(MENAFN- The Peninsula) Sachin Kumar |
The Peninsula
Qatari Stocks continued their gaining streak in the second week of February with Qatar stock exchange (QE) index rising over 150 points during the week.
This was the second consecutive week of gains for the index which closed yesterday at 12,809 points compared to the closing of 12,655 points on February 3, registering a weekly gain of 154 points or 1.22 percent.
During the intraday trade, the QE Index declined marginally on Thursday by recording a fall of just 8 points.
Since the start of this month, the QE Index has gained 300 points as the index had risen 146 points during the first week of February. The new year has been good for the stock market as the QE Index has jumped 1,184 points or around 10 percent since the start of 2022.
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The benchmark index had closed at 11625 points on December 2021. Trading value during the second week reached QR3.1bn and the trading volume reached 901.9 million with 59,545 transactions. The market capitialisation during the week reached QR731bn.
On Wednesday, the QE Index rose 1.1 percent to close at 12,817.3. The Industrials index led the gains. The index rose on the back of buying support from GCC, Arab and foreign shareholders despite selling pressure from Qatari GCC shareholders.
Industries Qatar and Qatar Aluminum Manufacturing Co. were the top gainers, rising 8.1 percent and 5.7 percent, respectively. Among the top losers, Qatar Industrial Manufacturing Co fell 6.3 percent, while Mannai Corporation was down 3.8 percent.
On Monday, The QE Index declined marginally to close at 12,673.0. The Transportation and Insurance indices led the losses.
The index fell on the back of selling pressure from GCC and non-Qatari shareholders despite buying support from Qatari shareholders. Mannai Corporation and Qatari Investors Group were the top losers, falling 2.4 percent and 2.1 percent, respectively.
Among the top gainers, Islamic Holding Group gained 9.5 percent, while Qatar Industrial Manufacturing Co was up 5.4 percent.
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