Doha: Qatar Exchange index ended its losing streak yesterday adding 11.98 points (or 0.14 percent) to advance to 8,345.97 points from 8,333.99 on Tuesday.
The volume of the shares traded fell to 2,704,562 from 3,256,842 on Tuesday, and the value of shares decreased to QR152,873,661.90 from QR156,204,793.82 on Tuesday.
Among the top gainers were Commercial Bank of Qatar which was up 0.42 percent to QR71.80, Industries Qatar rose 0.07 percent to QR152.10, Qatar Insurance gained 1.36 percent to QR67.00 and Doha Bank up by 0.79 percent to QR51.
The banking and financial sector index was up 2.24 points while consumer goods and services sector index rose 3.53 points. The industrial sector was lost 1.02 points while insurance sector added 15.71 points.
Meanwhile, foreign buying lifted Egypt’s bourse to a three-week high yesterday, helping the index recover most of the losses sparked by President Mohamed Mursi’s decree last month that expanded his powers and triggered a political crisis.
Cairo’s index jumped 2.8 percent to its highest close since November 22. Palm Hills Development surged 9.4 percent, the most active stock on the index. Talaat Mostafa Group followed, with a 6.4 percent gain. Citadel Capital climbed six percent.
Arab and non-Arab foreign investors were net buyers on the bourse, according to its website.
Investors were little moved after Egypt’s finance minister said a $4.8bn International Monetary Fund loan, seen as a cornerstone of its economic recovery hopes, would be delayed until next month.
Egypt’s army planned on Wednesday to host unity talks to tackle a political crisis surrounding a referendum on a new constitution, but talks were postponed later in the day.
The main opposition coalition is pushing for a “no” vote in a referendum this week on a constitution shaped by Islamists they oppose rather than boycott, while Egyptians abroad began to vote.
Elsewhere, Saudi Arabia’s index advanced 0.1 percent, up for a fifth session in last six. Banks supported with the sector’s index rising 0.4 percent.
Al Rajhi Bank gained 0.4 percent, Samba Financial Group added 0.9 percent and SABB rose 1.3 percent.
Elsewhere, Kuwait’s bourse gained in strong trading value, up for a fourth straight session, as investors bet on stronger fourth-quarter earnings. The index climbed 0.2 percent.
Agencies
