Foreign and Gulf funds steer QSE to negative trajectory; M-cap melts QR2.91bn

Foreign and Gulf funds steer QSE to negative trajectory; M-cap melts QR2.91bn



The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.71% to 9,794.48 points on Tuesday, although it touched an intraday high of 9,882 points

The Qatar Stock Exchange (QSE) yesterday lost about 70 points on profit booking pressure, especially in the banks and financial services sector.

The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.71% to 9,794.48 points, although it touched an intraday high of 9,882 points.

The Gulf institutions were also increasingly bearish in the main market, whose year-to-date losses widened to 9.57%.

The domestic institutions’ weakened net buying had its influence in the main bourse, whose capitalisation melted QR2.91bn or 0.51% to QR569.32bn with small and microcap segments leading the pack of gainers.

The Arab retail investors were increasingly into net selling in the main market, which saw as many as 459 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1,217 trade across five deals.

However, the local retail investors were seen bullish in the main bourse, which saw no trading of sovereign bonds and treasury bills.

The Total Return Index declined 0.38% and the All Share Index by 0.36%, while the All Islamic Index