QSE goes down Thursday on global stock rout

QSE goes down Thursday on global stock rout
The industrial sector topped the QSE’s decliners falling 1.43%

By: Eman Ghaly

Mubasher: The Qatar stock exchange (QSE) ended Thursday’s trading session in negative territory, pressured by the collapse of the global stock markets on Wednesday.  

The general index fell 102.84 points, or 1.03%, to 9,861.53 points.

On Wednesday, the Dow Jones Industrial Average plunged more than 800 points, the worst in eight months, pushed down by sharp declines in technology stocks.

The Qatari bourse was affected negatively by the drop in global stocks, general manager of Namaa Consultancy Taha Abdel Ghani told Mubasher.

By the end of the last session this week, the QSE’s liquidity decreased to QAR 1.10 billion on Thursday from QAR 1.17 billion on Wednesday, while the trading volume levelled down to 5.73 million shares against 5.96 million in the previous session.

The market capitalization declined 0.7% to QAR 551.7 billion on Thursday, from QAR 555.7 billion in the previous session. 

The industrial sector topped the QSE’s decliners falling 1.43%, followed by the banking sector with 0.63%.

Meanwhile, the real estate sector was the market’s only gainer adding 0.13%.

By the end of the session, Vodafone Qatar’s stock, which plunged 0.35%, led the QSE in terms of trading volume with 881,200 shares, while Qatar National Bank’s (QNB) stock, which stood at QAR 180, spearheaded the market in terms of liquidity with QAR 34.3 million.

 

Translated by: Kholoud Mohamed Hussein