Qatar: Extraneous factors weigh on QSE as index tanks 184 points

Qatar: Extraneous factors weigh on QSE as index tanks 184 points

Qatar - Reflecting the lower oil prices and apprehensions on Chinese economic data, the Qatar Stock Exchange (QSE) on Tuesday witnessed a huge 184 points plunge in key index and QR10bn in capitalisation.

An across the board selling – particularly in the real estate, industrials and consumer goods –led the 20-stock Qatar Index to drop 1.78% to 10,154.81 points.

The domestic institutions turned bearish in the main market, which however touched an intraday high 10,362 points.

About 74% of the traded constituents were in the red in the main bourse, whose year-to-date losses widened further to 4.93%.

The foreign individuals were seen net sellers in the main bourse, whose capitalisation tanked 1.66% to QR604.28bn, mainly on account of large and midcap segments.

The Gulf institutions were also seen as net profit takers in the main bourse, which saw a total of 0.14mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.39mn changed hands across 20 deals.

The Gulf retail investors turned net sellers, albeit at lower levels, in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.

The Total Return