Qatar Stock Exchange plunged 167 points to settle below the 10,300 mark on domestic institutions’ net selling and their foreign counterparts’ lower penchant for buying.
Qatar Stock Exchange on Wednesday failed to break the 10,500 resistance level as its key index lost 38 points, mainly dragged by real estate and banking stocks.
Qatar Stock Exchange on Tuesday gained for the second day by another 45 points to inch near the 10,500 mark, mainly lifted by robust buying in the consumer goods and transport stocks.
Stronger buying – especially in insurance, real estate, consumer goods and telecom stocks –helped Qatar Stock Exchange gain 30 points to inch near the 10,450 mark.
Qatar Stock Exchange witnessed corrections, especially in the insurance, real estate and telecom sectors, and its key index settled a marginal 11 points lower.
Qatar Stock Exchange (QSE), which witnessed weak sentiments during the first three days of the week, later on gained on renewed hopes of production freeze, which sent global oil prices above $41 a barrel.
Qatar Stock Exchange on Thursday gained a huge 135 points to surpass the 10,400 level with an ease on euphoria over next month’s meeting of oil producers.
Producers’ meeting in Doha next month brightened sentiments in the global energy front to instil a positive effect on the Qatar Stock Exchange, which gained 91 points to inch near the 10,300 level.
A sustained weakness in the oil market, where prices now trade around $38 a barrel, has hit sentiments in the Qatar Stock Exchange, which on Tuesday plunged 118 points to settle below the 10,200 mark.
Qatar Stock Exchange on Monday edged down marginally despite strong buying interests from foreign institutions.
The Qatar Stock Exchange opened the week on a weak note with its key index losing 59 points mainly on increased net profit-booking by domestic institutions.
Oil price rebound to above $40 a barrel had its reflection in the Qatar Stock Exchange (QSE), which was the second best performer within the Gulf bourses during the week.
