Global recession fears continued to play spoilsport in the Qatar Stock Exchange, which on Monday plummeted 164 points and its key index retreated below 12,300 levels.
The foreign and gulf institutions were increasingly net profit takers as the 20-stock Qatar Index tanked 1.32% to 12,287.78 points, although it touched an intraday high of 12,469 points.
The banking counter witnessed higher than average selling pressure in the market, whose year-to-date gains fell to 5.69%.
About 58% of the traded constituents were in the red in the bourse, whose capitalisation eroded QR8.07bn or 1.17% to QR679.8bn, mainly on the back of mid and small cap segments.
The Islamic index declined slower than the other indices in the market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.55mn changed hands across 24 deals.
Trade turnover and volumes were seen increasing in the main market; whereas in the venture market, both trade turnover and volumes were on a declining mode.
The domestic institutions turned net sellers in the bourse, which saw no trading of sovereign bonds.
The foreign individuals were also seen net sellers in the market, which saw no trading of treasury bills.
The Total Return Index declined 1.32% to 25,169.36 points, All Share Index by 1.27% to 3,909.68 points and Al Rayan Islamic Index (Price) by 1.26% to 2,692.91 points.
The banks and financial services sector index lost 2.03%, real estate (1.15%), industrials (0.94%) and consumer goods and services (0.51%); while transport gained 1.13%, insurance (0.84%) and telecom (0.59%).
Major losers in the main market included Milaha, Qatar Islamic Bank, Commercial Bank, QNB, Aamal Company, QIIB, Masraf Al Rayan, Industries Qatar, Mesaieed Petrochemical Holding, United Development Company and Vodafone Qatar. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, QLM, Nakilat, Doha Insurance, Gulf Warehousing, Al Khaleej Takaful, Baladna, Estithmar Holding and Ooredoo were among the gainers in the main market. In the juniour bourse, Mekdam Holding saw its shares appreciate in value.
The foreign institutions’ net selling increased substantially to QR45.05mn compared to QR1.03mn on September 25.
The Gulf institutions’ net profit booking expanded significantly to QR10.4mn against QR1.61mn the previous week.
The domestic funds were net sellers to the extent of QR8.35mn compared with net buyers of QR15.84mn on Sunday.
The foreign individuals turned net sellers to the tune of QR2.65mn against net buyers of QR7.03mn on September 25.
However, Qatari individuals were net buyers to the extent of QR54.62mn compared with net sellers of QR17.43mn the previous day.
The Arab individuals turned net buyers to the tune of QR8.54mn against net profit takers of QR2mn on Sunday.
The Gulf retail investors were net buyers to the extent of QR2.39mn compared with net sellers of QR0.8mn on September 25.
The Arab institutions turned net buyers to the tune of QR0.89mn against no major net exposure the previous day.
Total trade volume in the main market grew 24% to 153.71mn shares and value by 67% to QR526.02mn on more than doubled deals to 19,640.
The venture market saw a 91% plunge in trade volumes to 0.04mn equities, 90% in value to QR0.25mn and 79% in transactions to 24.