By: Hanan Mohamed

Doha-Mubasher: Qatar Exchange ended Thursday in the green, spurred by a rise in 18 stocks.

QE index slightly rise by 0.08% or 9.17 points to close at 12139.42 points.

Financial market analyst Rakan Alotaibi said that the index fell below the 12470-point level and broke the 12370-point level.

Trading volume reached around 6.25 billion shares, at a turnover of about QAR 336.4 billion, traded through 3918 transactions by 43 companies, of which 18 gained, 21 dropped and 4 remained unchanged.

Qatar for Cinema and Film Distribution was the top gainer by 2.44%, meanwhile Doha Bank was the top dragger by 8.46%.

Masraf Al Rayan the most active company with a trading volume of about 789,400 shares that changed hands at QAR 35.7 million.

The strong support level stands at 12120 points, Alotaibi noted, adding that it is important for the index to break the 12240-point level and stabilize above it.
On the sectors’ level, the real estate sector led gainers by 0.78%, supported by Ezdan Holding Group and United Development Co which added 1.29% and 0.50% respectively.

The industrials sector rose slightly by 0.49% as Mannai Corp, Mesaieed Petrochemical Holding and Industries Qatar which gained 1.77%, 0.91% and 0.14% respectively.

The analyst highlighted that the stocks of Industries Qatar and Qatar National Cement Co supported the bourse as they broke several resistance levels.

The banks and financial services sector inched up 0.31%, backed by Al Khalij Commercial Bank, Commercial Bank of Qatar and Qatar International Islamic Bank which rose gained 1.83%, 1.45% and 1.18% respectively.

The insurance sector tailed the list of decliners due to a drop in Qatar General Insurance and Reinsurance Co, Qatar Islamic Insurance Co and Qatar Insurance Co by 2.03%, 1.61% and 0.52% respectively.

The liquidity is still low, thus raising concerns, Alotaibi further noted.

Translated by : Julian Nabil