Foreign funds turn bearish as Qatar Stock Exchange key index falls 60 points

Foreign funds turn bearish as Qatar Stock Exchange key index falls 60 points

Snapping three days of bullish momentum, the Qatar Stock Exchange (QSE) Monday fell 60 points on selling pressure, notably in the industrials, real estate, consumer goods and

banking sectors. The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.58% to 10,181.27 points, reflecting the caution seen in the Gulf shores ahead of the release of minutes from the US Federal Reserve's latest meeting. The Arab retail investors turned bearish in the main market, whose year-to-date losses widened to 4.68%. About 74% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR4.39bn or 0.73% to QR594.37bn with mid and microcap segments losing the most. However, the domestic institutions were seen increasingly into net selling in the main market, which regained from an intraday low of 10,157 points. The local individuals turned net buyers in the main bourse, which saw as many as 8,765 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.02mn trade across four deals. The Gulf individuals were marginally bullish in the main market, which saw no trading of sovereign bonds and treasury bills. The Islamic index was seen declining slower than the other indices in