Doha: Qatar Exchange index gained 56.28 points, or 0.47 percent, when the bourse closed yesterday at 12,020.73 points.
The market capitalisation increased to QR636.264bn from QR634.209bn registered on Tuesday.
The trade turnover increased to QR180.891m with a volume of 4,214,321 shares from 2,665 transactions compared with QR133.672m with a volume of 3,082,419 shares from 2,113 transactions on Tuesday.
Barring industries index which went down by 01.1 percent to 3,825.55 points indices of all sectors ended in the green today. Insurance index gained the most, up 1.92 percent by 91.41 points to 4,846.71 points.
The Total Return Index gained 0.47 percent (18,648.5 points). Al Rayan Islamic Index gained 0.16 percent (4,655.43 points) and the All Share Index gained 0.40 percent (3,209.81 points).
Meanwhile, stock markets across the Middle East rose yesterday, tracking global equities, as investors prepared for an extended break to mark Eid Al Fitr. Saudi Arabia’s main index climbed 0.7 percent despite mixed second-quarter earnings and a pull-back in oil prices.
Petrochemicals giant Saudi Basic Industries Corp (Sabic) rose 1.9 percent after subsidiary Yanbu National Petrochemical Co (Yansab) reported a 63 percent fall in second-quarter net profit on Tuesday but just beat analysts’ forecasts.
Yansab, whose shares jumped 2.5 percent yesterday, made a net profit of SR227.4m ($60.6 m) in the three months to June, against forecasts averaging SR213m. Sabic has yet to publish its own quarterly financials.
Food maker Savola Group, which holds a controlling stake in an Iranian edible oil company, rose 1.0 percent.
Saudi Arabian Mining Co (Ma’aden) fell 1.8 percent after a 27 percent fall in second-quarter net profit to SR270m; analysts surveyed by Reuters had forecast an average SR380.4m.
Dubai’s index added 1.2 percent as heavyweight Dubai Islamic Bank jumped 2.0 percent. The lender has not yet reported its earnings, but another Dubai bank, Emirates NBD, posted a 26 percent increase in quarterly profit yesterday, broadly in line with analyst estimates.
Another local bank, Mashreq, surged 4.4 percent before its own earnings announcement. After trading closed, Mashreq reported a 11 percent rise in quarterly profit, according to Reuters calculations.
Port operator DP World, which trades on the smaller Nasdaq Dubai exchange, jumped 3.6 percent to $23.00 helped by the sanctions decision. Also, JP Morgan this week raised its target price for the stock to $25.80 from $19.40.
Agencies
