Doha: Qatar Exchange was down 25.53 points or 0.30 percent yesterday to 8,511.97 points from the previous closing of 8,537.50.
The volume of shares traded fell to 2,540,716 from 5,954,890 on Monday, and the value of shares decreased to QR118,565,354.44 from QR218,890,830.48 on Monday.
Among the top losers were Industries Qatar whose share dropped 0.67 percent to QR149.30, Commercial Bank of Qatar lost 1.03 to QR57.40, Barwa Real Estate fell 1.90 percent to QR28.35 and Qatar Navigation down 1.28 percent to QR61.50.
The banking and financial sector lost 3.65 points while the insurance sector added 29.22 points. The industrial sector down 8.33 points and the Services sector fell 8.62 points.
Meanwhile, Kuwait’s main stock index rose from yesterday’s 10-week low as bargain-hunters stepped in following two days of declines spurred by political unrest, while Gulf markets were mixed in thin trade as Eid holidays approached.
The Kuwaiti index climbed 0.5 percent yesterday. It had suffered its largest drop in more than three years on Sunday, falling 3.1 percent, and extended those losses on the following day in the wake of political protests.
Police used tear gas, stun grenades and baton charges on Sunday night to disperse thousands of demonstrators protesting against changes to the electoral law, which the opposition has called a constitutional coup by the government.
“The market’s stability shows the panic has been absorbed by the market,” said Fouad Abdulrahman Alhadlaq, deputy general manager at Al Dar Asset Management.
However, traders noted there was no clear sign of any resolution to the political tensions. The government banned gatherings of more than 20 people and gave police more powers to disperse protests, local media reported yesterday.
In Saudi Arabia, large-caps dragged down the bourse for a third straight session and trading volumes plunged to a 13-month low. Saudi Basic Industries Corp and National Industrialisation shed 1.1 and 2.9 percent respectively.
The kingdom’s index slipped 0.2 percent to its lowest level since October 15. The market traded 119 million shares, the lowest daily amount since September 2011.
Agencies
