Trade turnover and volumes were on the decline in the Qatar Stock Exchange but overall its key index added another 33 points for the second day to inch near the 9,800 mark, mainly on domestic institutions’ buying support.
Islamic stocks surged about 2% in an otherwise flat trajectory on the Qatar Stock Exchange during the week, which saw Gulf bourses by and large discount the US election results.
The Qatar Stock Exchange saw gains in about 67% of the traded stocks, mostly small and midcaps with Islamic equities outshining, but overall its key barometer largely remained flat.
Gains on the last day notwithstanding, more than 61% of the stocks were in the red, leading the Qatar Stock Exchange (QSE) traverse through a negative trajectory during the week, apparently reflecting the weak sentiments on corporate results.
Stronger net selling by domestic institutions extended the bearish spell on the Qatar Stock Exchange to the second day as its key index fell below the 10,400 mark.
An “exceptional” cut in production by oil producers last week, after an eight-year hiatus, appears not to have enthused sentiments in the Qatar Stock Exchange
Foreign funds’ inflow, owing to FTSE inclusion of 22 local equities in its secondary emerging market indices, lifted the Qatar Stock Exchange on Tuesday.
The Qatar Stock Exchange suffered its largest one-day loss since January this year and its key index sunk below 11,000 points and capitalisation eroded QR16bn as domestic and Gulf institutions hurriedly squared off their positions.
Qatar Stock Exchange on Sunday opened the week on a stronger note and its key index inched near the 11,200 mark, mainly lifted by banking and industrials segments.
The Qatar Stock Exchange was back in the negative turf on Thursday as its key index lost 51 points, mainly dragged by an across-the-board selling, particularly in industrials, insurance and banking stocks.
The Qatar Stock Exchange on Wednesday gained 70 points to inch near the 11,200 mark on an across-the-board buying. The Qatar Index rose 0.63% to 11,186.14 points on increased trading turnover amidst declining volumes.
An across-the-board selling — particularly in transport, telecom and realty stocks — on Tuesday led the Qatar Stock Exchange to retreat below the 11,200 mark, reflecting the weak sentiments in the global oil prices.
