Doha: Qatar’s stock market continues to maintain its bullish momentum. The Qatar Stock Exchange (QE) Index has not only ended the month on a positive note but has also wrapped up a week with strong gains. The Index has surged 279 points or 2.4 percent during October, reflecting the growing interest of domestic and global investors.
The index had closed at 11,485 on the last trading day of September and closed at 11,764 points on October 31. It was the second consecutive month of gains for the stock market has the index had surged close to 400 points in September, making it the highest monthly gain of 2021.
During the last week, QE Index has gained 134 points or 1.1 percent while the index gained 54.67 points, or 0.46 percent in yesterday’s trading session. The QE Index started trading at 11,885 points yesterday’s morning and closed at 11,940 points.
Trading value during last week accounted QR2.8bn and the trading volume reached 988 million with 59,951 transactions. Market capitalisation accounted QR689bn as compared to QR682bn at the end of the previous week.
On Wednesday, The QE Index rose 0.5 percent to close at 11,885.9. The Real Estate and Transportation 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.
On Tuesday, The QE Index rose 0.6 percent to close at 11,826.3. Gains were led by the Real Estate and Insurance indices, gaining 1.2 percent and 1.0 percent, respectively.
Top gainers were Gulf International Services and Aamal Company, rising 5.4 percent and 3.6 percent, respectively. Among the top losers, Qatar Industrial Manufacturing Co. fell 1.4 percent, while Gulf Warehousing Company was down 1.2 percent.
