Reflecting the global sentiments over the rising Covid-19 cases in China, the Qatar Stock Exchange Tuesday plunged 234 points and its key index settled below 13,300 levels and capitalisation eroded QR12bn.
The foreign funds’ increased net buying notwithstanding, the 20-stock Qatar Index tanked 1.74% to 13,236.76 points, although it touched an intraday high of 13,464 points.
The industrials and real estate counters witnessed higher than average selling pressure in the market, whose year-to-date gains were at 13.86%.
The Islamic index was seen declining faster than the other indices in the market, whose capitalisation saw 1.62% decline to QR750.17bn, mainly on the back of large and midcap segments.
The foreign individuals were seen net profit takers in the bourse, where the industrials and banking sectors together accounted for more than 71% of the trading volume.
More than 76% of the traded constituents were in the red in the bourse, which saw a total of 15,250 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR45,040 changed hands across five deals.
The Gulf institutions’ net buying weakened substantially in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 1.58% to 26,917.08points, Al Rayan Islamic Index (Price) by 2.26% to 2,860.87 points and All Share Index by 1.27% to 4,237.36 points.
The industrials sector index tanked 3.62%, real estate (3.23%), consumer goods and services (0.67%), banks and financial services (0.42%), telecom (0.3%) and transport (0.23%); while insurance index gained 0.16%.
Major losers in the main market included Qatar Electricity and Water, Dlala, Qamco, Mesaieed Petrochemical Holding, Barwa, Commercial Bank, Inma Holding, Qatari German Medical Devices, Al Meera, Baladna, Qatar National Cement, Industries Qatar, Aamal Company, Gulf International Services, QLM, Ezdan and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Qatar Industrial Manufacturing, Al Khaleej Takaful, Investment Holding Group and Widam Food were among the gainers in the main market.
The foreign individuals turned net sellers to the tune of QR18.03mn compared with net buyers of QR3.16mn on March 14.
The Gulf institutions’ net buying declined substantially to QR26.4mn against QR160.82mn the previous day.
However, the foreign institutions’ net buying grew perceptibly to QR195.28mn compared to QR190.27mn on Monday.
The Arab individuals turned net buyers to the tune of QR18.19mn against net sellers of QR23.43mn on March 14.
The Arab funds were net buyers to the extent of QR0.27mn compared with no major net exposure the previous day.
The Gulf individuals turned net buyers to the tune of QR0.09mn against net profit takers of QR0.61mn on Monday.
The domestic funds’ net selling decreased markedly to QR200.77mn compared to QR226.01mn on March 14.
Qatari individuals’ net profit booking weakened drastically to QR21.43mn against QR104.17mn the previous day.
Total trade volume in the main market fell 39% to 220.47mn shares, value by 24% to QR913.51mn and transactions by 20% to 18,085.
The real estate sector’s trade volume plummeted 71% to 25.33mn equities, value by 63% to QR42.35mn and deals by 55% to 1,231.
There was 66% plunge in the insurance sector’s trade volume to 1.28mn stocks, 66% in value to QR4.49mn and 51% in transactions to 144.
The banks and financial services sector’s trade volume tanked 42% to 54.65mn shares, value by 31% to QR403.27mn and deals by 22% to 7,865.
The consumer goods and services sector reported 34% shrinkage in trade volume to 28.13mn equities, 47% in value to QR45.56mn and 38% in transactions to 1,116.
The transport sector’s trade volume shrank 33% to 3.44mn stocks and value by 27% to QR17.36mn, whereas deals grew 10% to 638.
The market witnessed 17% contraction in the industrials sector’s trade volume to 102.87mn shares but on 2% jump in value to QR375.22mn amidst 11% lower transactions at 5,738.
However, the telecom sector’s trade volume was up 6% to 4.77mn equities and value by 72% to QR25.26mn on more than doubled deals to 1,353.
The venture market reported 46.15% decline in trade volumes to 0.07mn stocks, 42.98% in value to QR0.65mn and 46.51% in transactions to 23.