Doha: Qatari stocks surged yesterday on the back of buying support from local and foreign investors. The QE Index soared 206 points or 1.5 percent to close at 13,875 points yesterday. Local investors led the rally as their share in total buy trades was around 54 percent. The optimism in the market was so high that the QE Index crossed 14,000 mark during the intra-day trading.
The index began trading at 13,669 and touched the intra-day high of 14,158 points before closing at 13,875 points. Investment Holding Group, Qatar Oman for Investment and Qatar Islamic Bank were among the top gainer which increased 8 percent, 4 percent and 3.5 percent, respectively. Qatar Islamic Insurance, Dlala Brokerage & Investment Holding and Salam International that lost 5.5 percent, 2.5 percent and 2 percent in yesterday’s trade.
The volume of shares traded increased to 493.14 million yesterday from 327.34 million on Tuesday and the value of shares increased to QR1.58bn from QR771.96m on Tuesday. The indices of five sectors ended in green zone and two sectors ended red zone today. QSE Total Return Index gained 1.51 percent 28,311.38, QSE Al Rayan Islamic index increased 0.97 percent to 5,639.75 points and QSE All Share Index up 1.39 percent 4,429.55 points.
It was the third day of straight gains for Qatari shares. On Tuesday, the QE Index rose 0.8 percent to close at 13,669.9. The Industrials and Real Estate indices led the gains.
The index rose on the back of buying support from non-Qatari shareholders despite selling pressure from Qatari shareholders. The QE Index had risen 0.4 percent to close at 13,563.9. The Insurance and Real Estate 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.
