The Qatar Stock Exchange on Wednesday reopened after Eid holidays with more than 159 points decline, mainly on higher than average selling pressure, especially at insurance, banking and industrials counters.
Foreign institutions’ profit booking pressure rather drove the 20-stock Qatar Index to plunge 1.62% to 9,675.54 points.
However, there were strong buying interests from local retail investors on the market, whose key benchmark closed 6.05% lower year-to-date.
Market capitalisation stood at QR532.15bn, mainly owing to selling in the large and midcap segments.
Islamic equities were seen declining slower than the other indices on the market, where the non-Qatari and Gulf retail investors were marginally bullish.
Trade turnover and volumes were on the decline on the bourse, where banking, industrials and real estate sectors together accounted for large part of the total volume.
The Total Return Index rose 1.62% to 17,803.8 points, All Share Index by 1.69% to 2,856.36 points and Al Rayan Islamic Index (Price) by 0.99% to 2,227.89 points.
The insurance index plunged 2.21%, banks and financial services (2.15%), industrials (2.02%), telecom (1.29%), transport (0.69%), consumer goods (0.52%) and real estate (0.32%).
More than 70% of the traded constituents were in the red with major losers being Qatar Insurance, QNB, Commercial Bank, Masraf Al Rayan, Industries Qatar, Ooredoo, Gulf Warehousing, Qatar First Bank and Al Khaliji; even as QIIB, Qatar Oman Investment, Alijarah Holding, Salam International Investment, Al Khaleej Takaful and United Development Company were among the gainers.
Non-Qatari institutions were net sellers to the tune of QR73.23mn, whereas domestic and the Gulf funds were net buyers to the extent of QR31.79mn and QR1.65mn respectively.
Local, non-Qatari and the Gulf individual investors were to the tune of QR31.07mn, QR2.05mn and QR0.71mn respectively.
A total of 43.7mn shares valued at QR209.34mn changed hands across 7,663 transactions with as many as 16.28mn banking equities worth QR122.38mn trade across 2,514 deals.
The industrials and real estate sectors saw 9.93mn and 8.93mn stocks valued at QR38.88mn and QR13.64mn changed hands across 2,751 and 651 transactions.
There were a total of 2.92mn and 2.1mn insurance and telecom equities worth QR7.46mn and QR9.52mn trade across 494 and 691 deals.
The transport and consumer goods sectors witnessed 1.87mn and 1.68mn stocks valued at QR4.68mn and QR12.78mn changed hands in 219 and 343 transactions.
In the debt market, there was no trading of treasury bills and sovereign bonds.