Qatar stocks down after UAE planes intercepted

Dubai: The Qatar exchange index witnessed a sharp fall in midday trade and tumbled nearly 2.5 per cent, the single biggest daily fall in weeks, after the UAE said Qatari fighter jets intercepted two of its commercial airlines.

The Qatar stock exchange index closed down 2.48 per cent at 8,946.97, reversing from an earlier high of 9,252.92.

“The market was up in the morning, but as soon as the news on interception started coming in there was a knee-jerk reaction,” said an analyst who did not wished to named. The index has gained nearly 5 per cent so far in January.