Qatar Stock Exchange (QE) Index soared 103.4 points yesterday, taking it very close to the key psychological level of 10,500. The Index rose around 1 percent to close yesterday at 10,498.33 points- the highest level of the week. The rally was driven by buying support from individual and institutional investors.
The volume of shares traded increased to 570.38 million yesterday from 428.49 million on Tuesday while the value of shares increased to QR918.56m from QR580.52m on Tuesday.
Qatar Aluminum Manufacturing, Commercial Bank and Mannai Corporation were among the top gainers, as their shares rose 8.9 percent, 6.4 percent and 5 percent, respectively. Industries Qatar and Ezdan Holding both gained 2.7 percent, according to Qatar Stock Exchange data.
Indices of six sectors ended in green zone and one sector ended red zone yesterday. QSE Total Return Index increased 0.99 percent to 20,773.89 points and QSE Al Rayan Islamic Index gained 0.95 percent to 4,467.01 points. QSE All Share Index added 0.62 percent to 3,334.15 points.
It has been a mixed week for the stock market so far with QE Index registering gains in two trading session while falling in the other two sessions. The QE Index rose 0.2 percent to close at 10,394.9 on Tuesday. The Telecoms and Insurance indices led the gains. Qatari Investors Group and Investment Holding Group were the top gainers, rising 10 percent and 7.1 percent, respectively.
The index rose on the back of buying support from Qatari and Foreign shareholders despite selling pressure from GCC and Arab shareholders.
On Monday, The QE Index declined 0.6 percent to close at 10,374.4. Losses were led by the Banks & Financial Services and Real Estate indices, falling 0.7 percent and 0.5 percent, respectively. The QE Index had declined 0.2 percent to close at 10,440.5 on Sunday- the first trading session of the week.
