The rising momentum of Qatari shares came to halt this week as concerns regarding the Russian-Ukrainian crisis dented the sentiments of investors.
Weighed down by the news of Russian forces entering Ukraine, stock markets across the world plunged. Qatar Stock Exchange also witnessed a similar trend with QE Index declining over 100 points in yesterday’s trade.
The QE Index fell at 110.44 points, or 0.87 percent, to close at 12,638.80 points on Thursday.
The impact of Russian-Ukrainian crisis was felt on the prices of oil and gold also. In the global market, oil prices surged above $105 a barrel for the first time since 2014. Prices of gold, a traditional haven investment, gold jumped more than 1.7 percent to its highest since early January 2021.
The volume of shares traded decreased to 252.88 million yesterday from 181.63 million on Wednesday and the value of shares decreased to QR853.16m from QR545.58m on Wednesday.
The indices of seven sectors ended in red zone yesterday. QSE Total Return Index dropped 0.87 percent 25,213.77, QSE Al Rayan Islamic index decreased 1.15 percent to 5,186.09 points and QSE All Share Index lost 0.90 percent 3,978.98 points.
On the weekly basis, the QE Index has lost around 97 points or 0.76 percent. Trading value during the week reached QR3.13bn and the trading volume reached 1.10bn with 66,397 transactions. Market capitalization reached QR723.30bn as compared to QR723.30bn at the end of previous week.
On Wednesday, The QE Index rose 0.5 percent to close at 12,749.2. The Real Estate and Insurance indices led the gains. The index rose on the back of buying support from GCC, Arab and foreign shareholders despite selling pressure from Qatari shareholders.
The QE Index rose 0.2 percent on Tuesday to close at 12,690.8. Gains were led by the Telecoms and Transportation indices, gaining 0.7 percent and 0.6 percent, respectively while on Monday The QE Index rose marginally to close at 12,670.1. The QE Index had declined 0.5 percent to close at 12,668.1. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 0.9 percent and 0.7 percent, respectively.
