By Hanan Mohamed
Doha – Mubasher: Qatar Stock Exchange (QSE) finished the second week of February on a weaker note amid a semi collective decline of sectors, reversing a two-week rise.
The benchmark closed off 197.72 points or 2.04% to 9,485.90 points from 9,683.62 points a week ago.
QE Al Rayan Islamic Index dropped 0.57% to 3,415.91 points. Likewise, QE All Share Index lowered 1.83% to 2,532.50 points
The above indicators prove that QSE main indices endure so massive pressure that the main index during a week broke the key support level of 9600 reaching 9,485 points, said Ahmed Akl, analyst, clarifying that the benchmark thus far have lost 950 points since the beginning of this year to stand at 9,485.90 points against 9,683.63 points a year ago.
Total trading value also slipped 18.8% week-on-week from QAR1.39 billion to QAR1.13billion. Similarly, total trading volume was 26.6% lower to 33.1 million shares versus 45.09 million shares last week.
This downturn in terms of trading value and volume is mainly ascribed to volatile global markets and oil prices, although this week witnessed healthy liquidity levels and high cash dividend distributions, Akl stated.
Market capitalization also saw a slide of 2.2% week-on-week from QAR517.19 billion to QAR505.97 billion
The only advancer of the week was the Insurance sector that grew 0.17%, while the sectors' laggard was Banks and Financial Services with a fall of 2.38%.
The best gainer was Qatari Investors Group with a rise of 9.91%, while Gulf International Services was the worst decliner by 16.50%.
The most active stock, in terms of trading value and volume, was Gulf International Services as 7.5 million shares were exchanged at a turnover of QAR240.72 million.
Traders are advised to re-position in stocks with reasonable growth and high dividend distributions during 2015, said the analyst, adding that shifting between positions is recommended for stocks with expected strong yields.
Translated by Ahmed El-Sayed Ali
