Doha: Qatar Stock Exchange index dropped 270.62 points, or 1.96 percent when the bourse closed at 13,528.67 points yesterday as weak oil prices sparked a sell-off in Gulf markets.
The traded value, however, increased QR814m from QR496m on Tuesday. The traded volume rose to 11.48 million shares from 6,594 transactions compared to 11.37 million shares from 5,550 transactions on Tuesday. The market capitalisation declined to QR730bn from QR745bn registered on Tuesday.
All indices ended in the red zone yesterday. Telecoms index continued its slide, losing the most when it closed the day down 2.41 percent to 1,527.75 points from Tuesday’s 1,565.44 points.
Banks and financial sector index dropped 2.35 percent to 3,372.38 points. Real estate index slipped 1.68 percent to 2,708.52 points, industries dropped 1.43 percent to 4,517.28 points, consumer goods and services dropped by 0.82 percent to 7,253.42 points and transport dipped 0.79 percent to 2,373.38 points. From the 43 listed companies, seven advanced, 35 declined and one remained unchanged.
Elsewhere in the region, Saudi Arabia’s stock index slumped to a three-week low yesterday. The Saudi benchmark ended down 1.6 percent at 9,629 points, although late buying helped it rebound from an intra-day low of 9,436.
“Regional markets are following what’s going on in the major markets, except that in recent days they have underperformed due to the weakness in oil prices,” said Sanyalaksna Manibhandu, manager of research at NBAD Securities in Abu Dhabi.
Abu Dhabi’s index has lost 2.4 percent over the same period.
Dubai’s index fell 3.3 percent to a two-week low of 4,401 points, trimming its 2014 gains to 30.6 percent. It surged 108 percent in 2013.
QNA/Reuters
