Doha: Qatar Exchange was down 14.65 points or 0.17 percent to 8,513.93 points yesterday from the previous closing of 8,528.58 points. Among the top losers were Commercialbank whose share dropped 1.61 percent to QR67.40, International Islamic lost 0.53 percent to QR56, Ooredoo fell 3.03 percent to QR112 and National Leasing was down 1.27 percent to QR35.05. The banking and financial sector added 0.14 points, the insurance sector rose 0.78 points, the industrial sector gained 0.16 points and the services sector was up 0.87 points.
Meanwhile, Egypt’s bourse suffered its biggest one-day loss in three months after the chief executive of its largest listed firm was banned from leaving the country on charges of tax evasion — a fresh blow to business confidence in the country.
The public prosecutor ordered that Nassef Sawiris, Chief Executive of Orascom Construction Industries, and his father Onsi Sawiris be barred from travel, state news agency Mena reported. All except two stocks fell in Cairo’s main index, which retreated 2.3 percent to 5,375 points.
In Saudi Arabia, banks led declines as investor sentiment continued to weigh on the sector. Al Rajhi Bank and Samba Financial Group each slipped 1.1 percent. The kingdom’s benchmark dropped 0.5 percent to its lowest close since January 2.
Elsewhere, United Arab Emirates markets declined with property-related stocks being the main drag. Dubai builder Arabtec plunged 10 percent to a 13-month low of Dh2.17. Dubai’s benchmark retreated 1.9 percent to a two-week low. In Abu Dhabi, shares in Aldar Properties and Sorouh Real Estate, which plan to merge, tumbled to two-week lows as investors booked recent gains. The pair dropped 5.2 and 3.7 percent, respectively.
Reuters
