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Qatar Stock Exchange gains 199 points on Emiri decree

The Qatar Stock Exchange collected 199 points during the week that saw an Emiri decree allowing higher 49% foreign ownership limit in the listed companies, Gulf Times reported Foreign institutions reportedly net bought QR143mn worth of stocks, which helped lift the market during the week which saw a report that the banks and financial services sector witnessed marginal erosion in their net profitability during the first half of this year. Overall, the market witnessed bullish momentum with the key index touching a high of near-13,200 levels before settling at a tad below 13,100 mark during the week that featured Qatar Insurance Company ink pact with Ogier Fiduciary Services’ Performance and Reward Management team for creating a share plan which helps motivate, retain and incentivise QIC employees by enhancing their benefits package.