transactions to 117.
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