By Mahmoud Gamal:
Doha-Mubasher: The Qatar Exchange (QE) extended its fall to the third successive day, amid anticipation for the decision of the European Central Bank (ECB) as regards announcing a sovereign bond-buying program to boost the euro zone's flagging economy. The market was also weighed by oil and profit taking on blue chips.
The benchmark index fell 0.11% or 12.7 points to close at 11849.63 points, compared with 11891.46 points on Tuesday.
Traders continued today their cash-ins as they awaited the ECB decision on a stimulus plan that will likely reflect positively on global growth forecasts and energy prices, said Mahmoud Abu Zeid, technical analyst.
He added that traders boosted positions in stocks with strong financial results and dividends like Doha Bank.
The market was driven lower mainly by transportation, telecommunication, real estate and banks.
The transportation was down 0.68% hurt by Milaha (-2.06%), while telecommunication lost 0.66% after Ooredoo fell by 1.03%. The real estate sector went down 0.33% weighed by Barwa (-0.77%). The banks sector was down 0.27% after NBAD shed 2.9%.
Meanwhile, services and industrials rallied 1.35% and 0.43% respectively.
Turnover decreased to QAR 634.2 million from QAR 690.6 million, while traded volume retreated to 12.37 million shares from 16.02 million shares.
Barwa was the most active for the third successive day, with turnover exceeding QAR 90.8 million.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Doha-Mubasher: The Qatar Exchange (QE) extended its fall to the third successive day, amid anticipation for the decision of the European Central Bank (ECB) as regards announcing a sovereign bond-buying program to boost the euro zone's flagging economy. The market was also weighed by oil and profit taking on blue chips.
The benchmark index fell 0.11% or 12.7 points to close at 11849.63 points, compared with 11891.46 points on Tuesday.
Traders continued today their cash-ins as they awaited the ECB decision on a stimulus plan that will likely reflect positively on global growth forecasts and energy prices, said Mahmoud Abu Zeid, technical analyst.
He added that traders boosted positions in stocks with strong financial results and dividends like Doha Bank.
The market was driven lower mainly by transportation, telecommunication, real estate and banks.
The transportation was down 0.68% hurt by Milaha (-2.06%), while telecommunication lost 0.66% after Ooredoo fell by 1.03%. The real estate sector went down 0.33% weighed by Barwa (-0.77%). The banks sector was down 0.27% after NBAD shed 2.9%.
Meanwhile, services and industrials rallied 1.35% and 0.43% respectively.
Turnover decreased to QAR 634.2 million from QAR 690.6 million, while traded volume retreated to 12.37 million shares from 16.02 million shares.
Barwa was the most active for the third successive day, with turnover exceeding QAR 90.8 million.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
