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Qatari bourse slips 0.4% hurt by profit taking

Qatari bourse slips 0.4% hurt by profit taking
The Qatar Exchange (QE) index fell on Thursday by 0.4% or 55.1 points to close at 13846.01 points.
Rayan Islamic Index also went down 1% or 47.7 points to 4699.41 points.
Analysts told Mubasher that today’s decline was expected due to the recent rallies, noting that this fall would impact the index upward movement over the coming sessions.
Thursday’s traded volume amounted to 11.91 million shares, 27.7% down compared with 16.47 million shares on Wednesday. The number of transactions fell to 7956 from 9033 and turnover dropped 28% to QAR 798.75 million from QAR 1111.91 million.
United Development was the most active with a traded volume reaching 1.83 million.
Meanwhile, Industries Qatar topped actives with turnover reaching around QAR 76.23 million.
Dlala was the top gainer (+3.6%), while Islamic Holding Group was the biggest loser (-10%).
Three sectors moved higher topped by telecommunications (+0.39%), while four others moved lower led by transport (-1.12%).
(written by Mahmoud Gamal; translated by Sayed Abdel Rahman)