A substantially higher profit booking, especially by domestic institutions, led the Qatar Stock Exchange lose 144 points in its key index and QR1bn in capitalisation last week, which saw Masraf Al Rayan, Barwa Bank and International Bank of Qatar call off their three-way merger proposal.
The Qatar Stock Exchange on Monday witnessed substantially stronger buying by foreign institutions, even as the key barometer was in the negative trajectory for the third straight session.
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 Sunday crossed the 9,100 levels mainly on the back on strong buying in industrials, telecom and real estate scrips.
Three of the five days witnessed selling pressure on the Qatar Stock Exchange, which shed 109 points but to settle above 9,000 points this week.
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.
Higher foreign ownership limits and buoyancy in the first quarter financials had their way in lifting the Qatar Stock Exchange to near-9,200 levels and add capitalisation more than QR20bn this week.
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.