Doha: Qatar Exchange (QE) index gained 128.05 points or 0.94 percent when the bourse closed at 13,775.89 points yesterday. The traded value increased to QR956.778m from QR849.994m on Tuesday.
The traded volume rose to 25,956,482 shares from 9,002 transactions compared to 23,004,980 shares from 8,034 transactions on Tuesday. The market capitalisation jumped to QR741.8bn from Tuesday’s QR735.01bn.
Indices of all sectors ended in the green, barring the insurance index which went down slightly to 4,078.61 points. Telecommunications sector was the top gainer. Its index jumped 2.58 percent to 1,617.09 points at close. The industries index gained 1.31 percent to 4,541.33 points, transport up 1.12 percent to 2,367.03 points, the banking and financial services rose 0.76 percent to 3,451.8 points, the real estate was up 0.56 percent to 2,750.51 points and the consumer goods and services went up 0.28 percent to 7,246.64 points.
Of the 43 companies listed, 28 made gains, seven went down and seven remained unchanged while one company’s shares was not traded. Islamic Holding share jumped 4.13 percent to QR146.40, up by QR5.80. Qatar National Bank shares maintained parity, closing at QR217, the same value as Tuesday.
The top mover today from banks, in terms of percentage gain, was Ahli Bank, up 3.54 percent to QR55.50, recovering well from Tuesday’s 5.8 percent drop to QR53.60. Commercial Bank of Qatar was up 1.77 percent to QR74.80, Doha Bank was up 1.36 percent to QR59.80 while Masraf Al Rayan was up 1.35 percent to QR52.50.
All real estate companies closed in the green, barring Mazaya which went down 1.62 percent to QR24.30. Ezdan Holding witnessed a voluminous exchange of 11,910,331 shares from 2,012 transactions for a value of QR245.035m. Its shares closed the day at QR20.10, up 0.5 percent.
Meanwhile, most stock markets in the Middle East rose on the back of generally positive third-quarter earnings, but bourses in Dubai and Saudi Arabia, which had outperformed the region earlier in the week, pulled back on profit-taking.
Abu Dhabi’s index rose 1.1 percent, largely on the back of First Gulf Bank, which jumped 3.1 percent. The lender beat analysts’ estimates this week with a 20 percent increase in third-quarter net profit. Shares in National Bank of Abu Dhabi edged up 0.7 percent after it reported a 32 percent rise in third-quarter net profit, slightly ahead of estimates. The lender made Dh1.37bn ($373m) in the quarter.
Egypt’s bourse also continued to rally and jumped 2.4 percent as most blue chips gained. However, shares in Sidi Kerir Petrochemicals fell 2.3 percent after it reported a 26 percent drop in nine-month net profit.
Dubai’s index closed 0.1 percent down after going up as much as 1.4 percent during the session. Lender Emirates NBD, whose shares often move sharply because of limited liquidity, was the main drag, falling 2.0 percent.
Developer Union Properties, which rose earlier in the session, closed 0.6 percent down while Emaar Properties and Deyaar gave up all gains and were flat. Dubai had outperformed the region, gaining 8.3 percent between October 19, when markets began to recover, and Tuesday’s close.
Saudi Arabia’s bourse which was the second-best performer in the same period, rising 6.5 percent; it also pulled back yesterday and closed 0.8 percent down. One of the major drags was Saudi Basic Industries, which this week posted a 4.5 percent decrease in third-quarter profit on Sunday.
The Saudi insurance sector index fell 2.5 percent despite strong results posted by a number of companies. The benchmark had gained 19 percent since the beginning of last week, well ahead of the overall market.
HIGHLIGHTS
DUBAI: The index slipped 0.1 percent to 4,622 points.
ABU DHABI: The index rose 1.1 percent to 4,950 points.
SAUDI ARABIA: The index edged down 0.8 percent to 10,082 points.
EGYPT: The index gained 2.4 percent to 8,952 points.
KUWAIT: The index edged up 0.5 percent to 7,372 points.
OMAN: The index inched down 0.03 percent to 6,979 points.
BAHRAIN: The index edged up 0.2 percent to 1,439 points.
QNA/Reuters
