QSE edges lower on Gulf funds’ net selling; M-cap almost flat

QSE edges lower on Gulf funds’ net selling; M-cap almost flat







The Qatar Stock Exchange yesterday lost more than 15 points as the transport counter witnessed higher than average selling pressure.The Gulf institutions were increasingly net sellers as the 20-stock Qatar Index was down 0.15% to 9,991.81 points, with investors remaining cautious ahead of a crucial meeting of the oil grouping to decide on the output.The foreign retail investors turned bearish in the main market, whose year-to-date losses widened further to 6.45%.More than 54% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0.08bn or 0.01% to QR585.41bn with microcap segments losing the most.The Gulf individuals were increasingly net profit takers in the main market, which touched an intraday high of 10,002 points.The Arab retail investors’ weakened net buying had its influence in the main bourse, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.03mn trade across three deals.However, the foreign institutions were increasingly net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining