The Qatar stock market faced a sharp decline as investors reacted to growing uncertainty. The main index fell by 77 points, reaching 10,384.72 points. This drop happened as 69% of the stocks ended in the red. Geopolitical concerns played a major role in this decline.
Foreign institutions sold off large positions, leading to a 0.73% dip in the index. The market reached an intraday high of 10,465 points before closing lower. Banks and telecom stocks faced heavy selling pressure. As a result, the market’s year-to-date losses increased to 1.76%.
Gulf institutions also remained sellers, but their activity was less aggressive. The market capitalization shrank by QR4.74 billion, standing at QR607.83 billion. Midcap stocks saw the most impact. Meanwhile, domestic funds increased their buying activity.
Local retail investors turned into buyers, supporting the market. Despite their efforts, trading volume and turnover declined. The Islamic index dropped at a slower pace compared to other indices. There was no trading in treasury bills or sovereign bonds.
The Total Return Index lost 0.62%, while the All Share Index fell 0.68%. The All Islamic Index dropped 0.57%. Banking stocks suffered the most, falling 1.23%. Telecom stocks dropped 0.91%, while consumer goods declined 0.39%. The insurance and real estate sectors also recorded small losses. Meanwhile, the transport sector rose by 0.54%, and industrial stocks remained stable.
Some of the major losers included Qatari Investors Group, Qatar German Medical Devices, and QNB. On the other hand, companies like Baladna, Nakilat, and Milaha gained value.
Foreign institutions increased their net selling to QR104 million, compared to QR31.22 million the previous day. Foreign individual investors also raised their net selling to QR3.83 million. However, domestic funds increased their net buying to QR63.54 million, compared to QR41.19 million earlier. Local individuals also turned into net buyers, purchasing QR31.96 million worth of stocks.
The Arab investors showed strong buying activity, increasing their net purchases to QR9.85 million. Gulf retail investors turned into buyers, adding QR3.29 million. The Gulf institutions slowed their selling, reducing their net sales to QR0.81 million.
Trading volume in the main market dropped by 31%, reaching 155.34 million shares. The value of transactions fell by 2% to QR465.41 million. The number of deals also declined by 35%, totaling 25,408. The venture market saw an even bigger drop, with trade volume decreasing by 66%. The value of transactions in this market fell by 66%, and the number of deals declined by 69%.
