(MENAFN- The Peninsula) The Qatar Exchange (QE) benchmark index extended its gains yesterday, after a volatile trading session. The main index fell below 11,550 levels during intraday trade before settling at 11673.45 points or 1.32 percent up from the previous session. Foreign investors were the net buyers.
QIB, Masraf Al Rayan, Vodafone Qatar and Qatar National Bank were the top gainers. Zad Holding, Ezdan, MPHC were the top losers.
QIB surged 4.5 percent and Masraf Al Rayan leapt 3.6 percent as QNB jumped 2.4 percent. Zad Holding shed 2.2 percent and Ezdan declined 1.9 percent, while MPHC fell 1.3 percent.
International Islamic advanced 1.96 percent and Commercial Bank increased 2.26 percent. Qatar Fuel and Industries Qatar were up 1.3 percent and 1.1 percent. Electricity and Water gained 2.1 percent, while Doha Bank fell 0.8 percent.
Vodafone, Barwa, Ezdan and Commercial Bank were the top movers. Total traded volume of Vodafone rose to 1.1million shares, up 2.29 percent from Monday.
Industries Qatar (IQ) was the value leader yesterday. Total traded value of IQ stood at QR55m.
Sector-wise, the banking and financial services was the best performer. The sector rose 2.56 percent. Of the 12 total banking stocks, just three fell. A total of 2 million shares worth QR152m exchanged hands yesterday. The real estate sector fell by 1.13 percent weighed by Ezdan and Barwa.
Elsewhere, the main Saudi index inched up 0.1 percent as food maker Savola Group extended its rebound, jumping 2.9 percent. Dubai's index edged up 0.3 percent as local stocks were mixed. Dubai Islamic Bank, up 2.0 percent, was the main support.
Builder Arabtec rose as much as two percent after winning a $283m contract from Saudi Aramco to build 380 villas in Saudi Arabia, but then came under renewed pressure and closed 1.2 percent lower.
On Sunday, Arabtec said it had swung to a net loss of Dh94.4m ($25.7m) in the fourth quarter of last year. It also proposed no cash dividend, offering a 5 percent bonus share issue instead, Reuters reported.
Abu Dhabi's bourse edged up 0.2 percent as Aldar Properties jumped 2.6 percent ahead of a dividend registration deadline and after announcing it had sold all 281 land plots at its new Al Merief development in just one week, which will generate 600 million dirhams of revenues in the coming quarters.
Oman's bourse rose 1.2 percent, its biggest daily gain in more than two months. Egypt's market inched down 0.1 percent in a lacklustre session. Ezz Steel tumbled 4.8 percent to 14.56 Egyptian pounds after two brokers cut their fair value estimates for the stock.
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