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Satyendra Pathak
Doha
Qatar’s stock market outperformed its Gulf peers on Monday as optimism over easing coronavirus restrictions boosted risk appetite. The main index of Qatar Stock Exchange (QSE) gained 174.94 points, 1.98 percent, when the bourse closed trading at 9,019.68 points on Monday.
The volume of shares traded increased to 193.594 million from 105.279 million on Sunday and the value of shares traded almost doubled to QR508.555 million from QR262.804 in the previous trading session.
The surge in Qatar’s index was boosted by a 10 percent jump in Ooredoo as the telecom major said that its unit will pay its global medium-term noteholders’ interest payment on June 22.
Six out of seven sector indices closed in the positive territory on the day that QSE’s market capitalisation rise by almost QR11 billion to QR511.555 billion.
Meanwhile, most major stock markets in the Middle East ended higher.
In Dubai, the index gained 1.5 percent as the emirate lifted restrictions on movement and allowed the business activity to restart. Saudi Arabia’s benchmark rose 1.1 percent.
Meanwhile, oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) is considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
Brent crude fell 15 cents, or 0.4 percent, to $37.69 a barrel, in the first day of trading in the contract with August as the front month.
West Texas Intermediate (WTI) crude futures for July delivery were at $35.36 a barrel, down 13 cents, or 0.4 percent.
The price falls come after the front-month Brent and WTI prices posted their strongest monthly gains in years in May. Gains were boosted by Opec crude production dropping to its lowest in two decades, with demand expected to recover as more nations emerge from coronavirus lockdowns.
Doha
Qatar’s stock market outperformed its Gulf peers on Monday as optimism over easing coronavirus restrictions boosted risk appetite. The main index of Qatar Stock Exchange (QSE) gained 174.94 points, 1.98 percent, when the bourse closed trading at 9,019.68 points on Monday.
The volume of shares traded increased to 193.594 million from 105.279 million on Sunday and the value of shares traded almost doubled to QR508.555 million from QR262.804 in the previous trading session.
The surge in Qatar’s index was boosted by a 10 percent jump in Ooredoo as the telecom major said that its unit will pay its global medium-term noteholders’ interest payment on June 22.
Six out of seven sector indices closed in the positive territory on the day that QSE’s market capitalisation rise by almost QR11 billion to QR511.555 billion.
Meanwhile, most major stock markets in the Middle East ended higher.
In Dubai, the index gained 1.5 percent as the emirate lifted restrictions on movement and allowed the business activity to restart. Saudi Arabia’s benchmark rose 1.1 percent.
Meanwhile, oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) is considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
Brent crude fell 15 cents, or 0.4 percent, to $37.69 a barrel, in the first day of trading in the contract with August as the front month.
West Texas Intermediate (WTI) crude futures for July delivery were at $35.36 a barrel, down 13 cents, or 0.4 percent.
The price falls come after the front-month Brent and WTI prices posted their strongest monthly gains in years in May. Gains were boosted by Opec crude production dropping to its lowest in two decades, with demand expected to recover as more nations emerge from coronavirus lockdowns.
