Ahead of FTSE Russell inclusion of some local entities and the US Fed meet to discuss rate policy, Qatar Stock Exchange on Monday witnessed QR20bn erosion in capitalisation and a huge 420 points plunge in its key barometer.
An across-the-board selling – particularly in telecom, transport and real estate – led the 20-stock Qatar Index plummet 3.97%, its largest single-day loss since January this year, to 10,152.77 points.
The market has wiped off the cumulative gains made since January with it reporting 2.65% fall year-to-date.
Large and midcap equities bore the maximum brunt in the bourse, where banking, realty and industrials stocks together accounted for more than 68% of the total volumes.
Islamic stocks were seen declining slower than the conventional ones in the market, where foreign institutions turned profit takers.
Market capitalisation eroded 3.46% to QR546.87bn as large, mid and microcap equities declined 3.76%, 2.42% and 0.88% respectively; even as small caps were up 0.08%.
The Total Return Index plunged 3.97% to 16,426.51 points, All Share Index by 3.38% to 2,816.69 points and Al Rayan Islamic Index by 2.97% to 3,860.06 points.
Telecom stocks plunged 5.62%, transport (5.55%), real estate (4.19%), insurance (4.02%), industrials (3.67%), banks and financial services (2.48%) and consumer goods (0.4%).
About 74% of the stocks were in the red with major influential losers being Industries Qatar, Vodafone Qatar, Ooredoo, Nakilat, Qatar Insurance, Ezdan, Barwa, Mesaieed Petrochemical Holding, QNB, Qatar Islamic Bank, Doha Bank, Commercial Bank, Masraf Al Rayan and Alijarah Holding; even as Dlala and Salam International Investment made some gains.
Non-Qatari institutions turned net sellers to the tune of QR25.81mn against net buyers of QR405.81mn on September 18.
However, domestic institutions turned net buyers to the extent of QR109.22mn compared with net sellers of QR290.81mn on Sunday.
Local retail investors’ net profit booking weakened to QR38.14mn against QR48.56mn the previous day.
The GCC (Gulf Cooperation Council) institutions’ net selling also fell to QR61.09mn compared to QR62.27mn on September 18.
Non-Qatari individual investors’ net buying strengthened to QR13.23mn against QR0.97mn on Sunday.
The GCC individual investors turned net buyers to the tune of QR2.46mn compared with net sellers of QR5.15mn the previous day.
Total trade volume rose 97% to 26.94mn shares, value by 86% to QR1.3bn and deals by 62% to 10,023.
The consumer goods sector’s trade volume grew more than five-fold to 1.63mn equities and value by more than nine-fold to QR128.74mn on more than tripled transactions to 607.
The insurance sector’s trade volume also grew more than five-fold to 1.16mn stocks and value by more than five-fold to QR100.72mn on more than doubled deals to 608.
The telecom sector’s trade volume more than doubled to 3.75mn shares, value soared 46% to QR106.6mn and transactions by 65% to 1,367.
The industrials sector’s trade volume more than doubled to 4.29mn equities, value expanded 51% to QR207.02mn and deals by 25% to 1,983.
There was 80% surge in the real estate sector’s trade volume to 5.39mn stocks, 80% in value to QR125.26mn and 65% in transactions to 1,420.
The banks and financial services sector’s trade volume increased 59% to 8.75mn shares, value by 61% to QR560.56mn and deals by 55% to 3,129.
The transport sector reported 54% jump in trade volume to 1.95mn equities, 97% in value to QR68.2mn and 99% in transactions to 909.
In the debt market, there was no trading of treasury bills and government bonds.
The Qatar Index fell 3.97% to 10,152.77 points.
