An across-the-board selling – notably within banking and telecom sectors – led the Qatar Stock Exchange to close in the negative on Thursday.
The Qatar Stock Exchange on Wednesday witnessed mild profit-booking pressures, after a two-day bull run, to slide below 10,600 levels, mainly dragged by banking and telecom equities.
The Qatar Stock Exchange on Thursday inched near 10,400 levels, having gained 35 points mainly on the back of strong buying in telecom segment.
Profit booking pressure in the telecom and banking sectors on Thursday further dragged the Qatar Stock Exchange to make it settle below 9,800 levels.
Strong buying interests of foreign institutions helped the Qatar Stock Exchange comfortably settle above 10,000 levels this week.
The Qatar Stock Exchange on Thursday continued to remain under bearish spell mainly on increased net selling by local retail investors and foreign funds’ bearish outlook.
The Qatar Stock Exchange largely remained flat on Wednesday despite strong buying interests in the Islamic equities.
Strong buying interests of foreign institutions on Monday imparted sufficient thrust to the Qatar Stock Exchange, whose key sensitive index surpassed 9,400 levels.
The Qatar Stock Exchange saw six of the seven sectors under bearish spell, yet it settled in the positive terrain on Sunday.
Islamic stocks were seen outperforming conventional ones this week in the Qatar Stock Exchange (QSE) which added a huge 235 points to its key index and more than QR10bn to capitalisation.