Fed rate concerns weigh on QSE as index plummets 127 points; M-cap erodes QR6.73bn| Gulf Times – Gulf Times

Fed rate concerns weigh on QSE as index plummets 127 points; M-cap erodes QR6.73bn| Gulf Times – Gulf Times

Geopolitical tension in the region and uncertainties surrounding the US Federal Reserve's monetary policy played spoilsport in the Qatar Stock Exchange (QSE), which on Mondayplummeted more than 127 points and capitalisation eroded as much as QR6.73bn.The banks and consumer goods counters witnessed higher than average net profit booking as the 20-stock Qatar Index fell 1.3% to 9,664.86 points, although it touched an intraday high of 9,816 points.The domestic institutions were seen increasingly into net selling in the main market, whose year-to-date losses widened to 10.76%.About 71% of the traded constituents were in the red in the main bourse, whose capitalisation melted 1.18% to QR561.7bn on account of large and small cap segments.The foreign funds were seen increasingly bearish in the main market, which saw as many as 2,783 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn trade across five deals.The Gulf institutions turned net profit takers in the main bourse, which saw no trading of sovereign bonds.However, the local retail investors were increasingly net buyers in the main market, which saw no trading of treasury bills.Both Arab and foreign individuals were increasingly bullish in the main bourse, which saw Islamic stock fall slower than