DOHA: Breaking its bull run, Qatar Exchange yesterday witnessed a minor correction. The 20-stock index dropped 119.68 points or 1.20 percent to close at 9,886.68 despite buying pressure from Qatari individual investors. All the sector indices, except transportation, ended in red a day after the index breached the 10,000 mark resistance level.
The volume of shares traded fell to 6.7m from Wednesday’s 7.3m. The trading value also decreased to QR262m from 320m.
Among the top losers were Qatar National Bank (QNB), Industries Qatar (IQ), Barwa Real Estate and Masraf Al Rayan. QNB dropped 2.06 percent to QR176 and IQ lost 2.03 percent to QR159.10. Barwa fell 0.92 percent to QR24.87 and Masraf Al Rayan was down 1.65 percent to QR29.75.
Banks and financial sector index lost 1.44 percent yesterday while the telecom fell 1.76 percent. The industrials and real estate sector dropped 1.17 percent and 1.22 percent respectively. Insurance index fell 0.48 percent and services dropped 0.90 percent. Transportation rose 0.61 percent.
Meanwhile, the Index gained 39.06 points or 0.40 percent this week, when the market closed yesterday after three days of trading. Trading value during the week dropped by 13.42 percent to reach QR900m compared to previous week’s 1.04bn.
Trading volume decreased by 9.17 percent to cross 19.7m shares, as against 21.7m as the number of transactions fell by 16.97 percent to reach 11,015 transactions as compared to 13,267 transactions.
Market capitalisation rose by 0.39 percent to reach QR541.42bn as compared to QR539.34bn at the end of the previous week. The Banks and Financial Services sector led trading value during this week accounting for 30.58 percent of the total trading value. While the industrials sector accounted for 25.73 percent, the consumer goods and services sector accounted for 14.34 percent of the week’s total trading value.
The banks and financial services sector led trading volume, accounting for 28.42 percent. Of the total trading volume of the week, transportation sector accounted for 26.03 percent and the industrial sector accounted for 15.23 percent.
The banks and financial services also led the trading number during the week, accounting for 31.76 percent of the total number of transactions. It was followed by the industrial sector (22.91 percent), transportation sector (14.54 percent) and consumer goods and services sector (13.74 percent).
Of the 42 listed companies 21 ended this week higher, while 19 fell and 2 remained unchanged.
The Industries Qatar led trading value during this week accounting for 15.95 percent of the total value, followed by Qatar gas Transport, which accounted for 10.17 percent. The QNB accounted for 7.36 percent.