Insurance, telecom and industrials counters witnessed stronger demand to lift the 20-stock Qatar Index 0.48% to 10,405.2 points, reflecting the rebound in the global oil market.
The Qatar Stock Exchange on Sunday edged down two points, despite stronger selling in the insurance, industrials and telecom counters.
Increased buying support from foreign institutions on Monday added 75 points to lift the Qatar Stock Exchange above the 10,500 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.
Foreign institutions’ robust buying on Tuesday drove the Qatar Stock Exchange to above 11,300 levels. The 20-stock Qatar Index gained 0.47% or 53 points to 11,314.55 points.
The Qatar Stock Exchange was back in the negative turf on Thursday as its key index lost 51 points, mainly dragged by an across-the-board selling, particularly in industrials, insurance and banking stocks.
A Vietnamese woman paid a friend to cut off her hand and foot in a bid to claim a handsome insurance payout, state-run media reported Thursday.
Qatar Stock Exchange on Wednesday surpassed the 9,900 mark, largely reflecting the positive sentiments in the global oil front where crude hit the eight-month high of more than $52 a barrel.
An across the board selling – particularly in telecom, insurance and banking counters –extended the bearish spell in Qatar Stock Exchange for the fourth consecutive day and its key index settled below the 9,800 mark.
The newly listed Qatar First Bank (QFB), which constituted more than one-third of total trading volume, witnessed decline in an otherwise bullish Qatar Stock Exchange, which gained 27 points on Thursday.
