Reflecting the concerns on the US' tariffs on Canada and Mexico and its ripple effect on global trade, the Qatar Stock Exchange (QSE) on Monday fell below 10,600 levels intraday but reversed some losses even as it would up 67 points lower.
Selling pressure, especially in the industrials and transportation counters, led the 20-stock Qatar Index shed 0.63% to 10,632.34 points, but recovering from an intraday low of 10,582 points.
The foreign funds were seen net profit takers in the main bourse, whose capitalisation eroded QR3.37bn or 0.54% to QR622.78bn on the back of mid and small cap segments.
The domestic institutions turned bearish in the main market, which saw as many as 6,185 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at mere QR0.02mn changed hands across three deals.
The Gulf retail investors were net sellers in the main bourse, whose trade turnover and volumes were on the increase.
The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills.
The Gulf institutions turned bearish, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index shed 0.63%, the All Share Index by 0.54% and the All Islamic Index by 0.33% in the main market.
The industrials sector index tanked 2.07%, transport (1.67%), insurance (0.52%) and banks and financial services (0.11%); whereas consumer goods and services gained 1.11% and real estate 1.06%. The telecom index was unchanged.
More than 65% of the traded constituents were in the red with major losers being Industries Qatar, Dlala, Qatar Oman Investment, Inma Holding, Qatar German Medical Devices, Lesha Bank, Mekdam Holding, Estithmar Holding, Mazaya Qatar, Nakilat and Milaha.
Nevertheless, Zad Holding, Ezdan, Al Faleh Educational Holding, Barwa and AL Meera were among the gainers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.
The foreign institutions turned net sellers to the tune of QR21.63mn against net buyers of QR8.65mn on February 2.
The domestic institutions were net sellers to the extent of QR4.18mn compared with net buyers of QR11.07mn on Sunday.
The Gulf individual investors turned net sellers to the tune of QR1.27mn against net buyers of QR0.59mn the previous day.
The Arab institutions were net profit takers to the extent of QR0.01mn compared with no major net exposure on February 2.
The Arab individual investors’ net buying weakened perceptibly to QR0.75mn against QR1.69mn on Sunday.
However, the local individuals turned net buyers to the tune of QR22.77mn compared with net sellers of QR10.83mn the previous day.
The foreign retail investors were net buyers to the extent of QR2.1mn against net profit takers of QR1.35mn on February 2.
The Gulf institutions turned net buyers to the tune of QR1.46mn compared with net sellers of QR9.82mn on Sunday.
Trade volumes in the main market soared 57% to 210.37mn shares, value by 79% to QR526.43mn and deals by 75% to 16,388.
The venture market saw doubled trade volumes to 0.26mn equities and value almost doubled to QR0.65mn on more than tripled transactions to 43.
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