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.
Qatar’s banks “remain healthy” overall as more than 80% of their non-performing loans are provisioned, the Qatar Central Bank has said in a recent report.
Aided by strong buying – especially in the telecom and transport stocks – Qatar Stock Exchange on Tuesday extended the bullish run to the second day and its key index gained another 26 points.
Large cap equities witnessed heavy offloading, which dragged the Qatar Stock Exchange (QSE) during the week, which also saw the advent of margin trading.
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.
The US green light for Boeing and Airbus sales to Iran has broken a taboo and opens the door to a potential boom in foreign financial dealings with Tehran, experts said.
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 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.
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.
Gulf institutions’ higher selling pressure and extremely weak buying support from their foreign counterparts on Wednesday led the Qatar Stock Exchange to lose another 78 points to settle below the 10,700 mark.
Domestic institutions turned increasingly net sellers on Monday to drive the Qatar Stock Exchange down 11 points as its key index failed to break the 10,900 resistance level.
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.
