(MENAFN- The Peninsula) Qatar stocks ended higher yesterday, following a 3.51 percent slump on Tuesday, as the market closed for a long weekend. The bourse will be closed today on account of Qatar National Day celebrations.
The market was volatile across the range as it slipped to hit almost 11,000 points in the intraday before bouncing to end the week at 11,181, gaining 124 points, or 1.12 percent. QNB, which added 3.55 percent, was the main supporter. Barring banking and insurance sectors, entire sector indices ended flat.
The Qatar Exchange weekly data released yesterday noted the market lost a whopping QR60bn during the four-day trading week. Market cap fell by 8.81 percent to reach QR618bn. The market was down by 623 points, or 5.28 percent, during the week. The real estate stocks were crashed by 13.02 percent. Consumer goods, industrials, telecoms and transportation sector also got battered.
Consumer goods sector plunged 8.67 percent, while industrials declined 7.33 percent. Telecoms and transportation sector indices declined 6.78 percent and 6.86 percent, respectively. Bellwether Industries Qatar slipped 6.36 percent during the week.
Of the total 43 listed companies, just one company ended higher, while the entire 42 remaining companies fell during the week.
Trading value during the week increased by 111.31 percent to QR3.5bn. Total trading volume increased by 158.52 percent to over 82 million shares, while the number of transactions rose by 83.70 percent to 36,876 transactions. The banks and financial services sector led trading value during the week, followed by industrials sector and real estate sector. Gulf International services led trading value during the week, followed by Masraf Al Rayan and Barwa Real Estate.
The trading volume was led by the real estate sector, followed by banks and financial services, telecoms and industrials sector. Again, banks and financial services led trading numbers accounting for 27.49 percent of the total number of transactions.
Yesterday, most Gulf stock markets regained strength as oil's slide paused, with blue chip banks pushing Abu Dhabi up sharply and Saudi Arabia's bourse jumping after the kingdom's finance minister said the government would continue spending heavily, reported Reuters.
The main Saudi stock index jumped 4.2 percent in a broad rally which included the petrochemicals sector. Saudi Basic Industries, the biggest company in the sector and in the whole market, added 4.8 percent.
Dubai's index ended 1.6 percent lower as its rebound was met with fresh selling, mainly in the property and construction sectors. Emaar Properties lost 3.6 percent and builder Arabtec tumbled its daily 10 percent limit.
Abu Dhabi's index surged 5.1 percent as shares in its three largest banks, First Gulf Bank, National Bank of Abu Dhabi and Abu Dhabi Commercial Bank, surged 11.2, 8.0 and 9.3 percent respectively.
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