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Posted On: 26 January 2009 08:13 am
Updated On: 12 November 2020 02:09 pm

Doha Securities Market rises by 1.96 percent

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Qatari stocks improved further yesterday with the index of the Doha Securities Market (DSM) inching up 1.96 percent, or 94.29 points, to 4,909.31. The number of transactions also rose to cross the 5,000-mark to 5,605. Market capitalisation climbed marginally up to QR198.86bn but was still a little below the psychological barrier of QR200bn-mark. Most of the listed entities (19 out of 43) showed advance while 17 suffered losses, most of them shedding less than five percent of their value. The services sector, which suffered massively during the five days of unprecedented slump recently, has been slow to recover. It gained barely 0.17 per cent at the end of trading yesterday, whereas the industrial counters improved by a relatively bigger percentage of 3.37. Insurance companies showed 3.11 percent gain as against 2.2 percent improvement registered by the banking sector. Analysts see the improving Qatari stocks as part of a quick correction but maintain that it is too early to say if the market is stabilising, especially as the global oil market continues to battle a slowdown and the world financial crisis is gradually having increasing impact on the economies worldwide.