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 Thursday slipped for the second straight sessions to sub-8,900 levels, mainly on selling pressure in real estate and banking counters.
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.
The Qatar Stock Exchange was back in the negative trajectory mainly on heightened profit-booking by domestic institutions.