The Qatar Stock Exchange on Sunday opened the week weak despite strong buying interests in real estate, telecom and consumer goods sectors.
Foreign institutions continued to be net buyers, albeit with lesser vigour, as the Qatar Stock Exchange added 362 points and capitalisation gained QR20bn this week which saw the Qatar Financial Markets Authority come out with procedures to regulate stock split of listed firms.
Profit booking — especially in the industrials and real estate counters — dragged the Qatar Stock Exchange below 9,000 levels and capitalisation eroded more than QR9bn this week.
The Qatar Stock Exchange on Wednesday fell 211 points to settle below 9,000 levels as capitalisation lost QR11bn mainly on Gulf funds’ strong selling and substantially weakened net buying from their foreign counterparts.
The Qatar Stock Exchange on Sunday crossed the 9,100 levels mainly on the back on strong buying in industrials, telecom and real estate scrips.
The Qatar Stock Exchange on Sunday opened the week weak, after four consecutive days of bearish spell, mainly on substantially weakened buying interests of foreign and Gulf funds.
The Qatar Stock Exchange on Monday gained 155 points to surpass the 8,900 level with the Qatar Central Securities Depository allowing higher up to 49% foreign ownership limits in the energy related companies and in a Shariah-principled lender.
Increased buying support from foreign funds and local retail investors lifted the Qatar Stock Exchange by a huge 219 points to place its sensitive index near the 8,800 mark this week.
The Qatar Stock Exchange continued its upward rally for the second straight session on Monday as its key index surpassed 8,700 levels, mainly on the back of buying interests in foreign institutions.
Qatar Petroleum’s move to allow a higher, up to 49%, foreign ownership limits in its energy subsidiaries on Sunday lifted the sentiments on the Qatar Stock Exchange, which gained more than 1% to settle near 8,700 levels.
The Qatar Stock Exchange on Monday gained 87 points to inch near 8,900 levels and capitalisation add QR9bn mainly on strong buying interests in insurance, real estate, telecom and industrials counters.