The Gulf institutions bearish outlook and substantially weakened net buying interests of foreign funds on Wednesday steered the Qatar Stock Exchange onto the negative turf.
An across-the-board buying — especially in banking and telecom — on Tuesday lifted the Qatar Stock Exchange whose key barometer inched towards 9,400 levels and capitalisation gained more than QR7bn.
The Qatar Stock Exchange on Wednesday snapped two days of bearish run to settle 33 points higher, mainly on foreign institutions’ buying interests.
An across-the-board selling — particularly in insurance, real estate and telecom — on Tuesday further dragged the Qatar Stock Exchange below 8,900 levels.
Foreign institutions’ substantially stronger buying interests on Monday lifted the Qatar Stock Exchange above 9,100 levels and capitalisation expanded more than QR11bn.
The Qatar Stock Exchange on Sunday opened the week on a stronger note, mainly on the back of strong buying interests in transport, insurance and consumer goods.
The Qatar Stock Exchange on Thursday slipped for the second straight sessions to sub-8,900 levels, mainly on selling pressure in real estate and banking counters.
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.
Strong selling, especially in the industrials and transport counters, notwithstanding, the Qatar Stock Exchange on Tuesday remained flat, a day after it made a huge leap.
The Qatar Stock Exchange on Thursday witnessed its key index surpass 9,000 levels and capitalisation top QR500bn mainly on foreign institutions’ renewed buying interests.