Reflecting the turbulent global markets, a day after the US rate hike, the Qatar Stock Exchange yesterday saw its key barometer plummet more than 131 points and capitalisation erode in excess of QR7bn. The insurance and industrials counters witnessed higher than average selling pressure as the 20-stock Qatar Index lost 0.98% to 12,306.07 points but recovering from an intraday low of 12,280 points.
The foreign institutions’ weakened net buying interests had its influence in the market, whose year-to-date gains truncated to 5.85%.
About 66% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR7.27bn or 1.05% decrease to QR687.2bn, mainly on the back of large and small cap segments. The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.33mn changed hands across 12 deals.
Trade turnover fell amidst higher volumes in the main market; while the venture market saw an increased turnover and trade volumes.
The local retail investors were seen bullish in the bourse, which saw no trading of sovereign bonds.
The foreign retail investors were increasingly net buyers in the main market, which saw no trading of treasury bills. The Total Return Index shed 0.98% to 25,206.82 points, All Share Index by 0.88% to 3,936.28 points and Al Rayan Islamic Index (Price) by 0.78% to 2,705.03 points.
The insurance index tanked 1.9%, industrials (1.42%), banks and financial services (0.85%), consumer goods and services (0.71%), real estate (0.23%) and transport (0.02%); while telecom was up 0.07%.
Major losers in the main market included Ahlibank Qatar, QLM, Aamal Company, Mesaieed Petrochemical Holding, Widam Food, Commercial Bank, Doha Bank, QIIB, Salam International Investment, Industries Qatar and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, United Development Company, Baladna, Qatari German Medical Devices, Medicare Group and Mannai Corporation saw their shares appreciate in value. The Gulf institutions’ net profit booking grew markedly to QR5.91mn compared to QR1.58mn on November 2.
The foreign institutions’ net buying decreased considerably to QR15.12mn against QR88.51mn the previous day.
However, the local retail investors turned net buyers to the tune of QR8.27mn compared with net sellers of QR8.52mn on Wednesday.
The foreign individuals’ net buying expanded noticeably to QR6.31mn against QR1.07mn on November 2.
The Gulf individuals’ net selling declined significantly to QR3.6mn compared to QR37.55mn the previous day.
The domestic institutions’ net profit booking fell perceptibly to QR17.75mn against QR35.33mn on Wednesday.
The Arab retail investors’ net selling eased marginally to QR2.45mn compared to QR3.01mn on November 2.
The Arab institutions had no major net exposure against net buyers to the tune of QR0.18mn the previous day.
Total trade volume in the main market grew 11% to 118.85mn shares, while value shrank 14% to QR407.31mn and deals by 11% to 16,622.
The venture market saw trade volumes double to 0.18mn equities and value soar 55% to QR1.02mn but on 56% decline in transactions to 20.