(MENAFN- Gulf Times)
Reflecting the global turmoil brought about by a sharp 75 basis points hike in the US rates, the Qatar Stock Exchange on Thursday fell more than 114 points and capitalisation eroded QR6bn.
An across the board selling, particularly at the telecom, industrials and real estate counters, led the 20-stock Qatar Index to decline 0.9% to 12,643.8 points, although it touched an intraday high of 12,829 points.
The Gulf institutions were seen increasingly net profit takers in the market, whose year-to-date gains truncated to 8.76%.
About 78% of the traded constituents were in the red in the bourse, whose capitalisation eroded QR5.9bn or 0.84% to QR699.84bn, mainly on the back of midcap segments.
The Islamic index declined faster than the other indices in the market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.54mn changed hands across 17 deals.
Trade turnover and volumes were on the increase in the main market; whereas it was on the decline in the venture market.
The domestic institutions turned bearish in the bourse, which saw no trading of sovereign bonds.
The Gulf individuals were increasingly into net selling, albeit at lower levels, in the market, which saw no trading of treasury bills.
The Total Return Index shed 0.9% to 25,898.62 points, the All Share Index by 0.78% to 4,020.85 points and the Al Rayan Islamic Index (Price) by 1.14% to 2,779.89 points.
The telecom sector index tanked 2.25%, industrials (1.47%), realty (1.09%), insurance (0.87%), transport (0.78%), banks and financial services (0.45%) and consumer goods and services (0.13%).
Major losers in the main market included Qatar Electricity and Water, Ooredoo, Aamal Company, Medicare Group, Qatar General Insurance and Reinsurance, Doha Bank, Estithmar Holding, Ezdan, Barwa, Vodafone Qatar, Milaha and Gulf Warehousing.
Nevertheless, Qatari German Medical Devices, Inma Holding, Doha Insurance, Dlala and Zad Holding were among the gainers in the main market.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
The Gulf institutions' net selling increased significantly to QR21.36mn compared to QR1.85mn on September 21.
The domestic institutions were net sellers to the tune of QR4.86mn against net buyers of QR10.58mn the previous day.
The Gulf retail investors' net profit booking rose slightly to QR0.32mn compared to QR0.2mn on Wednesday.
The local retail investors' net buying declined markedly to QR13.46mn against QR27.83mn on September 21.
The foreign individuals' net buying shrank perceptibly to QR3.47mn compared to QR9.97mn the previous day.
The Arab institutions' net buying weakened marginally to QR0.42mn against QR0.94mn on Wednesday.
However, the Arab individuals were net buyers to the extent of QR6.54mn compared with net sellers of QR4.16mn on September 21.
The foreign institutions turned net buyers to the tune of QR2.66mn against net sellers of QR43.12mn the previous day.
Total trade volume in the main market grew 21% to 121.52mn shares and value by 3% to QR392.97mn but on almost flat deals at 13,654.
The venture market saw 62% contraction in trade volumes to 0.08mn equities, 58% in value to QR0.4mn and 54% in transactions to 40.
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