Doha: Qatar Exchange index gained 8.31 points, or 0.82 percent, when the bourse closed at 12,184.80 points yesterday from Monday’s 12,176.49 points.
The market capitalisation increased to QR650.91bn from QR649.46bn registered on Monday.
The traded valued decreased to QR452.72m with a volume of 12,232,162 shares from 6,090 transactions compared to QR602.88m with a volume of 15,535,360 shares from 6,389 transactions on Monday.
Industries index gained the most, up 1.04 percent to 3,951.13 points.
From the 43 companies listed on QSE, shares of 41 saw trading yesterday. From these 21 gained, 17 declined and three remained unchanged.
Total Return Index gained 0.07 percent, Al Rayan Islamic Index gained 0.68 percent (4,679.64 points), All Share Index gained 0.15 percent (3,258.39 points).
Meanwhile, other stock markets rose yesterday after oil prices edged up and mortgage company Amlak Finance , which dominated activity in Dubai, pared early losses to close flat as it resumed trading following a suspension of nearly six years.
Amlak, which was not bound by the usual daily fluctuation limits on Tuesday, swung between a 23.5 percent loss and an 8.8 percent gain before closing at the same level where it had last traded in November 2008.
It accounted for almost a third of the day’s total traded value on Dubai’s bourse, whose main index rose 1.2 percent.
Trading in Amlak, part-owned by Dubai’s biggest developer Emaar Properties, was halted in 2008 as credit markets dried up and the emirate’s real estate prices crashed. The shares plunged 79 percent in the six months before their suspension.
The outlook for Amlak and the general business environment has improved greatly since 2008, but the company still faces financial pressures. It blamed amortisation charges for a 77 percent drop in first-quarter profit this year — a sum of Dh911m ($248m) related to its restructuring will be amortised over 12 years.
Emaar, which has a 45 percent stake in Amlak, according to Thomson Reuters data, rose 1.8 percent yesterday. Most other stocks in Dubai were also positive.
Abu Dhabi’s bourse was up 0.6 percent as National Bank of Abu Dhabi jumped 2.8 percent, recovering from passive fund outflows last week which were caused by the inclusion of new stocks in MSCI’s emerging markets index.
Brent crude rose above $65 per barrel on Tuesday because of firm demand after dipping in earlier trade on expectations that Opec would not cut output at its meeting this week.
The main Saudi stock index edged up 0.2 percent and petrochemicals giant Saudi Basic Industries added 0.5 percent.
Property developer Emaar Economic City rose 0.5 percent after announcing that one of its subsidiaries had secured a SR1bn ($267m) murabaha financing facility.
However, oil shipper Bahri fell 1.4 percent after the stock exchange said it was one of five local companies in which foreigners would not be able to buy shares when the market opens to direct foreign investment this month.
QNA/Reuters
