By: Eman Ghaly
Mubasher: The Qatar Exchange ended the week on a decline after four consecutive rises, with market capital losses reached QAR 12.6 billion.
The main index dropped 2.67% to settle at 9,207.01 points, losing more than 252 points compared to its level last week.
Profit making led to selling pressures, according to investment manager of Namaa, Ahmed Maher.
Maher expects the general index to see other increases in the upcoming period, after companies approve cash dividends.
The main index is targeting the resistance level at 9,400 points, as it is still in the 9,200 area, the index has support levels at 9,000 and 8,600, the analyst noted.
However, losses were accompanied by gains in small shares, which rose by 10% since the beginning of the year, as Ezdan alone surged by 40% after plummeting to its lowest level in 6 months.
As for the market sectors performance, six sectors ended the week in losses, led by telecom with 4.19%, followed by industry by 3.49%, insurance with 3.23%, banks with 2.69%, and real estate with 1.46%.
On the other hand, only the transportation sectors saw gains, rising by 2.56%.
Traded values wen down by 35.8% to QAR 969.05 million, while volumes decline by 38.05% to 37.29 million shares.
Transactions also fell 22.8% to around 16,900 from 21,880 last week.
