Qatar: QSE loses steam as index eases 20 points on foreign funds’ selling pressure

Qatar: QSE loses steam as index eases 20 points on foreign funds’ selling pressure

The Qatar Stock Exchange Thursday fell more than 20 points on the back of selling pressure especially in the consumer goods and banking sectors.

The foreign institutions were increasingly net sellers as the 20-stock Qatar Index shed 0.2% to 10,271.46 points.

The Arab individuals were seen increasingly into net profit booking in the main market, which however regained from an intraday low of 10,218 points.

More than 55% of the traded constituents were in the red in the main market, whose year-to-date losses increased to 3.83%.

The foreign retail investors turned bearish in the main bourse, whose capitalisation however was up QR0.59bn or 0.1% to QR611.44bn, mainly on account of microcap segments.

However, the domestic institutions were increasingly net buyers in the main market, which saw a total of 13,644 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.08mn changed hands across eight deals.

The Gulf funds were increasingly bullish in the main market, which saw no trading of sovereign bonds.

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

The Total Return Index was down 0.2%, All Share Index by 0.21% and Al Rayan Islamic