The Middle East institutional investors’ reported strategy to pare their exposure in the Qatari stocks had an overarching influence on the Qatar Stock Exchange, which lost a sizeable 204 points in key index and QR12bn in capitalisation during the week.
Stronger buying from foreign institutions and retail investors lifted confidence in the Qatar Stock Exchange (QSE), which saw its index gain 190 points and capitalisation expand QR10bn during the week.
Buying support from local, Gulf and non-Qatari individual investors on Monday extended the bullish run in the Qatar Stock Exchange for the second day and its key index surpassed the 10,600 levels.
An across the board selling, with more than 91% of the traded stocks in the red, led the Qatar Stock Exchange (QSE) traverse through negative terrain and capitalisation erode QR20bn in a week that otherwise saw global oil markets largely remain range bound.
Qatar Stock Exchange (QSE) saw bullish spell in three of the five days, yet it closed the week in the negative, becoming the third worst performer among the Gulf bourses.
Reversing the two-day bearish trend brought about by the US Federal Reserve’s 0.25% hike in rates, Qatar Stock Exchange on Monday opened the week on a stronger footing and its key index gained 48 points, taking cue from the 2017 Budget.
Notwithstanding the 0.25% cut by the US Federal Reserve, Qatar Stock Exchange (QSE) emerged the best performer among the Gulf bourses during the week.
Taking cue from the rebound in global oil market, Qatar Stock Exchange on Monday gained 141points for the fifth consecutive session to surpass the 10,300 mark with ease.