Qatar: Domestic funds’ selling pressure drags QSE 39 points

Qatar: Domestic funds’ selling pressure drags QSE 39 points

The Qatar Stock Exchange Thursday fell more than 39 points on the back of selling pressure, mainly in the telecom and insurance counters.

The domestic institutions were seen net sellers as the 20-stock Qatar Index shed 0.38% to 10,257.21 points.

The Gulf retail investors were seen bearish, albeit at lower levels, in the main market, which had touched an intraday high of 10,315 points.

The foreign individuals’ weakened net buying had its influence on the main bourse, whose year-to-date losses were at 3.97%.

However, the local retail investors were increasingly net buyers in the main bourse, whose capitalisation declined QR1.59bn or 0.26% to QR607.4bn, mainly on account of small cap segments.

The Arab institutions continued to be increasingly bullish on the main bourse, which saw a total of 10,434 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn changed hands across seven deals.

The Arab retail investors continued to be profit takers but with lesser intensity in the main market, which saw no trading of sovereign bonds.

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

The Total Return Index shed 0.38%, the All Share Index by 0.35% and the