Real estate and industrials stocks drove the Qatar Stock Exchange below the 10,400 mark.
Industrials and real estate stocks witnessed higher profit booking pressure to drive the Qatar Stock Exchange down 28 points; but overall it managed to stay above the 10,400 mark.
Close on the heels of a government-backed real estate development announcing reduction in the rents of some of their commercial properties, requests for such cuts have been aired by retail establishments elsewhere in Doha.
The Qatar Stock Exchange on Sunday opened the week on a strong note as its key index gained 23 points, mainly lifted by industrials and real estate stocks.
Ahead of FTSE Russell inclusion of some local entities and the US Fed meet to discuss rate policy, Qatar Stock Exchange on Monday witnessed QR20bn erosion in capitalisation and a huge 420 points plunge in its key barometer.
Ahead of Eid al-Adha holidays, the Qatar Stock Exchange on Thursday witnessed higher trading turnover and volumes but its key benchmark lost 100 points to settle below the 10,600 mark.
Farglory Land has resumed work on a delayed $1bn real estate project in Abu Dhabi and now expects to complete the development's first phase in 2018, two years later than originally planned.
Rents of different types of residential units in the country are stabilising or even declining in many cases, Gulf Times has learnt from industry insiders.
Snapping three days of bearish spell, the Qatar Stock Exchange on Tuesday gained 52 points to inch near the 9,800 mark, mainly on the back of buying support from domestic, Gulf and foreign institutions.
Qatar Stock Exchange on Tuesday vaulted 219 points to inch near the 9,900 mark, reflecting the trajectory of global oil price, which stood near eight-month high of more than $51 a barrel.
Snapping three consecutive days of bearish run, the Qatar Stock Exchange on Monday saw its index gain marginally to inch near the 9,700 mark, mainly on foreign institutions’ buying support.
Barwa Real Estate Group has signed financing agreements with a local Qatari bank worth QR4.12bn for a term of nine years.
