Extraneous factors play spoilsport as Qatar Stock Exchange index loses 21 points

Extraneous factors play spoilsport as Qatar Stock Exchange index loses 21 points

Ahead of the US Federal Reserve meeting, the Qatar Stock Exchange (QSE) Wednesday extended its bearish run for the fifth straight session as its key index lost as much as 21 points and capitalisation melted in excess of QR2bn.

The transport, banking and consumer goods sectors witnessed higher than average selling as the 20-stock Qatar Index fell 0.2% to 10,089.2 points, also reflecting the geopolitical tensions.

The local retail investors were seen net profit takers in the main market, whose year-to-date losses widened further to 6.85%.

The Arab individuals’ weakened net buying had its influence on the main bourse, whose capitalisation melted QR2.02bn or 0.34% to QR587.61bn with microcap cap segments leading the pack of shakers.

The Gulf and foreign institutions continued to be net sellers but with lesser intensity in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn trade across seven deals.

The domestic funds were seen net buyers in the main bourse, which saw no trading of sovereign bonds.

The Islamic index made gains vis-à-vis decline in the other indices in the main market, which reported no trading of treasury bills.

The Total Return Index shed 0.21% and the All