The Qatar Stock Exchange lost a sizeable 366 points in its key barometer and QR20bn in capitalisation as dividend woes had cast its spell this week.
The Qatar Stock Exchange on Thursday reversed a five-day bearish spell to gain 77 points and settle near 8,700 points mainly on strong demand at the consumer goods, transport, industrials and real estate counters.
Foreign institutions’ strong profit booking pressure on Wednesday dragged Qatar Stock Exchange for the fifth straight session by a huge 277 points to settle below 8,700 levels.
Vodafone Qatar on Tuesday almost touched the upper 10% circuit filter in an otherwise bearish Qatar Stock Exchange, which continued to remain at sub-9,000 levels for the second straight session.
An across-the-board buying on Wednesday gave a huge 236 points thrust to the Qatar Stock Exchange, which overcame the three days of bearish spell to settle near 8,900 levels.
Qatar Stock Exchange on Thursday largely treaded a flat course despite strong buying at the transport, consumer goods, banking and telecom counters.
Foreign funds’ bullish outlook on Monday steered the Qatar Stock Exchange back onto the positive trajectory as capitalisation touched QR516bn.
An across-the-board buying — particularly in the insurance and real estate — lifted the Qatar Stock Exchange (QSE) above 9,100 levels and market capitalisation exceeded QR500bn this week.