Santhosh V. Perumal

An across-the-board selling pressure – especially within the real estate, industrials, telecom and consumer goods – on Monday weakened the Qatar Stock Exchange further to settle below 10,400 levels.

Qatar witnessed a sharp 11% year-on-year decline in the number of building permits issued in May, according to official statistics.

Industrials and telecom equities on Sunday extended the bearish spell on the Qatar Stock Exchange to the second straight session as its key index fell below 10,500 levels.

Qatar International Court and Dispute Resolution Center (QICDRC) on Sunday entered into a pact with a World Bank body as part of plans to enhance its profile in the global judicial system and establish itself as a hub for dispute resolution.

The Qatar Stock Exchange had witnessed its key index break 10,600 points intraweek although it settled below that level, amidst stock split implementation by banking and financial services segment.

Snapping three days of bullish run, the Qatar Stock Exchange on Thursday closed the week weak with its key index shedding 106 points to settle well below 10,600 levels.

Qatar's cost of living, based on consumer price index (CPI), was on the decline in May 2019, both year-on-year and month-on-month, as prices for as many as 500 items were reduced in view of Ramadan.

The Qatar Stock Exchange on Wednesday crossed the 10,600 levels mainly on the back of strong buying, especially in the banking, industrials and telecom equities.