Global concerns weigh on QSE sentiments; M-cap erodes QR16bn

Global concerns weigh on QSE sentiments; M-cap erodes QR16bn

Global concerns on growth owing to further hardening US Fed rates weighed on the Qatar Stock Exchange, which closed the week weak.

The banking counter witnessed higher than average selling pressure as the 20-stock Qatar Index plunged 1.94% this week which saw the global index compiler FTSE Russell include Milaha under its large cap global equity series, effective from the close of September 15, 2022.

More than 57% of the traded constituents were in the red this week which saw a Kamco Invest report that said the average share of bad loans to banks' total loan book stood at 2.7% in Qatar during the second quarter of 2022, which is lower than the Gulf average of 3.4%.

The foreign institutions’ net buying weakened considerably this week which saw Aamal Company shareholders approve a higher up to 100% foreign ownership limit.

The foreign individuals were increasingly net profit takers this week which saw Widam, the main supplier of meat and livestock in the country, sign an agreement Cairo-based Frigo Trading Company for the supply of beef meat.

The domestic institutions’ net selling shrank this week which saw a total of 0.09mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.26mn trade across 28 deals.

The Gulf funds’