DOHA: Qatar Exchange’s (QE) benchmark index shed 1.62 percent yesterday to hit its lowest since June levels and lost 4.31 percent last week.
All the sector indices ended in red yesterday extending the bearish spell to the fourth straight session. The worst performed sectors were the industrials, the telecoms and the banking and financial services. The industrial sector tumbled by 2.31 percent, while the telecom and banking sectors lost 1.99 percent and 1.52 percent respectively.
Among the top losers were Industries Qatar, QNB, Doha Bank and Islamic Insurance. IQ dropped 2.86 percent to QR146. QNB shed 2.07 percent to QR160.50. Islamic Insurance lost 2.70 percent to QR54. Doha Bank was down by 3.44 percent to QR50.60.
According to the QE’s weekly trading data, investors lost QR21bn last week. Market capitalisation fell by 4.01 percent last week to reach QR505bn as compared to QR526bn the previous week.
The benchmark index lost 414.12 points or 4.31 percent last week to close at 9,204.92 points. Trading value last week decreased by 37.48 percent to QR1.4bn compared to QR2.25bn the previous week. Trading volume also decreased by 33.92 percent to reach 37 million against the previous week’s 56 million. The number of transactions fell by 26.33 percent to reach 20,208 last week compared to 27,429.
The banking and financial services sector led trading value last week, accounting for 39.55 percent of the total, followed by the industrial sector, the consumer goods and services sector and the transportation sector respectively. The sector also led the trading volume accounting for 36.52 of the total. The real estate sector accounted for 20.31 percent.
The trading number was also led by the banking and financial services sector with 36.82 percent of the total number of transactions, followed by the industrials, which accounted for 18.77 percent. The real estate and consumer goods and services sectors accounted for 13.63 percent and 12.71 percent respectively.
Of the 42 companies listed, only two ended higher last week, 39 companies fell and one remained unchanged. Industries Qatar led trading value last week accounting for 15.54 percent of the total, followed by QNB which accounted for 11.80 percent. UDC accounted for 5.81 percent.