Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- QE index hits fresh highs on banking support  Join our daily free Newsletter

MENAFN - The Peninsula - 06/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar's bourse extended its record-breaking spree with the main index hitting a new peak after adding 1.04 percent to finish at 12,987.95 yesterday, breaking the recent high of 12,939.80.

The index continues to advance on the back of strong buying interest from Qatari individuals and foreign institutions.

Industrials sector rose the most with the Investors surging 6.44 percent. Banks and financials gained 1.08 percent with International Islamic and QIB edging 2.24 percent and 2.16 percent up, respectively. QNB advanced 1.76 percent. Real estate sector added 1.31 percent with Barwa adding 1.56 percent. Ezdan slipped 1.59 percent.

The bourse's market cap rose to QR733bn from Sunday's QR727bn. Total traded value rose to QR1.25bn from QR1.00bn. Traded volume surged to 32 million shares from 30 million shares.

Last week, QE indices entered a correction process after the general index reached the highest level in its history. The transactions of the week coincided with disclosure of the first quarter financial results. The combined profit of other listed companies in Qatar grew 8.6 percent year-on-year in the first quarter.

The index may face resistance at the psychologically important 13,000 point level or the historical intra-day high of 13,069 points reached in 2005. "Once the market breaks that, we may see some more upside," Reuters quoted Shakeel Sarwar, head of asset management at Securities & Investment Co in Bahrain as saying. Sarwar said the upswing reflected the "general bullish mood among investors in the region".

Elsewhere, Dubai's bourse gained 1.6 percent, led by Dubai Islamic Bank, which added 6.3 percent. The lender's shares have been rising since last Thursday when it posted a doubling of first-quarter net profit and said it was in talks to buy a 40 percent stake in an Indonesian Islamic lender.

Abu Dhabi's index rose 0.6 percent, buoyed by First Gulf Bank, whose shares were up 1.5 percent. RAKBank, Abu Dhabi Islamic Bank, Commercial Bank International and United Arab Bank were also among the main supports. In Bahrain, Arab Banking Corporation continued its bull run, adding 6.9 percent. Saudi Arabia's main index edged down 0.2 percent as several stocks that had driven the upswing for the last three sessions retreated.

 


The Peninsula




  MENA News Headlines
 Aug 2 2015 - Mine Blast Kills One Soldier, Injures Four in Northeast TurkeyQatar News Agency
(MENAFN - QNA) A Turkish soldier were killed and four others were injured in a mine blast in the Turkish northeast province of Kars, security sources said. Turkey's Anadolu Agency reported that ...

 Aug 2 2015 - Turkish Prime Minister Meets HE Qatar's Minister of State for DefenseQatar News Agency
(MENAFN - QNA) Turkish Prime Minister Ahmet Davutoglu met Sunday with HE Qatar's Minister of State for Defense Affairs Major-General Hamad bin Ali Al Attiyah and his accompanying delegation on the ...

 Aug 2 2015 - HE Prime Minister Meets US Assistant Secretary of StateQatar News Agency
(MENAFN - QNA) HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani met Sunday with US Assistant Secretary of State for Near Eastern Affairs Anne Patterson and ...

 Aug 2 2015 - Kuwait Stock Exchange ends Sunday's session on mixed boardSaudi Press Agency
(MENAFN - Saudi Press Agency) Kuwait Stock Exchange (KSE) ended Sunday's session on mixed board as the weighted index gained 1.42 points reaching 420.33 points, the price index lost 16.99 points ...

 Aug 2 2015 - Muscat Securities Market Loses 2 PointsSaudi Press Agency
(MENAFN - Saudi Press Agency) Muscat Securities Market (MSM) general index (30) today lost (2.86) points, comprising a decline by (0.04%) to close at (6555.32) points, compared to the last session, ...

 Aug 2 2015 - Supervisor of King Salman Center for Relief receives Yemeni Information MinisterSaudi Press Agency
(MENAFN - Saudi Press Agency) Adviser at the Royal Court and General Supervisor of King Salman Center for Relief and Humanitarian Aid Dr. Abdullah bin Abdulaziz Al-Rabiah received Yemeni information ...

 Aug 2 2015 - More than 400,000 Yemenis corrected their situations in the KingdomSaudi Press Agency
(MENAFN - Saudi Press Agency) The General Directorate of Passports announced that the number of brothers of the Republic of Yemen who have corrected their situations of residency in the Kingdom ...

 Aug 2 2015 - Governor of Riyadh Region Receives Pakistan's AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Republic of Pakistan to the Kingdom Manzoor Al-Haq.During the ...

 Aug 2 2015 - Vice Custodian of the Two Holy Mosques Congratulates Niger's President on Independence DaySaudi Press Agency
(MENAFN - Saudi Press Agency) The Vice Custodian of the Two Holy Mosques Prince Mohammed bin Naif bin Abdulaziz has sent a cable of congratulations to President Issoufou Mahamadou of the Republic of ...

 Aug 2 2015 - Iraqis Protest Electricity Shortage During Heat WaveThe Arabian Post
(MENAFN - The Arabian Post) In the Iraqi summer, when the temperature rises above 120 degrees Fahrenheit, electricity becomes even more of a political issue than usual. This past week, at the top of ...

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