DOHA: Profit-taking continued to pull Qatar stocks down on third consecutive session yesterday. The benchmark index shed 0.79 percent or 111 points to settle at 14,006.
Five sector indices ended red as two finished flat. Blue chips were the main drag. Banking major QNB shed 0.96 percent, while Industries Qatar slid 1.53 percent. Shares in Islamic lender Masraf Al Rayan fell 0.71 percent. Ezdan Holding, which will become part of the 20-stock benchmark from October 1, rose 1.69 percent. The bourse’s total traded value rose to QR628m from QR567m yesterday. Total traded volume decreased to 13 million from 16 million, down 18.7 percent.
Market experts contradicted on the extension of bear market. “Valuation is going on a premium rate”, said one analyst while another attributed ‘negative reports’ on World Cup to the pullback. The value of banking stocks rose to QR251m from the previous session’s QR216m. Industrials value soared to QR118m from QR77m, while the value of real estate stocks declined to QR127m from QR189m.
In the region, Dubai’s index rose 0.7 percent, while Egypt’s main index edged up 0.3 percent to a six-year high of 9,760 points.
The Peninsula
