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MENAFN - The Peninsula - 05/01/2007

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(MENAFN - The Peninsula) DOHA • The Qatari bourse witnessed low trading volumes in the past two days as most investors were away vacationing during Eid Al Adha holidays, market sources said.

They expect the market to show buoyancy from Sunday when it reopens next week as the investors are likely to be back by then.

However, despite the holidays, local shares rose slightly yesterday but lost marginally over the week. There were only two trading days in the week (Wednesday and Thursday) as the market was closed for Eid until January 2.

The index of the Doha Securities Market (DSM) was up nine points to 7,129.55 at the end of yesterday's trading.

Over the week though, the index lost 3.45 points, or a marginal 0.05 per cent. The nominal market wealth was at QR223.83bn.

Trading volumes increased beyond 10 million to 11.82 million at the end of yesterday's trading. The deals conducted were more than 7,500 with the trading value of the stocks adding up to over QR324m.

Qatar Islamic Insurance, National Leasing Company, Gulf Insurance and Barwa Real Estate were major gainers followed by Salam International, Qatar Technical Inspection Company, Mawashi (Qatar Meat and Livestock Company) and Makhazin (Gulf Warehousing).

Losers included Nakilat (Qatar Gas Transport Company) and Medicare Group (which owns Ahli Hosptial), among others.

Over the week (January 3 and 4), the index loss was 3.45 points with trading volumes remaining at below 20 million. Trading value was also restricted at QR574.44m across a little less than 13,000 deals.

The low figures were due to the fact that there were only two trading days in the week.

A vast majority of the listed stocks showed gains over the week led by Gulf Insurance, Qatar Islamic Insurance, Barwa Real Estate, National Leasing and Salam International.

Losers were few and they included Qatar Navigation, Medicare Group, Qatar Insurance and Doha Insurance, among others.


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