Severe correction – particularly in the consumer goods, telecom, real estate, transport and industrials stocks –led the 20-stock Qatar Index plummet 2.34% to 9,185.12 points.
Institutional investors were mainly instrumental in the overall bearish sentiments in the market, which is down 11.93% year-to-date.
Non-Qatari individual investors’ bearish outlook also abetted the decline in the bourse, where trading turnover increased.
The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the market, where the banking, industrials, realty and consumer goods sectors together accounted more than 85% of the total trading volume.
Market capitalisation eroded 2.08% or more than QR10bn to QR489.93bn with micro, mid, small and large cap equities melting 4.97%, 3.01%, 2.98% and 1.83% respectively.
The Total Return Index plunged 2.34% to 14,276.94 points, All Share Index by 2.41% to 2,448.78 points and Al Rayan Islamic Index by 3.43% to 3,338.13 points.
Consumer goods equities tanked 4.76%, telecom (3.08%), real estate (3.01%), transport (2.95%), industrials (2.49%), insurance (1.92%) and banks and financial services (1.68%).
As much as 90% of the stocks were in the red with major losers being Doha Bank, Qatar Islamic Bank, Islamic Holding Group, Masraf Al Rayan, Dlala, Qatari German Company for Medical Devices, Salam International Investment, Industries Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar, United Development Company, Ezdan, Vodafone Qatar, Ooredoo, Nakilat and Milaha; even as QNB and Mannai Corporation bucked the trend.
Domestic institutions’ net selling increased to QR13.68mn against QR5.62mn the previous day.
Non-Qatari institutions’ net profit booking surged to QR40.91mn compared to QR11.23mn on Wednesday.
The GCC (Gulf Cooperation Council) institutions turned net sellers to tune of QR19.74mn against net buyers of QR1.09mn on January 13.
Non-Qatari individual investors turned were also net sellers to the extent of QR5.05mn compared with net buyers of QR1.38mn the previous day.
However, local retail investors’ net buying substantially increased to QR74.63mn compared to QR12.47mn on Wednesday.
The GCC individuals’ net buying also swelled to QR4.7mn against QR1.92mn on January 13.
Total trade volume rose 61% to 8.99mn shares, value by 83% to QR388.51mn and deals by 51% to 4,859.
The consumer goods sector’s trade volume grew more than seven-fold to 1.14mn equities and value more than quadrupled to QR45.22mn on more than doubled transactions to 727.
The telecom sector’s trade volume more than doubled to 0.81mn stocks and value more than doubled to QR17.56mn on more than doubled deals to 668.
The banks and financial services sector’s trade volume almost doubled to 3.21mn shares and value more than doubled to QR192.12mn on 83% jump in transactions to 1,616.
The insurance sector saw 25% surge in trade volume to 0.05mn equities and 42% in value to QR3.3mn on more than doubled deals to 81.
The real estate sector’s trade volume grew 18% to 1.51mn stocks; while value fell 12% to QR27.26mn. Transactions were up 6% to 576.
There was 15% expansion in the transport sector’s trade volume to 0.46mn shares, 28% in value to QR14.79mn and 52% in deals to 289.
The industrials sector witnessed 5% in trade volume to 1.81mn equities and 19% in value to QR88.26mn but on 10% decline in transactions to 902.
In the debt market, there was no trading of treasury bills and government bonds.
