Concerns over an imminent sharp rate hike in the US rattled global markets, whose reverberation was felt on the Qatar Stock Exchange, which on Monday lost a huge 165 points in key index and QR9bn in capitalisation.
The transport, banking and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index plunged 1.19% to 13,801.16 points, although it touched an intraday high of 13,995 points.
The local retail investors were increasingly net sellers in the market, whose year-to-date gains were at 18.71%.
The Gulf funds were also increasingly net profit takers in the bourse, whose capitalisation tanked more than QR9bn or 1.21% to QR770.15bn, mainly on the back of mid and small cap segments.
The Islamic index was seen declining faster than the other indices in the market, which saw a total of 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.45mn changed hands across 15 deals.
The Arab individuals turned bearish in the market, which saw no trading of sovereign bonds.
The domestic funds’ net buying was seen weakening drastically in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 1.19% to 28,269.26 points, the All Share Index by 1.2% to 4,383.49 points and the Al Rayan Islamic Index (Price) by 1.33% to 3,014.43 points.
The transport sector index plummeted 2.38%, telecom (1.93%), banks and financial services (1.38%), insurance (1.12%), real estate (0.95%) and industrials (0.77%); while consumer goods and services rose 0.18%.
More than 80% of the traded constituents were in the red in the main market and included Mannai Corporation, Doha Insurance, Milaha, Aamal Company, Estithmar Holding, QNB, QIIB, Gulf International Services, QLM, Ezdan, Barwa and Ooredoo.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, Qatari German Medical Devices, Ahlibank Qatar, Woqod, Qatar National Cement and Dlala were among the gainers in the main market. In the junior bourse, Mekdam Holding saw its shares appreciate in value.
Qatari individuals’ net selling increased considerably to QR72.72mn compared to QR46.27mn on August 21.
The Gulf institutions’ net selling grew perceptibly to QR10.64mn against QR7.59mn the previous day.
The Arab individuals turned net sellers to the tune of QR5.12mn compared with net buyers of QR11.33mn on Sunday.
The Gulf retail investors were net sellers to the extent of QR2.88mn against net buyers of QR1.08mn on August 21.
The domestic institutions’ net buying declined noticeably to QR27.17mn compared to QR45.84mn the previous day.
However, the foreign institutions’ net buying expanded significantly to QR66.09mn against QR2.48mn on Sunday.
The foreign individuals’ net profit booking weakened markedly to QR1.9mn compared to QR6.87mn on August 21.
The Arab funds had no major net exposure for the second consecutive day.
Total trade volume in the main market shrank 9% to 203.43mn shares, while value shot up 26% to QR774.42mn and deals by 31% to 18,494.
In the venture market, trade volumes plunged 46% to 0.28mn equities, value by 58% to QR1.53mn and transactions by 58% to 76.