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QSE stages bear run in 4th week in Nov

QSE stages bear run in 4th week in Nov
Photo credit: Arabianeye - Reuters

Doha – Mubasher: The Qatar Stock Exchange’s (QSE) main index closed the fourth week in November in the minus column, as it dropped by 3.11% or about 338 points to the level of 10.522.21 points.

Al Rayan Islamic Index and All Share Index both fell by 3.16% to 3,959.75 points and 2.99% to 2,808.42 points, respectively.

Trading value hit QAR 954.83 million, versus QAR 1.53 billion reached last week, with a decline of 37.71% week-on-week.

Trading volume also plummeted by 39.64% to 22.49 million shares, compared to about 37.25 million last week.

The number of transactions increased 8.86% to 16,850 versus about 15,480 last week.

The market value however dropped by about 3.08% to QAR 552.96 billion, against about QAR 570.54 billion last week.

“The resistance level ranged between 10,699 and 10,800 points this week, while the supports were 10,500, 10,450 and 10,350 points,” Ahmed Aql, financial analyst and economic advisor explained to Mubasher.

The QSE’s sectors plummeted semi-collectively, topped by the industrial sector with a 4.02% decrease, while the only rise was triggered by the insurance sector as it went 0.11% up.

The week saw 42 shares traded, six of them moved up, 36 others shrank, and the two remaining stayed at the same rates.

Gulf International Company accounted for 13.41% of the market’s total trading value, making it the most active in that category, followed by Qatar Gas Transport Limited and Qatar National Bank which rose 12.98% and 8.93%, respectively.

QSE main index rose last week by 0.28% or 29.85 points to 10,860.18 points.