Doha: Continuing its rising spree, the Qatar Stock Exchange (QE) Index reached a milestone of crossing 11,300 level yesterday. The QE Index gained 72.97 points, or 0.65 percent to close at 11,313.50 points. The rally was driven by buying support from Qatari and Arab investors.
The first few minutes of the trade was full of action as the index opened the trade at 11,245 points at 9.30 am and jumped to 11,272 points in the next 10 minutes. However, the index took breather and gradually moved up during the day. At around 12.44 pm, the index breached 11,300 points mark and floated above this psychological mark for rest of the trading session.
Shares in the local bourse have been on rising trend since last four trading sessions. The QE Index has jumped around 170 points in the last four trading sessions. The index had closed at 11,143 points on September 21.
Top gainers in yesterday’s trade were Qatar Aluminum Manufacturing, Mesaieed Petrochemical Holding Company and Industries Qatar rising 3.1 percent, 2.3 percent and 2.1 percent, respectively.
Qatar Cinema & Film Distributing, Qatar Islamic Insurance and Al khalij Commercial Bank lost 6 percent, 0.5 percent and 0.4 percent, respectively. The volume of shares traded increased to 176,399,181 from 157,740,591 on Thursday, and value of shares increased to QR 408,924,430.753 from QR 379,862,835.840 on Thursday.
Indices of six sectors ended in green zone and one sector in red zone yesterday. QSE Total Return Index gained 0.65 percent to 22,395.75 points and QSE Al Rayan Islamic index increased 0.90 percent to 4,755.08 points and QSE All Share Index added 0.49 percent to 3,575.28 points.
On Thursday, the QE Index had risen 0.6 percent to close at 11,240.5. The Industrials and Telecoms 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. Qatari German Co for Medical Devices and Qatar Aluminum Manufacturing Co were the top gainers, rising 3 percent and 2.9 percent, respectively. Among the top losers, Mannai Corporation fell 2.1 percent, while Qatar First Bank was down 1.3 percent. Volume of shares traded on Thursday rose by 27.6 percent to 157.7 million from 123.6 million on Wednesday.
