Qatar: QSE sentiments weaken amidst US debt ceiling concerns

Qatar: QSE sentiments weaken amidst US debt ceiling concerns

The Qatar Stock Exchange (QSE) remained under bearish spell this week which otherwise saw mixed trends in the global markets amidst the concerns over the US debt ceiling.

The foreign institutions were increasingly net profit takers as the 20-stock Qatar Index lost 0.91% or 98 points this week which saw MSCI include Dukhan Bank under Qatar’s midcap index.

The Arab individuals turned net profit takers this week which saw MSCI reclassify Masraf Al Rayan and Mesaieed Petrochemical Holding under midcap from large cap segment.

About 56% of the traded constituents were in the red this week which saw Doha Bank restructure operations in Abu Dhabi by merging its operations with Dubai branch.

The Islamic equities were seen declining faster than the other indices this week which saw Nakilat liquefied natural gas carriers deliver 198 cargoes of estimated volume of 20.3mn metric tonnes with 100% reliability.

The transport, real estate, consumer goods and insurance counters witnessed higher than average selling pressure this week which saw Aamal Company to expand its exports to wider region, including Asia.

The Gulf institutions’ weakened net buying had its influence in the main market this week which saw Qatar’s consumer price index inflation fall 0.03% month-on-month in April 2023.

The domestic institutions continued