Mubasher: The Qatar Stock Exchange (QSE) closed Thursday on a negative note, following an interest rate increase decision by the Qatar Central Bank (QCB) announced on the same day.
The QSE’s general index shed 0.54% or 47.68 points and closed at 8,825.70 points.
The QCB hiked interest rates, for the first time in 2018, by 25 basis points to 1.75% from 1.50%, following a similar decision taken by the US Federal Reserve Bank late Wednesday.
Meanwhile, turnover rose slightly to QAR 281.03 million on Thursday from QAR 278.51 million on Wednesday, while traded volume jumped to 16.39 million shares exchanged versus 11.73 million.
Three sectors pressured the benchmark index, led by the goods segment which lost 0.25% after Al Mannai retreated 5.74%.
The banking sector declined 0.15%, weighed down by seven stocks particularly Al Ahli Bank, which dropped 5.94%, while Qatar National Bank (QNB) slipped 0.16%. The sector shrugged off the 6.40% jump by Qatar First Bank (QFB).
On the positive side, four sectors ended higher, led by real estate with 0.77% after Ezdan grew 1.37%, while the industrial sector edged up 0.07% on the back of three stocks, led by Industries Qatar, which added 1.29%.
QFB led the Qatari market in terms value and volume with QAR 47.7 million and 6.6 million shares traded.
