QSE index settles 20 points lower on selling pressure

QSE index settles 20 points lower on selling pressure

The Qatar Stock Exchange (QSE) Tuesday declined 20 points on the back of selling pressure, especially in transport, telecom, industrials and insurance counters. The local retail investors were seen net profit takers as the 20-stock Qatar Index was down 0.2% to 10,007.21 points.The Gulf institutions turned bearish in the main market, whose year-to-date losses widened further to 6.31%.More than 55% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0.31bn or 0.05% to QR585.49bn with microcap segments losing the most.The domestic institutions’ weakened net buying had its influence in the main market, which however regained from an intraday low of 9,953 points.The foreign institutions were net seen net buyers in the main bourse, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.08mn trade across 12 deals.The Arab retail investors were increasingly net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, which witnessed no trading of treasury bills.The Total Return Index shed 0.2%, the All Islamic Index by 0.39% and the All Share Index by