By Mahmoud Gamal:
Qatar-Mubasher: The Qatar Exchange (QE) ended Tuesday’s trading with a slump as investors booked gains from a three-day winning run in which the benchmark gained more than 2000 points.
The benchmark fell 1.9% or 238 points to close at 12183.52 points, compared with 12421.22 points.
The stock market was down today due to profit taking that was triggered by the rises seen in the last three sessions, said Al Al-Anzi, technical analyst at M&R Consulting.
He added that local shares continue to jitter due to volatility in oil prices that offset gains and moved towards $60 per barrel today.
Six sectors were in the red territory today, topped by banks (+2.4%), then real estate (+2.24%), then industrials (+1.7%). Meanwhile, transportation continued its winning run with a rise by 0.3%.
Tracking stock performance, Islamic Holding was the biggest loser (-10%), followed by Gulf International (-6.24%) then QNB (-4.17%). On the positive front, Medicare topped the nine advancing stocks (+4.6%), followed by Zad (+1.8%).
Trading activity lost momentum for the second straight day, as traded volume declined to 16.25 million shares from 24.72 million shares and turnover fell to QAR 707.8 million from QAR 1.004 billion.
Barwa was the most active in terms of traded value and volume, after more than QAR 177.42 million was generated from exchanging 4.08 million shares.
The market capitalization fell by around QAR 12.6 billion to QAR 665.21 billion, compared with QAR 677.8 billion on Monday.
The analyst advised traders not to build more positions currently, given the major changes currently seen in the local market, most of which are related to global markets and commodities.
National traders ended as net sellers, after recording buy and sell transactions worth QAR 453.2 million and QAR 509.3 million respectively. Meanwhile, foreign traders carried out buy and sell transactions worth QAR 254.6 million and QAR 198.5 million in a row.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Qatar-Mubasher: The Qatar Exchange (QE) ended Tuesday’s trading with a slump as investors booked gains from a three-day winning run in which the benchmark gained more than 2000 points.
The benchmark fell 1.9% or 238 points to close at 12183.52 points, compared with 12421.22 points.
The stock market was down today due to profit taking that was triggered by the rises seen in the last three sessions, said Al Al-Anzi, technical analyst at M&R Consulting.
He added that local shares continue to jitter due to volatility in oil prices that offset gains and moved towards $60 per barrel today.
Six sectors were in the red territory today, topped by banks (+2.4%), then real estate (+2.24%), then industrials (+1.7%). Meanwhile, transportation continued its winning run with a rise by 0.3%.
Tracking stock performance, Islamic Holding was the biggest loser (-10%), followed by Gulf International (-6.24%) then QNB (-4.17%). On the positive front, Medicare topped the nine advancing stocks (+4.6%), followed by Zad (+1.8%).
Trading activity lost momentum for the second straight day, as traded volume declined to 16.25 million shares from 24.72 million shares and turnover fell to QAR 707.8 million from QAR 1.004 billion.
Barwa was the most active in terms of traded value and volume, after more than QAR 177.42 million was generated from exchanging 4.08 million shares.
The market capitalization fell by around QAR 12.6 billion to QAR 665.21 billion, compared with QAR 677.8 billion on Monday.
The analyst advised traders not to build more positions currently, given the major changes currently seen in the local market, most of which are related to global markets and commodities.
National traders ended as net sellers, after recording buy and sell transactions worth QAR 453.2 million and QAR 509.3 million respectively. Meanwhile, foreign traders carried out buy and sell transactions worth QAR 254.6 million and QAR 198.5 million in a row.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
