DOHA: Qatari bourse extended its weekly rally for the fourth straight round yesterday, ending 0.15 percent up from the previous week, to settle at 11,772. The market was 4.18 percent down year-to-date.
Market capitalisation rose by 0.23 percent to QR617bn in the past week. The banks and financial services led trading number of transactions, accounting for 28.14 percent, followed by industrials sector and real estate. Of the 43 companies, 21 ended higher, while 19 fell and three remained unchanged.
Total trading value during the week decreased by 0.61 percent to QR1.3bn during the week. The trading volume declined by 1.51 percent and total number of transactions fell by 2.67 percent compared to the previous week.
The banks and financial services led the trading value, accounting for 31.29 percent of the total traded value of the week. Real estate sector was the volume leader.
Telecom sector was the best performer of the week. Driven by Vodafone, the sector rose 2.19 percent compared to the previous week. Vodafone surged 6.13 percent. Insurance sector declined 2.90 percent and transportation plunged 1.60 percent. While industrials advanced 1.05 percent, banks and financial sector added 0.28 percent. The benchmark index edged up 0.11 percent yesterday, with telecoms sector rising the most by 1.46 percent.
Ooredoo, which announced the appointment of an acting group chief strategy officer yesterday, jumped 1.55 percent. Vodafone gained 1.22 percent.
Meanwhile, property developer Mazaya said it is considering the possibility of boosting its capital. Mazaya fell 3.12 percent.
Mazaya Qatar Real Estate Development Company also disclosed its financial statements for the period ended September 30, showing that the net profit is QR92.5m compared to net profit amounting to QR87.9m for the same period of the previous year.
The company said that its earnings per share (EPS) amounted to QR0.88 for the period ended September 30, 2015 to EPS amounted to QR0.84 for the same period of the previous year.
Elsewhere in the region, most Middle East bourses —apart from in Saudi Arabia and Qatar — were closed for Islamic New Year. Trade was muted ahead of the weekend there, with renewed weakness in oil prices adding to the cautious mood among investors.
Shares in Saudi Arabian petrochemical manufacturer Saudi Kayan tumbled yesterday after it swung to a third-quarter loss, pulling down the kingdom’s index. The main benchmark index dropped 1.1 percent to 7,699 points, taking its losses to 15.3 percent in the second half of 2015, Reuters reported.
The Peninsula
