Doha: Qatar Exchange ended in the red area when trading closed yesterday at 11,340.12 points , down 0.24 percent, or 27.19 points, from the previous closing of 11,367.31 points on Thursday.
The volume of shares was up at 11,707,429 from Thursday’s 10,251,389 and the value of shares decreased to QR440,316,298.89 from QR462,511,012.31.
Among the top losers were Doha Bank whose shares were down 1.54 percent to QR57.50, Barwa Real Estate lost 1.27 percent to QR34.85, Gulf International fell 1.90 percent to QR77.50 and General Insurance was down by 2.50 percent to QR39.
The banking and financial sector index was up 0.26 percent, while consumer goods and services sector index added 0.25 percent. The industrial sector was lost 0.51 percent, while insurance sector fell 1.26 percent.
Elsewhere in the region, Saudi Arabia’s bourse led the region, recovering from last week’s weakness to hit a five-year high with gains in most sectors as global oil prices stabilised. The index rose 1.3 percent to 9,425 points, its highest level since July 2008. Most stocks closed in the black, including petrochemicals, banks, cement makers and food producers.
The Dubai’s bourse rose 1.0 percent, aided by Emaar Properties, which resumed last week’s rally and added 1.6 percent, although the trading volume was significantly lower than last week. Emaar’s recent rally has been triggered by the announcement of a dividend hike and a plan to list its shopping mall subsidiary.
The main Dubai index closed at 4,347 points; last week it broke above technical resistance at 4,242-4,255 points, the February peaks. There is now no significant chart resistance nearby.
Among other gainers in Dubai were property developer Deyaar and construction firms Arabtec Holding and Drake and Scull.
Bahrain’s index climbed 0.8 percent, largely on the back of Arab Banking, which jumped 7.1 percent. The stock surged last month after news that the bank was hiring Standard Chartered banker Ray Ferguson as its group chief banking officer; it then retreated and is now climbing back to the recent peak. QNA & Reuters
