Qatar Stock Exchange witnessed gains to be the second best performing among the Gulf bourses during the week, which saw oil producers’ “exceptional” decision to cut production in the wake of global supply glut.
The Qatar Stock Exchange’s trade turnover and volumes rose substantially, but overall it remained under the bearish spell for the second day on Thursday.
Qatar Stock Exchange on Wednesday remained under bearish spell, albeit at lower levels, for the second day, amidst substantial weakening of buying interests of foreign institutions.
Investors’ penchant for Islamic stocks notwithstanding, Qatar Stock Exchange witnessed profit booking and its key index retreated below the 10,500 mark, after gaining in the previous three consecutive sessions.
Increased buying support from foreign institutions on Monday added 75 points to lift the Qatar Stock Exchange above the 10,500 mark.
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.
Qatar Stock Exchange (QSE) witnessed three-digit points decline, making it the second worst performer among the Gulf bourses during the week, which otherwise saw FTSE Russell include 22 local stocks in its global secondary emerging market index and the US Federal Reserve maintaining status quo on it
The Qatar Stock Exchange gained 160 points to settle above the 10,400 mark, mainly on buying interests of foreign and Gulf institutions.
Notwithstanding stronger buying in the telecom and transport counters, Qatar Stock Exchange on Wednesday settled in the negative turf amidst shrinking trade turnover and volumes.
Foreign funds’ inflow, owing to FTSE inclusion of 22 local equities in its secondary emerging market indices, lifted the Qatar Stock Exchange on Tuesday.
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.
Foreign institutions turned extremely bullish on the Qatar Stock Exchange, which reopened on Sunday after a week-long Eid holidays but rose only by 38 points.
