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
 Feb 1 2015 - HMG wins Excellence Prize for patient care from Arab HealthArab News
(MENAFN - Arab News) Dr. Sulaiman Al-Habib Medical Group (HMG) continues its noticeable attendance in the Arab Health Exhibition in Dubai this year as it has been rewarded with the Excellence Prize ...

 Feb 1 2015 - How to get a job done for 5 onlyArab News
(MENAFN - Arab News) It sounds like a crazy idea but you can actually get a brand new logo for your company or get 250 words translated or 1500 words proofread or your personal piano player for just ...

 Feb 1 2015 - Etihad Airways appoints first female Emirati airport managerArab News
(MENAFN - Arab News) Etihad Airways the national airline of the UAE has appointed Fatima Al-Kharousi as the first Emirati female airport manager. Based in Nagoya Japan she will be responsible for ...

 Feb 1 2015 - Saudi- Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Israeli occupation forces Arrest 10 Palestinian in West BankQatar News Agency
(MENAFN - QNA) Israeli occupation forces arrested since dawn today10 Palestinians in the West Bank amid heavy gunfire during incursions into the West Bank cities of Hebron, Bethlehem and ...

 Feb 1 2015 - 'Qatar Green Building Conference' to Take Place in Doha in AprilQatar News Agency
(MENAFN - QNA) Qatar Green Building Council (QGBC), a member of Qatar Foundation for Education, Science and Community Development (QF), has announced its upcoming inaugural annual conference. The ...

 Feb 1 2015 - Jordanian Government Condemns Execution of Japanese HostageQatar News Agency
(MENAFN - QNA) The Jordanian government strongly condemned on Sunday Daash killing of Japanese hostage journalist Kenji Goto. Jordanian Minister of Information Affairs and Government Spokesman Dr. ...

 Feb 1 2015 - Qatar Armed Forces General Command Issues Precautionary WarningQatar News Agency
(MENAFN - QNA) Qatar Armed Forces General Command forces has announced that the marine shooting range (O.B.D-28), located east of Mesaieed near Fasht Al-Hadid, will be active during the period from ...

 Feb 1 2015 - Qatar Computing Research Institute, Boeing to Host MLDAS 2015 in MarchQatar News Agency
(MENAFN - QNA) Building on the overwhelming success of last year's inaugural symposium, Qatar Computing Research Institute (QCRI) and Boeing are once again partnering to host the second edition of ...

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