(MENAFN- The Peninsula) Qatar Exchange index swung back to red zone yesterday, losing 185.12 points (-1.41 percent) when the bourse closed at 12,962.67 points. The trading value dropped to QR505.365m from Sunday's QR576.620m.
The trading volume dropped to 10,557,585 shares from 6,095 transactions compared to 11,017,062 shares from 5,890 on Sunday. The market capitalisation declined to QR701.546 bn from QR710.276bn on Sunday.
Indices of all sectors ended in the red today, barring transport sector which gained slightly by 0.02 percent when it closed at 2,253.44 points. Real estate was the biggest loser, down - 2.20 percent to 2,539.43 points followed by banks and financial services which dropped -1.60 percent to 3,251.87 points. From the 43 listed companies 34 ended lower today, six went down while two remained unchanged. Qatar Navigation share gained QR1.40 (+1.49 percent) when it closed at QR95.40. From the industries sector Mannai Corp share took a beating, down QR 4.30 (-3.81 percent) when it closed at QR108.70.
Most Middle Eastern stock markets fell yesterday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings.
Stock indexes in the United Arab Emirates and Qatar rose in early trade but quickly gave up all their gains after European bourses once again weakened.
Dubai's index, which was up as much as 2.5 percent early in the session, closed 1.0 percent down, having changed direction shortly after the pan-European FTSEurofirst 300 index opened and moved into negative territory.
Saudi Arabia's main index rose 1.1 percent in a volatile session, having briefly moved into negative territory. Bank Albilad jumped 3.6 percent after reporting a 20 percent profit jump in the third quarter, ahead of estimates.
Alinma Bank surged 6.8 percent and was the main support for the benchmark. The lender has yet to publish its quarterly results, but most other Saudi banks have either met or beaten analysts' forecasts.
Shares in Yanbu National Petrochemical Co (Yansab) edged up 0.4 percent after it reported a 20.1 percent drop in third-quarter net profit, which was in line with analysts' estimates.
Saudi Kayan Petrochemical Co rose 1.3 percent. The firm's third-quarter profit rose 55 percent. Petrochemicals giant Saudi Basic Industries, which is affiliated with both Yansab and Kayan, gained 1.7 percent. Egypt's index edged up 0.1 percent after Moody's changed its outlook on the country's sovereign rating to stable from negative, citing a more stable political and security situation and signs of economic recovery.
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