Doha: Major stock markets in the Middle East rebounded yesterday with Qatar Exchange (QE) index jumping 397.60 points, or 4.63 percent, when the bourse closed trading at 8,981.61 points. Majority of shares surged more than 3 percent, joining the global market rally at the end of the last week as investors took solace in the bounce-back in crude oil prices. Oil-linked companies, Qatar Gas Transport and Gulf International Services jumped 5.3 and 9.9 percent, respectively.
Saudi Arabia’s index rebounded 2.7 percent to 5,612 points, but is 222 points off its session high.
Dubai’s index rebounded 5.2 percent to 2,757 points, pulling away from a 28-month low on Thursday. The majority of shares jumped more than 2 percent in the largest volume of trades this year.
Abu Dhabi’s benchmark jumped 4.3 percent to 3,839 points from a 28-month low on Thursday, trimming its losses to 10.9 percent this year.
In Egypt, the main index traded up 3.2 percent, bouncing back from a 28-month low close on Thursday. Reuters
