FINANCIAL NEWS

Qatar shares decline on fears of tough fiscal measures

14 Nov 2015

(MENAFN) The Qatar Stock Exchange on Thursday witnessed a 23-point decline to remain under the 10,900 mark mainly owing to foreign institutions’ increased net profit-booking.

Selling pressure, especially in the real estate and consumer goods sectors, led the 20-stock Qatar Index to slide 0.21% to 10,830.33 points, apparently reflecting nervousness in view of the need for tough fiscal measures amid lower oil prices and expectations on a US interest rate hike in December.

Weak buying sentiments among the local and Gulf individual investors were also instrumental for an overall bearish run on the market, which is down 11.85% year-to-date, making it the worst performer among the Gulf peers.

Islamic stocks were seen the hardest hit on the bourse, where trading was largely skewed towards the banking, telecom, industrials and realty sectors, which together constituted more than 82% of the volume.

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