Shares in Doha Bank drop 2.6 percent in November following MSCI decision, despite late rebound | ZAWYA MENA Edition

Shares in Doha Bank drop 2.6 percent in November following MSCI decision, despite late rebound | ZAWYA MENA Edition:

Shares in Doha Bank, Qatar’s fifth-biggest lender, have dropped 2.6 percent during the month of November, as index compiler MSCI moved the stock its small cap index.



“Doha Bank’s removal from MSCI EM triggered more than QAR300m of selling by index-related investors and has unsurprisingly pressured the stock,” Akber Khan, senior director of asset management at Al Rayan Investment, told Zawya by email. 


Index compiler MSCI announced the results of its 2018 semi-annual index review on November 13, which saw Doha Bank removed from the MSCI Qatar Index and moved to a small cap index.