Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- QE index hits fresh highs on banking support  Join our daily free Newsletter

MENAFN - The Peninsula - 06/05/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) Qatar's bourse extended its record-breaking spree with the main index hitting a new peak after adding 1.04 percent to finish at 12,987.95 yesterday, breaking the recent high of 12,939.80.

The index continues to advance on the back of strong buying interest from Qatari individuals and foreign institutions.

Industrials sector rose the most with the Investors surging 6.44 percent. Banks and financials gained 1.08 percent with International Islamic and QIB edging 2.24 percent and 2.16 percent up, respectively. QNB advanced 1.76 percent. Real estate sector added 1.31 percent with Barwa adding 1.56 percent. Ezdan slipped 1.59 percent.

The bourse's market cap rose to QR733bn from Sunday's QR727bn. Total traded value rose to QR1.25bn from QR1.00bn. Traded volume surged to 32 million shares from 30 million shares.

Last week, QE indices entered a correction process after the general index reached the highest level in its history. The transactions of the week coincided with disclosure of the first quarter financial results. The combined profit of other listed companies in Qatar grew 8.6 percent year-on-year in te first quarter.


The index may face resistance at the psychologically important 13,000 point level or the historical intra-day high of 13,069 points reached in 2005. "Once the market breaks that, we may see some more upside," Reuters quoted Shakeel Sarwar, head of asset management at Securities & Investment Co in Bahrain as saying. Sarwar said the upswing reflected the "general bullish mood among investors in the region".

Elsewhere, Dubai's bourse gained 1.6 percent, led by Dubai Islamic Bank, which added 6.3 percent. The lender's shares have been rising since last Thursday when it posted a doubling of first-quarter net profit and said it was in talks to buy a 40 percent stake in an Indonesian Islamic lender.

Abu Dhabi's index rose 0.6 percent, buoyed by First Gulf Bank, whose shares were up 1.5 percent. RAKBank, Abu Dhabi Islamic Bank, Commercial Bank International and United Arab Bank were also among the main supports. In Bahrain, Arab Banking Corporation continued its bull run, adding 6.9 percent. Saudi Arabia's main index edged down 0.2 percent as several stocks that had driven the upswing for the last three sessions retreated.

 


The Peninsula




  MENA News Headlines
 Feb 23 2017 - Wurl TV Gets Fashionable with FNL NetworkMENAFN Press
(MENAFN Editorial) PALO ALTO, Calif., Feb. 22, 2017 /PRNewswire/ -- Wurl TV announced today that it is adding fashion-news provider FNL Network to its growing list of TV channels that bring ...

 Feb 23 2017 - Notice of Annual General Meeting in Getinge ABMENAFN Press
(MENAFN Editorial) The shareholders of Getinge AB (publ) are hereby invited to attend the Annual General Meeting (the "AGM") to be held on Wednesday 29 March 2017 at 2.00 p.m. CET, in Kongresshallen, ...

 Feb 23 2017 - Arak Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024MENAFN Press
(MENAFN Editorial) Feb. 21, 2017 /PRNewswire/ -- Arak Market: Overview Read the full report: http://www.reportlinker.com/p04711317-summary/view-report.html Transparency Market Research (TMR) ...

 Feb 23 2017 - Computer Graphics Market, Education Graphics - Global Industry Analysis, Size, Share, Growth,MENAFN Press
(MENAFN Editorial) Feb. 21, 2017 /PRNewswire/ -- Computer Graphics Market: Overview Read the full report: http://www.reportlinker.com/p04711320-summary/view-report.html This report on the global ...

 Feb 23 2017 - Entrepreneur Magazine Recognizes Sojern with Top Ranking on 2017 Company Cultures ListMENAFN Press
(MENAFN Editorial) --> SAN FRANCISCO, Feb. 21, 2017 /PRNewswire/ -- Sojern, travel's leading performance marketing engine, was ranked 36 on Entrepreneur's Top Company Cultures list, in the Large ...

 Feb 23 2017 - Fraser Optics to Advance Global Reach With Major PartnerMENAFN Press
(MENAFN Editorial) ABU DHABI, United Arab Emirates, Feb. 21, 2017 /PRNewswire/ -- Fraser Optics, the leading supplier of handheld stabilized optics to the US Department of Defense, law enforcement ...

 Feb 22 2017 - ??? - لحمايتك من التجسس.. 5 نصائح عند استخدام شبكات الواى فاى العامةYoum7
(MENAFN - Youm7) استعمال شبكات الواى فاى العامة أمر جيد بالنسبة للكثيرين خاصة أنها مجانية، وتوفر باقات الإنترنت، لكن البعض يغفل المخاطر الأمنية التى قد يتعرضون لها عند استخدام هذا النوع من ...

 Feb 22 2017 - ??? - لحمايتك من التجسس.. 5 نصائح عند استخدام شبكات الواى فاى العامةYoum7
(MENAFN - Youm7) استعمال شبكات الواى فاى العامة أمر جيد بالنسبة للكثيرين خاصة أنها مجانية، وتوفر باقات الإنترنت، لكن البعض يغفل المخاطر الأمنية التى قد يتعرضون لها عند استخدام هذا النوع من ...

 Feb 22 2017 - ??? - لحمايتك من التجسس.. 5 نصائح عند استخدام شبكات الواى فاى العامةYoum7
(MENAFN - Youm7) استعمال شبكات الواى فاى العامة أمر جيد بالنسبة للكثيرين خاصة أنها مجانية، وتوفر باقات الإنترنت، لكن البعض يغفل المخاطر الأمنية التى قد يتعرضون لها عند استخدام هذا النوع من ...

 Feb 22 2017 - ??? - لحمايتك من التجسس.. 5 نصائح عند استخدام شبكات الواى فاى العامةYoum7
(MENAFN - Youm7) استعمال شبكات الواى فاى العامة أمر جيد بالنسبة للكثيرين خاصة أنها مجانية، وتوفر باقات الإنترنت، لكن البعض يغفل المخاطر الأمنية التى قد يتعرضون لها عند استخدام هذا النوع من ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help