DOHA: Qatar’s stock market rebounded yesterday, erasing a sharp fall suffered on the previous day on the back of strong oil prices after Brent crude rose above $70 a barrel for the first time since December 2014.
The Qatari index had tumbled 2.5 percent on Monday because of heavy selling in the final half-hour, ending a seven-day rising streak.
The benchmark index surged 2.6 percent to close marginally above its finish last Thursday. Trading volume was moderate. The index has been in a strong uptrend for the last several weeks as investors chase annual dividends.
Of the 45 companies listed on QSE, shares of 42 saw trading yesterday. While 34 companies advanced, 8 companies closed lower.
Six sector indices ended green. QSE Total Return Index gained 2.58 percent to 15,391.26 points. QSE Al Rayan Islamic Index added 2.51 percent to 3,660.33 points and QSE All Share Index increased 2.04 percent to 2,618.29 points.
