Doha: Qatar Exchange (QE) index gained 40.42 points or 0.34 percent when the bourse closed yesterday at 11,943.50 points compared to 11,903.08 points on Monday. The market capitalisation increased to QR636.8bn compared with QR634.2bn on Monday.
The trading value increased to QR203.27m compared with QR161.71m on Monday. Indices of all sectors ended in the green. The consumer goods and services sector index gained the most, up 1.42 percent to 7,374.24 points.
Investors traded shares of 42 of the 43 QE-listed companies yesterday. Of these, shares of 24 firms gained, 12 declined and six remained unchanged.
Industries Qatar, whose petrochemicals business is set to benefit from firmer oil prices, was the main support for the index, rising 0.7 percent.
Meanwhile, most Gulf stock markets rose after oil prices rebounded, but Saudi Arabia fell ahead of a key announcement from index compiler MSCI.
Brent crude gained more than 2 percent and traded above $64 per barrel as higher seasonal demand in developed economies and expectations of falling US shale production reduced the impact of a large global supply overhang. But Saudi Arabia’s main index fell 0.4 percent to 9,491 points as most local stocks declined.
Other Gulf markets pared early losses and ended higher. Dubai’s index was the top gainer, jumping 2.4 percent. Amlak Finance surged by its daily 15 percent limit for the fifth straight session, extending to 99 percent its gains since trading in the issue resumed a week ago after a six-year suspension. This means Amlak has now caught up with Dubai’s index, which doubled while the stock was suspended.
After Amlak hit the limit, buyers switched to other stocks such as builder Arabtec which surged 13.5 percent, even though the company has made no announcements. Most other stocks also rose. Abu Dhabi’s bourse edged up 0.4 percent in another broad rally.
Egypt’s market inched down 0.1 percent amid a mixed performance by local stocks. Orascom Telecom Media And Technology was one of the biggest losers, dropping 2.1 percent after the firm said it was delaying the publication of first-quarter results because it was still in negotiations on the repatriation of profit from its North Korean business.
HIGHLIGHTS
SAUDI ARABIA: The index fell 0.4 percent to 9,491 points.
DUBAI: The index jumped 2.4 percent to 4,114 points.
ABU DHABI: The index edged up 0.4 percent to 4,584 points.
EGYPT: The index lost 0.1 percent to 8,661 points.
KUWAIT: The index climbed 0.3 percent to 6,291 points.
OMAN: The index added 0.2 percent to 6,475 points.
BAHRAIN: The index rose 0.2 percent to 1,368 points.
QNA/reuters
