(MENAFN- The Peninsula) Most Middle Eastern stock markets rose yesterday as an improved global environment encouraged local retail investors to buy and positive corporate news in Qatar, Saudi Arabia and Egypt buoyed shares in those countries.
Qatar Exchange (QE) index gained 124.47 points, or 0.92 percent, with indices of all sectors ending in the green zone when the bourse closed at 13,623.33 points yesterday.
The traded value dropped to QR688m from QR1.1bn registered last Thursday. The traded volume today dropped to 14.6 million shares from 6,183 transactions compared to 18.8 million shares from 9,699 transactions on Thursday. The market capitalisation jumped to QR734.6bn from QR728.3bn registered on Thursday.
Insurance index gained the most today, up 1.45 percent to 4,089.76 points. Real estate gained 1.36 percent (2,765.41 points) and consumer goods and services was up 0.9 percent (7,277.02 points).
From the 43 listed companies, shares of 41 exchanged hands yesterday. From these 28 gained, nine went down and four remained unchanged.
Barwa Real Estate was the most heavily traded stock and surged 3.4 percent to QR44.40 after it announced a QR500m commercial development near downtown Doha, with construction expected to start in the second quarter of 2015 and completion slated for the beginning of 2017.
Qatar National Bank share gained 1.49 percent when it closed the day at QR217.50. Islamic Holding share continued its upward trend from last week, jumping 3.04 percent. It closed at QR156.
Positive gains by four out of the five listed insurance companies propelled the sector's index to 4,089.76 points at close.
Al Khaleej Takaful share gained the most, jumping 5.98 percent when it closed at QR48.75. Doha Insurance followed next with a gain of 5.07 percent to QR33.20. Qatar General Insurance share was not traded yesterday.
Elsewhere in the region, Dubai's index rose 1.6 percent to end at 4,616 points, off the day's peak of 4,671.
Abu Dhabi's index rose 1.4 percent with First Gulf Bank up 3.6 percent and Aldar Properties up 2.8 percent.
In Saudi Arabia, the main stock index climbed 0.6 percent.
Egypt's market surged 2.1
percent with property and construction-related shares performing well.
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