Performance of QE Index during the last week.
Qatar’s stock market ended the week on a positive week as shares registered strong gains during the past five trading sessions. The Qatar Stock Exchange (QE) Index has surged by over 320 points to close at 10,212.58 points yesterday from 9889.46 on previous Thursday. The weekly rise was supported by strong gains in stocks yesterday as the index surged 92.89 points, or 0.92 percent on Thursday. The value of shares increased to QR2.9bn from QR588.8m on Wednesday while the volume of shares traded reached 170 million from 278.6 million on Wednesday. The gains in stock markets were driven by mostly global news. Shares started the week on a strong note with news of Democratic Presidential nominee Joe Biden winning the US Presidential election.
On Monday, shares got another boost from global drugmaker Pfizer announced that its vaccine for COVID-19 was more than 90 percent effective in a large-scale clinical trial. The news triggered huge rallies in the stock markets around the world. Shares performed positively in the first trading session of the week as the QE Index rose 0.2 percent to close at 9,908.3 on Sunday. Gains were led by the Real Estate and Transportation indices, which gained 2.9 percent and 0.8 percent, respectively.
Top gainers were Salam International Investment Limited and Qatari German Company for Medical Devices, rising 10 percent each. On Monday, the QE Index rose 1.9 percent to close at 10,094.8. Gains were led by the Industrials and Real Estate indices that gained 4.7 percent and 2.4 percent, respectively. Top gainers were Qatari German Company for Medical Devices and Mazaya Real Estate Development which surged 10 percent each. Among the top losers, Mannai Corporation fell 1.2 percent, while Qatar General Insurance & Reinsurance Company was down 1.1 percent. On Tuesday, the QE Index rose 0.4 percent to close at 10,131.9. Gains were led by Consumer Goods & Services and Insurance indices, which rose 2.8 percent and 1 percent, respectively.
Top gainers were Mazaya Real Estate Development and Qatar Cinema & Film Distribution, rising 8.8 percent and 7.6 percent, respectively. Among the top losers Qatar First Bank which fell 6 percent, while Dlala Brokerage & Investment Holding Company was down 4.3 percent. On Wednesday, the QE Index went down marginally down by 0.1 percent to close at 10,119.7. Losses were led by the Real Estate and Industrials indices, which fell 1.4 percent and 1.2 percent, respectively. Top losers were Ezdan Holding Group and Al Khalij Commercial Bank, which fell 3.6 percent and 3.4 percent, respectively. Among the top gainers, Qatar Gas Transport Company Limited gained 10 percent, while Gulf International Services was up 6.8 percent.
During yesterday’s trade, indices of six sectors ended with gains, while one sector closed in the red zone. Among the sectoral indexes, QSE Total Return Index witnessed the highest increase yesterday as it gained 0.92 percent to close at 19,633.34 points. QSE Al Rayan Islamic Index increased 0.47 percent to close at 4,164.01 points. QSE All Share Index up 1.17 percent to close at 3,163.30 points.
