(MENAFN- The Peninsula) Sachin Kumar |
The Peninsula
Qatari Stocks made an impressive start in February by registering strong gains in the first week of the month. The QE index has surged nearly 150 points in the past week helped by buying support from individual and institutional investors.
The index closed at 12,655 points yesterday compared to 12,509 points on January 27, reflecting a weekly gain of 146 points or 1.17 percent. One of the main highlights of the week was that the index witnessed gains in four trading sessions out of the five trading sessions. The index registered 44.49 points, or 0.35 percent in yesterday's trade.
Qatar General Insurance & Reinsurance was the top gainer in yesterday's trade as it shares went up by around 5 percent. Zad Holding and Ahli Bank gained 3 percent and 2.7 percent respectively. Trading value during this week amounted to QR2.9bn and the trading volume reached 855 million with 62,563 transactions.
Market capitalization increased to QR717bn from QR724.9bn at the end of previous week. On Wednesday, the QE Index rose 0.3 percent to close at 12,610.3.
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The Real Estate and Industrials indices led the gains. The index rose on the back of buying support from GCC, Arab and foreign shareholders despite selling pressure from Qatari shareholders. Mesaieed Petrochemical Holding and Gulf Warehousing Company were the top gainers, rising 3.4 percent and 2.7 percent, respectively.
Among the top losers, Islamic Holding Group fell 1.8 percent, while Doha Insurance Group was down 1.6 percent. On Tuesday, the QE Index rose marginally to close at 12,498.2.
The Insurance and Consumer Goods & Services indices led the gains. The index rose on the back of buying support from GCC and foreign shareholders despite selling pressure from Qatari and Arab shareholders. Al Khaleej Takaful Insurance Co. and Islamic Holding Group were the top gainers, rising 10 percent each.
Among the top losers, Doha Bank fell 2.8 percent, while Barwa Real Estate Company was down 2.2 percent. The QE Index declined 0.1 percent on Monday to close at 12,495.
The Telecoms and Consumer Goods & Services indices led the losses. The QE Index rose 0.2 percent on Sunday to close at 12,508.6. The Telecoms and Indus-trials indices led the gains.
The index rose on the back of buying support from foreign shareholders despite selling pressure from Qatari and GCC shareholders
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