Qatar- Banking sector pushes QE up by 46.68 points


(MENAFN- The Peninsula) Qatar Exchange index gained 46.68 points, or 0.34 percent, when the bourse closed at 13,809.44 points yesterday. Trading value dropped to QR815.773m from QR1.11bn on Monday. Trading volume dropped to 12,104,934 shares from 8,491 transactions compared to 17,164,758 shares from 8,489 transactions on Monday.

The market capitalisation increased to QR748.824bm from QR745.609bn registered on Monday.

Indices of four sectors ended in the green zone with banks and finance sector gaining the most, up 0.95 percent, closely followed by consumer goods and services 0.93 percent, transport 0.50 percent and industries 0.44 percent.

Three sectors ended in the red with real estate declining the most, down 1.45 percent to 2,789.9 points.

From the 43 listed companies, share of 42 were traded yesterday, of these 23 advanced, 15 declined and four remained unchanged.

Medicare share jumped 3.85 percnet to QR135, a substantial QR5. Its traded value reached QR26.32m with a volume of 196,303 shares from 266 transactions. Zad Holding too made fair gains, up 3.37 percent by QR3 to QR92.

Al Meera Consumer Goods Company continued its upward trend, up 2.79 percent by QR6.50 to QR239.60 at close.

From the real estate sector, United Development Company share was up 1.12 percent to QR27. Barwa share reversed its Monday's gains when it closed five percent lower by QR2.70 to QR51.30. Its traded value was QR81.26m with volume of 1,545,349 shares from 1,117 transactions.

Ezdan Holding share was down 0.31 percent to QR19.05 while Mazaya Qatar was down 2.13 percent to QR23.

Meanwhile, other markets in the Middle East pared some of the previous day's losses yesterday as global equities and oil prices rebounded and retail investors started buying stocks again.

Dubai's index added 1.4 percent as contractor Arabtec Holding jumped 3.6 percent and heavyweight developer Emaar Properties gained 2.3 percent.

Abu Dhabi's benchmark edged up 0.7 percent as both Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank jumped 3.2 percent.

The main Saudi index added 0.9 percent, having dropped 2.8 percent on Monday. Food maker Savola Group and petrochemicals giant Saudi Basic Industries were the main supports, up 2.5 and 2.2 percent respectively.

Shares in National Commercial Bank (NCB), the kingdom's biggest lender, dropped 5.8 percent to 61.50 riyals after surging by the daily 10 percent limit for four sessions in a row since its listing on November 12. The stock has gained 36.7 percent from the 45.00 riyals which local retail investors paid in the initial public offer.


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