Qatar’s stock index climbed 1.4 percent, its largest single-day rise since July 13 as local and regional funds were again net buyers, bourse data showed.
Commodity-linked shares were some of the top performers on Tuesday, with oil and drilling service provider Gulf International Services surging 9.1 percent, Reuters reported.
The traded volume surged to 12 millions yesterday from the previous session’s 7 million and the value of shares increased to QR289m from QR178m.
Rising oil prices helped Middle East indexes eke out modest gains yesterday, though shares more exposed to foreign funds followed global markets lower, weighed down by a list of worries including North Korea.
Brent oil surged 3.8 percent overnight to settle at $59.02 a barrel after major producers said the global market was on its way to rebalancing, and crude held near that level yesterday.
The Dubai index added 0.2 percent as stocks favoured by local day traders were the most active; builder Drake & Scull climbed 2.4 percent.
Rising tensions between North Korea and the United States hurt Egyptian shares which are most vulnerable to foreign fund flows; private equity company Qalaa Holdings dropped 5.7 percent.
