By: Waleed Abdul Salam
Doha – Mubasher: The Qatar Stock Exchange’s (QSE) main index ended Monday’s session falling by 3.97% or 420 points to the level of 10,152.77 points.
The index was pressured by the fall in some blue chips as Vodafone Qatar topped the red list with a 7.8% decrease. Industries Qatar and Ezdan also shrank by 6.6% and 5%.
Trading volume increased 97.1% to 26.94 million shares from 13.67 million shares exchanged on Sunday, turnover also leapt 86.9% to QAR 1.3 billion from QAR 695.72 million.
Ahmed Maher, financial analyst at Enmaa Financial Services, suggested that the fall in the Qatari bourse is a result of illogical profit taking due to over-estimates on the inclusion of some Qatari firms in the FTSE Russell’s Secondary Emerging Market Index.
The QSE earlier announced that 22 listed companies will be included in the FTSE Russell’s Secondary Emerging Market Index starting from 20 September.
The bourse’s sectors fell collectively, headed by the telecom sector with a fall of 5.62%, followed by the transportation and real estate sectors as they fell by 5.5% and 4.2% respectively.
Translated by: Elwy el-Manzalawy
