Doha: Qatar Exchange was down 14.01 points (0.15 percent) to 9,640.54 points yesterday from the previous closing of 9,654.55 points. Among the top losers were Industries Qatar whose share dropped 0.85 percent to QR162.90, Qatar Electricity and Water lost 1.06 percent to QR168, Al Khaliji Bank fell 0.83 percent to QR16.71 and Vodafone Qatar stood at QR9.03.
The banking and financial sector was up 0.04 points while the service sector fell 0.58 points. The industrial sector lost 0.66 points and the insurance sector was up 0.74 points.
Meanwhile, Egypt’s bourse declined for a fourth straight session, partly because of the risk of further street violence, while Gulf markets were mixed with some investors booking recent gains ahead of approaching holidays. Cairo’s measure fell 0.6 percent.
In Saudi Arabia, the index gained 0.4 percent, halting a four-session loosing streak since it hit a 15-month peak. Trading is expected to be sluggish in a lull after quarterly earnings announcements, and ahead of Eid holidays in early August.
Markets in United Arab Emirates were mixed. Abu Dhabi’s benchmark slipped 0.5 percent, trimming its 2013 gains to 47 percent. Dubai’s measure however gained 0.3 percent, essentially moving sideways since retreating from last week’s near-five-year high. The market is dominated by short-term retail investors, traders said.
After trading hours, Dubai’s largest property developer Emaar Properties, posted a 10 percent increase in second-quarter net profit, beating analysts’ forecasts by about 20 percent, on higher property sales in the emirate. Kuwait’s benchmark fell 0.4 percent, easing off Sunday’s eight-week high, while Oman’s bourse was unchanged.
QNA/Reuters
