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-than-expected 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
 Dec 27 2014 - Saudi lifts up state spending to record in 2015MENAFN
(MENAFN) Saudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, The Peninsula Qatar reported.The government's decision is set to ...

 Dec 27 2014 - Flydubai logs record year in 2014MENAFN
(MENAFN) Flydubai said it had a record year in 2014, having launched 23 new routes and created a network of 89 destinations across the GCC, Europe, Africa and the Indian Subcontinent, Gulf News ...

 Dec 27 2014 - Saudi foreign trade to grow 5.5 percent in 2015MENAFN
(MENAFN) Saudi policies have been 100 percent successful as evidenced by the largest budget in the country's history for 2015, which envisages USD229 billion spending during the new year, Arab News ...

 Dec 27 2014 - UAE- Three arrested for stealing power cables worth Dh66 millionKhaleej Times
(MENAFN - Khaleej Times) Firms urged to guard construction sites with enough security staff Ras Al Khaimah: The Ras Al Khaimah (RAK) Police have arrested three Asian men for their involvement in ...

 Dec 27 2014 - Qatar A team clinches 16th GCC Volleyball Championship titleThe Peninsula
(MENAFN - The Peninsula) The winning Qatar A team's players pose for a group photo along with the officials after defeating Bahrain A team in the final of 16th GCC Beach Volleyball Championship at ...

 Dec 27 2014 - Bahrain- Anti-govt protestThe Peninsula
(MENAFN - The Peninsula) Shia protesters in Bahrain hold up national flag as they take part in an anti-government demonstration in the village of Jannusan, west of capital Manama, yesterday. The ...

 Dec 27 2014 - Jordan denies IS shot down its warplaneThe Peninsula
(MENAFN - The Peninsula) Jordan's military yesterday denied claims by the Islamic State group to have shot down one of its warplanes which crashed in Syria, after the pilot was captured by the ...

 Dec 27 2014 - Yemen- Protest in Sana'aThe Peninsula
(MENAFN - The Peninsula) People demonstrate against the deployment of armed militia of the Shia Houthi movement in Sana'a yesterday. ...

 Dec 27 2014 - Qatar- Gold loses sheen, to end 2014 on flat noteThe Peninsula
(MENAFN - The Peninsula) Gold has lost its sheen this year and is all set to end 2014 on a flat note, leaving investors disappointed. Prices are hovering around the same level seen at the beginning ...

 Dec 27 2014 - Qatar to host 19th meeting of GCC Environment MinistersThe Peninsula
(MENAFN - The Peninsula) Qatar has taken part in the 18th session of GCC ministers in charge of the environment in Kuwait.The Minister of Environment H E Ahmed Amer Mohamed Al Humaidi led Qatar's ...

more...


 






Google

Click to Apply

 
 

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