Qatar: Domestic funds’ net selling drag QSE 73 points

Qatar: Domestic funds’ net selling drag QSE 73 points

The Qatar Stock Exchange Sunday opened the week weak with its key index losing 73 points, dragged mainly by the transport and banking sectors.

The domestic institutions turned net sellers as the 20-stock Qatar Index shed 0.68% to 10,669.16 points.

The market, which was skewed towards decliners, had however touched an intraday high of 10,790 points.

The Arab retail investors were increasingly net profit takers in the main market, which reported year-to-date losses of 0.11%.

The Gulf individuals were seen bearish in the main bourse, whose capitalisation shrank QR1.52bn or 0.24% to QR627.49bn, mainly on account of microcap segments.

However, the foreign institutions turned bullish in the main market, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.32mn changed hands across 10 deals.

The Gulf funds were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen declining slower than the main index in the main market, which saw no trading of treasury bills.

The Total Return Index lot 0.68%, All Share Index by 0.53% and Al Rayan Islamic Index (Price) by 0.57% in the main bourse, whose trade turnover and volumes were on the increase.

The transport sector