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QNA/Reuters
doha
Qatar’s stock market rose sharply on Thursday as its blue-chip shares gained after a spate of selling.
The Qatar Stock Exchange (QSE) index rose 1.1 percent (113 points), with 15 out of 20 stocks advancing.
Mesaieed Petrochemical Holding Company (MPHC) surged 7.1 percent to reach its highest since October 2018. The company had reported a 27 percent rise in annual profit and a hike in its dividend to 0.8 riyals ($0.2198) per share from 0.7 riyals.
Heavyweights Qatar National Bank (QNB) and Industries Qatar (IQ) gained 2 percent and 1.9 percent respectively.
Qatar was the best performing Gulf market in 2018 after a limit on foreign ownership of stocks was raised. It continued last year’s performance into January but began a downward trend in February.
The index is still 5.5 percent lower this month, but the latest rise suggests it has become attractive again to investors on cheaper evaluations.
Its listed companies are due to split their shares from one to 10 to satisfy a regulatory requirement, which will make the stocks even more affordable to buy, especially for smaller investors.
The QSE gained 250 points (2.51 percent) this week before the bourse closed trading on Thursday at 10,191.50 points.
Trading value during the week increased by 79.73 percent to reach QR1.61 million compared to QR QR0.90 million.
Trading volume increased by 78.75 percent to reach 52,563,392 shares, as against 29,405,863 shares, while the number of transactions rose by 42.19 percent, to reach 31,316 transactions as compared to 22,024 transactions.
Market capitalisation rose by 2.26 percent to reach QR578,4 million compared to QR565,64 million at the end of previous week.
Banking and financial Services sector led traded value during the week with 34.84 percent of the total traded value. Industries sector accounted for 28.55 percent, followed by consumer goods and services at 19.06 percent and real estate at 9.99 percent.
Industries sector led traded volume during the week at 43.91 percent of the total traded volume, follwed by banking and financial services at 20.91 percent, real estate at 19.36 percent and telecoms at 5.36 percent.
Industries sector also led traded number of transactions during the week at 40.67 percent of the total number of transactions, followed by real estate at 19.70 percent, banking and financial at 18.66 percent, and consumer goods & services at 8.14 percent.
From the 46 listed companies, 29 ended the week higher, 14 dropped, while three remained unchanged.
QNB led the trading value during the week accounted for 20.36 percent of the total traded value, followed by Qatar Fuel (15.53 percent) and Mesaieed Petrochemical Holding Company (10.16 percent.)
doha
Qatar’s stock market rose sharply on Thursday as its blue-chip shares gained after a spate of selling.
The Qatar Stock Exchange (QSE) index rose 1.1 percent (113 points), with 15 out of 20 stocks advancing.
Mesaieed Petrochemical Holding Company (MPHC) surged 7.1 percent to reach its highest since October 2018. The company had reported a 27 percent rise in annual profit and a hike in its dividend to 0.8 riyals ($0.2198) per share from 0.7 riyals.
Heavyweights Qatar National Bank (QNB) and Industries Qatar (IQ) gained 2 percent and 1.9 percent respectively.
Qatar was the best performing Gulf market in 2018 after a limit on foreign ownership of stocks was raised. It continued last year’s performance into January but began a downward trend in February.
The index is still 5.5 percent lower this month, but the latest rise suggests it has become attractive again to investors on cheaper evaluations.
Its listed companies are due to split their shares from one to 10 to satisfy a regulatory requirement, which will make the stocks even more affordable to buy, especially for smaller investors.
The QSE gained 250 points (2.51 percent) this week before the bourse closed trading on Thursday at 10,191.50 points.
Trading value during the week increased by 79.73 percent to reach QR1.61 million compared to QR QR0.90 million.
Trading volume increased by 78.75 percent to reach 52,563,392 shares, as against 29,405,863 shares, while the number of transactions rose by 42.19 percent, to reach 31,316 transactions as compared to 22,024 transactions.
Market capitalisation rose by 2.26 percent to reach QR578,4 million compared to QR565,64 million at the end of previous week.
Banking and financial Services sector led traded value during the week with 34.84 percent of the total traded value. Industries sector accounted for 28.55 percent, followed by consumer goods and services at 19.06 percent and real estate at 9.99 percent.
Industries sector led traded volume during the week at 43.91 percent of the total traded volume, follwed by banking and financial services at 20.91 percent, real estate at 19.36 percent and telecoms at 5.36 percent.
Industries sector also led traded number of transactions during the week at 40.67 percent of the total number of transactions, followed by real estate at 19.70 percent, banking and financial at 18.66 percent, and consumer goods & services at 8.14 percent.
From the 46 listed companies, 29 ended the week higher, 14 dropped, while three remained unchanged.
QNB led the trading value during the week accounted for 20.36 percent of the total traded value, followed by Qatar Fuel (15.53 percent) and Mesaieed Petrochemical Holding Company (10.16 percent.)
