DUBAI: Qatar’s equity index climbed yesterday as passive funds flowed into shares now included in FTSE’s secondary emerging market index while other Gulf markets sagged. Qatar Stock Exchange (QSE) index gained 103.75 points, or 1.02 percent, when the bourse closed trading at 10,256.52 points yesterday. Passive funds will flow into 22 shares, and the stocks will continue to be bid up for several days to come as managers meet their fund mandates.
Masraf Al Rayan, which slumped 5.1 percent on Monday, added 1.9 percent and telecommunication provider Ooredoo, which also dropped 5.1 percent the previous session, climbed 0.4 percent.
From the 44 companies listed on QSE, shares of 41 saw trading yesterday. From these 21 gained, 18 closed lower and two remained unchanged.
Elsewhere, Saudi Arabia’s index slipped 0.2 percent to 5,925 points but closed 56 points above its intra-day low. Dubai’s index pulled back 0.9 percent, hit by profit taking in line with subdued global markets.
In Abu Dhabi, the share index dropped 0.4 percent to an 11-week low closing level.
Reuters/QNA
