QSE as index falls 68 points; M-cap erodes QR3.63bn

QSE as index falls 68 points; M-cap erodes QR3.63bn

The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index lost 0.69% to 9,853.16 points Tuesday, having touched an intraday high of 9,940 points

Reflecting the Federal Reserve rate cut concerns after a stronger than expected retail push in the US and the rising geopolitical tensions, the Qatar Stock Exchange (QSE) Tuesday fellmore than 68 points, mainly dragged by transport and industrials sectors.The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index lost 0.69% to 9,853.16 points, having touched an intraday high of 9,940 points.The domestic institutions were also increasingly net profit takers in the main market, whose year-to-date losses widened to 9.03%.As much as 70% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.63bn or 0.63% to QR571.79bn on account of midcap segments.The Gulf institutions’ lower net buying interests had its influence in the main market, which saw as many as 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn trade across nine deals.The Arab retail investors’ weakened net buying had its say in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were