Doha: Middle East stock markets slid yesterday as a heightened threat of conflict between Ukraine and Russia triggered widespread selling, despite the benefit of higher oil prices to Gulf energy exporters.
Qatar Exchange ended in the red area when trading closed at 11,664.02 points, down 0.92 percent, or 107.81 points, from the previous closing of 11,771.83 points. The volume of shares was fell to 14,463,302 from 15,455,467 and the value of shares decreased to QR739,005,511.61 from QR797,583,771.65.
Among the top losers were Industries Qatar, whose shares down 1.73 percent to QR192.60, Commercial Bank lost 1.16 percent to QR77.00, Electricity and Water fell 2.93 percent to QR168.90 and Doha Insurance decreased by 2.02 percent to QR24.20.
Elsewhere, Cairo’s benchmark index slid 2.7 percent, down for a second straight session from last week’s 65-month high to trim its 2014 gains to 15.9 percent.
Saudi Arabia’s bourse, whose heavyweight petrochemical firms stand to benefit the most from any surge in oil prices, slipped 0.8 percent.
Dubai’s index lost 1.9 percent to trim its 2014 gains to 21.8 percent as it slumped to a two-week low. Abu Dhabi’s measure dropped 1.8 percent.
Kuwait’s bourse tumbled 1.9 percent to a five-month low to end at 7,494 points, below technical support at the December low of 7,501 points; any close below that level on Tuesday would confirm a break, leaving no major chart support before the September 2013 low of 7,132 points. Agencies
