QE Index falls on global cues – The Peninsula

QE Index falls on global cues – The Peninsula

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.