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Qatar closes Monday in red, loses QAR 2.2bn

Qatar closes Monday in red, loses QAR 2.2bn
The goods sector topped the QSE’s fallers

Mubasher: The Qatar stock exchange (QSE) ended Monday’s trades down due to a drop in six sectors led by goods and banking.

The general index edged down 0.25% to 7,808.18 points, losing 19.32 points.

Market capitalisation shed 0.5% or QAR 2.2 billion to reach QAR 417.40 billion, compared to QAR 419.6 on Sunday.

The goods sector topped the QSE’s fallers, sliding 3.54% on the back of seven stocks led by Mannai Corporation with 9.94%.

The banking sector declined 1.06% after Qatar First Bank (QFB) retreated 5.03%.

Similarly, the industrial sector went down by 0.76% as a result of a fall in six stocks topped by Qatar Industrial Manufacturing with 6.23%.

Meanwhile, the telecommunications sector jumped 7.69% due to the increase of both Ooredoo by 8.88% and Vodafone Qatar by 0.16%.

On Monday, liquidity increased to QAR 166.73 million from QAR 89.47 on Sunday, while traded volume levelled up to reach 6.62 million shares against 2.20 million in the previous session.

Gulf International Services’ stock, up 0.71%, topped the QSE in terms of the traded volume with 1.25 million shares exchanged, while Qatar National Bank’s stock, which decreased 1.87%, topped the QSE in terms of liquidity with QAR 29.83 million.