+ A
A -
Satyendra Pathak
Doha
Qatar’s stock market outperformed as most Gulf bourses ended higher on Thursday. Qatar Stock Exchange (QSE) main index gained 124.13 points, or 1.37 percent, at the end of Thursday’s trading to close at 9,211.89 points.
Qatar’s index gained on the back of petrochemical firm Industries Qatar advancing 4.6 percent and Qatar National Bank, the Gulf’s largest lender, gaining 2.6 percent.
The QSE index gained for the second day in a row after two Qatari lenders Masraf Al Rayan and Al Khaliji Commercial Bank said on Tuesday they had begun negotiating a potential merger that could create a combined entity with more than QR164 billion ($45.04 billion) in total assets.
Masraf Al Rayan that leapt 5 percent in the last session, however, eased 0.3 percent. Al Khaliji Commercial Bank, which is not part of the index, soared 10 percent, extending gains from the previous session.
The solid gains made on Thursday also helped the QSE main index to conclude the weekly trade on a positive note.
The QSE index increased by 26.9 points, or 0.29 percent, during the week. Market capitalisation increased by 1.85 percent to reach QR534.6 billion as compared to QR524.9 billion at the end of the previous week.
Of the 47 listed companies, 28 companies ended the week higher, while 19 fell. Ezdan Holding Group was the best performing stock for the week, with a gain of 32.7 percent.
Masraf Al Rayan, Ezdan Holding and Milaha were the primary contributors to the weekly index gain. Al Rayan was the biggest contributor to the index’s weekly gain, adding 29.2 points to the index. Ezdan was the second biggest contributor to the mentioned gain, piling 19.9 points on the index. Moreover, Milaha added 17.9 points to the index.
Trading value during the week increased by 49.5 percent to reach QR2.6 billion against QR1.7 billion in the previous week. The banks and financial services sector led the trading value during the week, accounting for 33.6 percent of the total trading value. Real Estate sector was the second biggest contributor to the overall trading value, accounting for 29.3 percent of the total trading value. Ezdan was the top value traded stock during the week with total traded value of QR485.5 million.
Trading volume increased by 37.2 percent to reach 1.7 billion shares against 1.3 billion shares in the previous week. The number of transactions rose by 10.8 percent to reach 45,571 against 41,137 in the previous week.
The real estate sector led the trading volume, accounting for 40.2 percent, followed by the banks and financial services sector comprising 20.4 percent of the overall trading volume. Ezdan was the top volume traded stock during the week with total traded volume of 449.5 million shares.
Foreign institutions ended the week with a change in direction as they net sold QR65.3 million against net buying of QR0.7 million in the previous week.
Qatari institutions remained positive with net buying of QR153.8 million against net buying of QR24 million in the week before.
Doha
Qatar’s stock market outperformed as most Gulf bourses ended higher on Thursday. Qatar Stock Exchange (QSE) main index gained 124.13 points, or 1.37 percent, at the end of Thursday’s trading to close at 9,211.89 points.
Qatar’s index gained on the back of petrochemical firm Industries Qatar advancing 4.6 percent and Qatar National Bank, the Gulf’s largest lender, gaining 2.6 percent.
The QSE index gained for the second day in a row after two Qatari lenders Masraf Al Rayan and Al Khaliji Commercial Bank said on Tuesday they had begun negotiating a potential merger that could create a combined entity with more than QR164 billion ($45.04 billion) in total assets.
Masraf Al Rayan that leapt 5 percent in the last session, however, eased 0.3 percent. Al Khaliji Commercial Bank, which is not part of the index, soared 10 percent, extending gains from the previous session.
The solid gains made on Thursday also helped the QSE main index to conclude the weekly trade on a positive note.
The QSE index increased by 26.9 points, or 0.29 percent, during the week. Market capitalisation increased by 1.85 percent to reach QR534.6 billion as compared to QR524.9 billion at the end of the previous week.
Of the 47 listed companies, 28 companies ended the week higher, while 19 fell. Ezdan Holding Group was the best performing stock for the week, with a gain of 32.7 percent.
Masraf Al Rayan, Ezdan Holding and Milaha were the primary contributors to the weekly index gain. Al Rayan was the biggest contributor to the index’s weekly gain, adding 29.2 points to the index. Ezdan was the second biggest contributor to the mentioned gain, piling 19.9 points on the index. Moreover, Milaha added 17.9 points to the index.
Trading value during the week increased by 49.5 percent to reach QR2.6 billion against QR1.7 billion in the previous week. The banks and financial services sector led the trading value during the week, accounting for 33.6 percent of the total trading value. Real Estate sector was the second biggest contributor to the overall trading value, accounting for 29.3 percent of the total trading value. Ezdan was the top value traded stock during the week with total traded value of QR485.5 million.
Trading volume increased by 37.2 percent to reach 1.7 billion shares against 1.3 billion shares in the previous week. The number of transactions rose by 10.8 percent to reach 45,571 against 41,137 in the previous week.
The real estate sector led the trading volume, accounting for 40.2 percent, followed by the banks and financial services sector comprising 20.4 percent of the overall trading volume. Ezdan was the top volume traded stock during the week with total traded volume of 449.5 million shares.
Foreign institutions ended the week with a change in direction as they net sold QR65.3 million against net buying of QR0.7 million in the previous week.
Qatari institutions remained positive with net buying of QR153.8 million against net buying of QR24 million in the week before.
