Foreign funds’ net selling pressure drags Qatar Stock Exchange 69 points

Foreign funds’ net selling pressure drags Qatar Stock Exchange 69 points

The Qatar Stock Exchange (QSE) yesterday lost more than 69 points and its key index fell below 9,800 levels on the back of selling pressure, especially in the banking sector.

The foreign institutions turned net profit takers as the 20-stock Qatar Index shed 0.7% to 9,778.87 points

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The Gulf retail investors were net sellers, albeit at lower levels, in the main market, whose year-to-date losses widened further to 8.45%.

About 64% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR4.14bn or 0.72% to QR573.25bn with small cap segments losing the most.

The local retail investors’ weakened net buying had its influence on the main market, which touched an intraday high of 9,879 points.

The domestic institutions’ lower net buying also had its say in the main bourse, which saw as many as 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.22mn trade across 27 deals.

The Arab individuals’ weakened net buying was visible in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen declining slower than the other indices in the main bourse, which witnessed no trading of treasury bills.

The Total Return Index lost 0.7%, the All Islamic