(MENAFN- The Peninsula) Qatari stocks rebounded jumping 1.23 percent yesterday, after positive reports allayed FIFA World Cup 2022 fears. Blue chips were the main support.
The Qatar Exchange benchmark index surged 146.19 points to 12,048, recovering losses it suffered for two straight sessions following latest FIFA scandal reports.
Analysts noted the re-election of Joseph Blatter as FIFA President has sent positive vibes to market players.
Telecoms outperformed other sector indices, surging 7.76 percent. Vodafone rose 10 percent and Ooredoo advanced 6.90 percent. Bellwether Industries Qatar (IQ) edged up 2.31 percent and Commercial Bank gained 2.04 percent.
Ezdan, which tanked 10 percent in the previous session, was on A recovery mode. Despite slipping 0.93 percent yesterday, the real estate major was the market leader in terms of total value and volume traded.
Barring the real estate and insurance sectors, the entire sector indices rose yesterday. Consumer goods and services index advanced 1.55 percent as industrials advanced 1.44 percent. Banks and Financial Services rose 1.13 percent. The transportation sector added 0.51 percent.
Market cap rose to QR642bn, up QR9bn from the previous session. Total traded volume decreased to 16m shares from the previous session's 86m. Total traded value declined to QR517m from the previous session's QR2bn.
The bourse slipped 0.96 percent in May. Trading value during May increased by 62 percent. Trading volume increased by 97.12 percent, while the total number of transactions rose by 28.08 percent to 139,246. Market capitalisation fell by 1.71 percent at the end of May, showed QE data yesterday.
Saudi Arabia's main index edged down 0.7 percent as most stocks declined and trading volume was low compared with activity in the last few weeks. A fresh bomb attack by the Islamic State group may have hurt retail investor sentiment in the kingdom. Also, central bank data showed on Thursday that growth in bank lending to the private sector in Saudi Arabia slowed to an annual 9.5 percent in April, the lowest since September 2011, Reuters reports.
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