DOHA: Qatari stock market closed firmly higher, recovering from early weakness, on the back of strong oil, yesterday. The market advanced 0.87 percent to 11,833 points as the real estate sector gained the most.
The market which opened the second quarter on a negative note last week, has been finishing positive for the past three straight sessions. The developer UDC surged 2.25 percent and Ezdan and Barwa were up 1.90 percent and 1.33 percent, respectively. Bellwether Industries Qatar (IQ) jumped 2.35 percent and International Islamic soared 2.53 percent. QIB, Doha Banka and Masraf Al Rayan were among other top gainers.
Widam, Doha Insurance and Ooredoo were the top losers of the day. Weighed by its 2014 cash dividends, Widam fell 2.04 percent. Doha Insurance lost 2.49 percent, while Ooredoo and QNB declined 0.70 percent and 0.52 percent, respectively. Foreign investors were net sellers. Market capitalisation rose by QR13bn during the past five trading sessions. Total traded value rose to QR365m from yesterday’s QR200m. Volume jumped to 8 million shares from 8 million shares. Of the 40 traded companies, 27 companies advanced yesterday, 11 declined and two remained unchanged.
Ezdan, which exchanged 2.5 million shares worth QR41m was the volume leader. With a total traded value of QR63m, Industries Qatar led the value. Sector wise, real estate led the total traded volume and Industrials sector led the value. Brent crude jumped nearly 6 percent on Monday and more than 1 percent yesterday.
The Peninsula
