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
 Sep 1 2016 - Veeam to Educate Middle East Organizations about Transitioning from Legacy Backup to Availability Solutions for the Modern Data Centre at GITEX 2016MENAFN Press
(MENAFN Press) DUBAI, UAE, 1st September, 2016: VeeamĀ® Software, the innovative provider of solutions that deliver Availability for the Always-On Enterpriseā„¢, has reiterated its commitment to ...

 Sep 1 2016 - Morocco- Moroccan Pastoral: At Home Among FriendsMorocco World News
(MENAFN - Morocco World News) Northern Morocco - of years long gone, of places now completely unrecognizable; across all that time-imaginary and real - there's still one constant: friendship. Having ...

 Sep 1 2016 - Morocco Ranks 28th Friendliest Country in the WorldMorocco World News
(MENAFN - Morocco World News) Morocco has Ranked 28th Friendliest Country Worldwide for Expatriates, Higher Than France, Germany and Finland. A new report titled Expat Insider 2016, released by ...

 Sep 1 2016 - Gabon opposition reject Bongo election 'victory'The Peninsula
(MENAFN - The Peninsula) (FILES) This file photo taken on August 28, 2016 shows Gabon's incumbent president Ali Bongo Ondimba speaks to members of his campaign at election offices in Libreville.AFP / ...

 Sep 1 2016 - Damas begins 'Made in UAE' journey: CEOKhaleej Times
(MENAFN - Khaleej Times) Damas has started its journey from being a home grown brand to its new identity of 'Made in UAE' with the opening of its new facility in Nad Al Hamar, said Anan Fakhreddin, ...

 Sep 1 2016 - UAE maintains global ranking in ICT indexKhaleej Times
(MENAFN - Khaleej Times) The UAE has maintained its 12th position global ranking in the Information and Communications Technology (ICT) index, one of the key indicators included in the 2016 Global ...

 Sep 1 2016 - Nakheel to bring DoubleTree to Al Khail AvenueKhaleej Times
(MENAFN - Khaleej Times) Nakheel has signed a Letter of Intent with Hilton Worldwide to manage a new, 256-room hotel at Jumeirah Village Triangle. Under the proposed agreement, the 18-storey hotel ...

 Sep 1 2016 - UAE- DIFC on track to meet 2024 targetsKhaleej Times
(MENAFN - Khaleej Times) Dubai International Financial Centre (DIFC) is on track to meet its 2024 targets as it achieved major milestones of over 21,000 employees and over 1,500 firms in the centre ...

 Sep 1 2016 - Liquid Fertilizers Market Worth 13.48 Billion USD by 2021MENAFN Press
(MENAFN Press) PUNE, India, September 1, 2016 /PRNewswire/ -- The report "Liquid Fertilizers Market by Type (Nitrogen, Phosphorus, Potash, Micronutrients), Mode of Application (Soil, Foliar & ...

 Sep 1 2016 - Bahrain Economic Development Board Opens Office in Hong KongMENAFN Press
(MENAFN Press) MANAMA, BAHRAIN - Media OutReach - 1 September 2016 - The Bahrain Economic Development Board (EDB) is pleased to announce the launch of its Hong Kong office. The Bahrain EDB is a ...

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