MSCI snub causes Qatari stock market dive

MSCI snub causes Qatari stock market dive

Qatar’s stock market dived after MSCI excluded two of its major stocks in a semi-annual index review. The index in Qatar dropped 1.1 percent.

Qatar Fuel Co was the biggest drag on the index, falling by its 10 percent daily limit, while Mesaieed Petrochemical was down 1.5 percent. MSCI decided, against market expectations, not to include both stocks in its global indexes.

Doha Bank lost 6.3 percent after MSCI moved it to a small cap index from the Qatar standard index, effective at the end of this month.

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