Doha-Mubasher: The Qatar Exchange (QE) continued its downtrend for the second successive day, as it saw sell-offs on blue chips mainly Doha Bank, QIBK, QNB and CBQK.
The benchmark index fell 0.25% or 29.14 points to close at 11862.32 points, compared with 11891.46 points on Monday.
Speculators continued to sell bank stocks that announced dividend distributions near their market prices, said Amir Al Mansouri, capital market analyst.
He added that the sell-offs were met with boosting positions in stocks with strong results and dividends.
The market was driven lower mainly by banks and transportation stocks.
The bank sector shed 1.17% hurt by Doha Bank (-2.12%), Al Rayan (-1.8%), QIBK (-1.4%) and QNB (-1.2%).
The transportation sector was also down 0.5% as it weighed by Gulf Warehousing (-3.07%) and Milaha (-1.02%).
Meanwhile, five sectors moved higher topped by real estate (+1.5%) that was backed by Mazaya Qatar (+4.7%) and United Development (+3.03%).
Turnover rose to QAR 690.6 million from QAR 626.3 million, while traded volume increased to 16.02 million shares from 13.17 million shares.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters