Satyendra Pathak
Doha
Qatari stocks outperformed regional peers as the Qatar Stock Exchange (QSE) index gained 207.26 points, or 2.05 percent, to close trading at 10,308.23 points on Tuesday.
The volume of shares traded increased to 203,523,821 from 197,009,282 on Monday and the value of shares increased to QR531,735,887.448 from QR474,212,489.538 on Monday. The indices of seven sectors ended in the green zone today.
QSE Total Return Index added 2.05 percent to 22,122.90, the QSE Al Rayan Islamic index gained 2.18 percent to 4,594.40 points and QSE All Share Index increased 1.88 percent to 3,446.15 points.
As many as 19 of the 20 constituent stocks ended higher. Sharia-compliant lender Masraf Al Rayan jumped over 6 percent, its biggest gain in over three years, while chemical makers Industries Qatar was up 2.9 percent.
The day saw QSE announcing that Wasata Financial Securities will start market-making activity for Masraf Al Rayan from April 2, 2023.
Meanwhile, most Gulf stock indexes closed higher on Tuesday, as fears of a banking contagion eased. At the same time, the rise in oil prices amid supply disruption risks and strong demand recovery in China also lifted sentiment.
“Improving sentiment has benefited GCC stock markets where performances were in the red lately as receding concerns over the US and European banking sectors have brought some relief for investors,” said Ahmed Negm, head of market research MENA at XS.com.
