By: Eman Ghaly

Mubasher: The Qatar Stock Exchange (QSE) ended Wednesday’s trading session in red territory, weighed down by six sectors.

The general index fell 111.45 points, or 1.09%, to finish at 10,152.62 points.

The drop in global oil prices on Tuesday below $80 per barrel (pb) is one of the main reasons beyond the Qatari bourse's massive drop, financial analyst at Namaa Economic Consultancy Ahmed Maher told Mubasher.

If global tensions resist, the general index will target resistance at 10,000 points, Maher added.

Moreover, listing Qatalum on the QSE and positive financial results will improve the index’s performance, he noted.

The bourse’s trading volume went down to 6.6 million shares, versus 7.3 million shares on Tuesday, while turnover decreased to QAR 215.9 million, comparing to QAR 198.9 billion.

The goods and services sector topped the QSE’s losers falling 1.46% as Widam Food Company plunged 3.4%, while the banking sector went down 0.34% as Qatar First Bank (QFB) retreated 3.26%.

On the positive side, the transportation sector was the bourse’s only gainer adding 0.41% due to Qatar Navigation’s 2.74% increase.

By the end of the session, Qatar National Bank’s (QNB) stock, which stood at QAR 188, led the QSE in terms of liquidity with QAR 53.6 million, while Qatar Gas Transport’s stock, which levelled down 0.94%, spearheaded the market in terms of trading volume with 952,800 shares.

Translated by: Kholoud Mohamed Hussein