After witnessing a volatile trading sessions during the past week, shares in the Qatari stock market bounced back. The benchmark index, QE Index, surged over 100 points yesterday, helped by buying support from retail investors. The QE Index rose 118 points or 0.9 percent to close at 13397.6 on Thursday.
Investment Holding Group emerged as the top gainer in yesterday’s as its shares gained around 8 percent. The shares were up as the company announced that QFMA has approved IHG’s acquisition of Elegancia Group.
Zad Holding, Qatar Electricity & Water, Industries Qatar and Mesaieed Petrochemical Holding Co were also among the top gainers as their share gained 5 percent, 4 percent, 3 percent and 2.8 percent respectively.
Doha Insurance, The Commercial Bank and Qatar German for Medical Devices were among the top losers. The market capitalization reached QR757.8bn while trade value reached QR1.5bn, yesterday.
Of the total five trading sessions during the week, the index gained on two days while declined on three days.
In the past two trading days, Wednesday and Thursday, the QE Index gained nearly 162 points.
On Wednesday, the QE Index rose 0.3 percent to close at 13,279.7. The Transportation and Banks & Financial Services indices led the gains. The index rose on the back of buying support from non-Qatari shareholders despite selling pressure from Qatari and GCC shareholders.
Qatar International Islamic Bank and Qatar Gas Transport Company Ltd. were the top gainers, rising 3.3 percent and 1.8 percent, respectively. Among the top losers, Investment Holding Group fell 8.8 percent, while Mesaieed Petrochemical Holding was down 4.2 percent.
Volume of shares traded on Wednesday rose by 10.3 percent to 243.1mn from 220.5m on Tuesday. However, as compared to the 30-day moving average of 284.7m, volume for the day was 14.6 percent lower. Qatar Aluminum Manufacturing Co. and Salam International Inv. Ltd. were the most active stocks, contributing 16.4 percent and 15.5 percent to the total volume, respectively.
On Tuesday, The QE Index declined 1.7 percent to close at 13,236.8. The Industrials and Real Estate indices led the losses. The index fell on the back of selling pressure from Qatari shareholders despite buying support from GCC, Arab and Foreign shareholders. Among the top gainers, Qatar Cinema & Film Distribution gained 4.7 percent, while Qatar Industrial Manufacturing Co was up 2.9 percent. • Volume of shares traded on Tuesday fell by 38.9 percent to 220.5m from 360.5m on Monday.
Qatar Aluminum Manufacturing Co. and Investment Holding Group were the most active stocks, contributing 18 percent and 11.5 percent to the total volume, respectively.
On Monday, The QE Index declined 0.1 percent to close at 13,470.9. The Real Estate and Industrials indices led the losses. The index fell on the back of selling pressure from Qatari and Arab shareholders despite buying support from GCC and Foreign shareholders. Among the top gainers, Gulf International Services gained 5.4 percent, while QLM Life & Medical Insurance Co. was up 2.9 percent.
On Sunday, the QE Index declined 1.1 percent to close at 13,489. The index fell on the back of selling pressure from Qatari shareholders despite buying support from GCC, Arab and foreign shareholders.
