Quotes: US 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
 Oct 21 2014 - Modi win in 2 states pave way for national overhaulArab News
(MENAFN - Arab News) NEW DELHI: It's been a good weekend for India's Prime Minister Narendra Modi.Two days ago he took his biggest step yet toward boosting the economy with a shift to more ...

 Oct 21 2014 - Sri Lanka heads for snap presidential poll in JanuaryArab News
(MENAFN - Arab News) COLOMBO: Sri Lanka will hold a presidential election in January almost two years ahead of schedule with Mahinda Rajapakse seeking a third term the information minister said ...

 Oct 21 2014 - Industries Qatar Posts QR 4.7 Billion 9Month Net ProfitQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - Riding on a third quarter net profit of QR 1.9 Billion Industries Qatar (QE: IQCD) posted a net profit of QR 4.7 Billion for nine-month period ...

 Oct 21 2014 - Lufthansa LongHaul Pilots Join StrikeQatar News Agency
(MENAFN - Qatar News Agency) Frankfurt October 20 (QNA) - Long-haul pilots of German Airline Lufthansa said Monday they will join a strike started by their short and medium-haul colleagues who are ...

 Oct 21 2014 - MediCare Group Qatar German Company Disclose Interim Financial StatementsQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - MediCare Group disclosed the interim financial statements for the period ending September 30 2014. The interim financial statements revealed a ...

 Oct 21 2014 - Pakistan's Army Chief Heads to IndonesiaQatar News Agency
(MENAFN - Qatar News Agency) Islamabad October 21 (QNA) - Pakistani Army Chief of Staff Gen. Rachel Sharif headed to Indonesia last night for a three-day visit. According to a statement issued by ...

 Oct 21 2014 - Qatar- HH the Emir Meets Azerbaijan's Emergency MinisterQatar News Agency
(MENAFN - Qatar News Agency) Doha Doha (date) - HH the Emir Sheikh Tamim bin Hamad Al-Thani met here Monday morning at Al Bahr Palace with Minister of Emergency Situations of the Republic of ...

 Oct 21 2014 - Bin Alawi Meets Tanzanian Parliament SpeakerQatar News Agency
(MENAFN - Qatar News Agency) Muscat October 20 (QNA) - Omani Minister in Charge of Foreign Affairs Youssuf bin Alawi bin Abdullah met here today with Speaker of Tanzanian Parliament Anne Makinda. ...

 Oct 21 2014 - Qatar- HH Sheikha Moza Opens 31st IASP World ConferenceQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - Chairperson of Qatar Foundation for Education Science and Community Development (QF) opened today the 31st World Conference of the International ...

 Oct 21 2014 - Qatar- BDF CommanderinChief Meets Commander of the Joint Peninsula ShieldQatar News Agency
(MENAFN - Qatar News Agency) Manama October 20 (QNA) - Commander-in-Chief of the Bahrain Defense Force (BDF) Field Marshal Sheikh Khalifa bin Ahmed Al Khalifa met here Monday with the Joint Peninsula ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help