Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar bourse index touches historic high  Join our daily free Newsletter

MENAFN - The Peninsula - 23/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar's bourse surged to its highest closing level ever, breaking its main index record yesterday on the back of a tenacious stock rally for six sessions in a row. The blue-chips did it with an exclamation point -- 12,939.80 blast as against the previous high closing of 12892.76 recorded on September 20, 2005.

"We are delighted to see the market break new highs - it's testament to the strength and organisation of listed companies, and to all stakeholders involved in developing the Qatari market", commented Rashid Al Mansoori, CEO, Qatar Exchange .

The benchmark index rose 1.34 percent yesterday pushing the bourse's gains to 24.67 percent this year making QE the second best index performer in the Gulf and one of the fastest growing markets in the world.

Analysts attributed a combination of positive sentiments to Qatar's stellar performance, including the investors' expectation on imminent MSCI upgrade, better-thaexpected first quarter results, rapprochement on regional rifts and the proposed big ticket projects.


Local market analyst Bashir Yousef Al Kahloud said 'the market is flooded with MPHC money'. "Qataris got a large amount of money in a small time. They are in a reinvestment mood. If you look at the trading pattern for the past two weeks, you could see huge buying interests from local individual investors. Shares of companies like Vodafone, Mazaya and Ezdan saw a huge jump over the past two weeks," he told The Peninsula.

There is huge amount of positive sentiment surrounding the market, volumes have doubled and we hope it's set to be a bumper year for the equity market, Al Mansoori said.

Shares of al khaliji and Nakilat surged yesterday. Al khaliji jumped 10 percent while Nakilat soared 8.53 percent. Qatar Electricity and Water edged up 1.92 percent and Ezdan closed 9.91 percent up. Market cap saw a huge jump from QR752bn to QR770bn.

 


The Peninsula




  MENA News Headlines
 Jul 27 2016 - Ascott, Bathel Alkhair agree on project in RiyadhMENAFN
(MENAFN) Ascott, a leading service residence owner-operator, is seeking to expand its operations in Saudi Arabia with plans for The Ascott Villas Riyadh.The company signed an agreement with Bathel ...

 Jul 27 2016 - Omran's to deliver three new hotels in MuscatMENAFN
(MENAFN) Oman Tourism Development firm (Omran), a leading tourism developer, heritage and multi-use projects, is on its way to deliver three new hotels in Muscat, boosting room's capacity in Oman by ...

 Jul 27 2016 - Dubai, Abu Dhabi witness Residential rents dropMENAFN
(MENAFN) Residential rents in Dubai and Abu Dhabi has experienced a remarkable drop during the first six months of this year, compared to the same period in 2015, according to a report.In detail, ...

 Jul 27 2016 - Libya fund picks PwC as official advisorMENAFN
(MENAFN) The Libyan Local Investment & Development Fund's (LLIDF) has chosen the professional services firm PwC as its advisor to enhance feasibility studies for three strategic schemes.By the ...

 Jul 27 2016 - Global companies battle to win Saudi projectsMENAFN
(MEANFN) A number of international firms have submitted bids for a consultancy deal to manage Saudi Arabia's National Project Management Office.In detail, a local report in Saudi has revealed that ...

 Jul 27 2016 - Kuwait- Visa for parentsArab Times
(MENAFN - Arab Times) I am in India and daily read the Legal Clinic column of your newspaper. I wish to get your advice on following problem, which you may or may not print it in newspaper. My son ...

 Jul 27 2016 - Kuwait- Landlord problems - Villa rentalArab Times
(MENAFN - Arab Times) First of all I would like to appreciate your service as it helps a lot in understanding the Kuwait laws. Getting further, our house owner has been creating problems for us. We ...

 Jul 27 2016 - It is Erdogan-Brotherhood coupArab Times
(MENAFN - Arab Times) Ahmed Al-Jarallah Editor-in-Chief, the Arab Times IT IS no longer hidden to anybody that Recep Tayyip Erdogan has turned what appears to be a botched coup d'etat, which to him ...

 Jul 27 2016 - Kuwait- Bachelor 'invasion'Arab Times
(MENAFN - Arab Times) I was living in one of the most peaceful residential areas an expat could dream for the last 12 years. I am talking about Block 1, Abu Halifa. In the last few years, a lot of ...

 Jul 27 2016 - Kuwait- Employees problemsArab Times
(MENAFN - Arab Times) I am writing to the Arab Times because I need advice regarding my employment status. Here's my story: Company A and company B went to a certain country to recruit employees. ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help