Reversing a four-day bearish trend, the Qatar Stock Exchange gained a robust 171 points to surpass the 10,300 mark, mainly on sustained buying interests from foreign and Gulf institutions.
The Qatar Stock Exchange opened the week weak as its key index lost 56 points to settle below the 10,250 mark; mainly dragged by insurance stocks.
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.
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.
The Qatar Stock Exchange largely remained flat despite buying support from foreign retail investors and lower selling pressure from domestic and Gulf institutions.
