DOHA — The Doha Securities Market (DSM) surged a hefty 70.21 per cent in 2005, according to a report in the Peninsula yesterday.
The market index increased by almost 4560 points since the beginning of the year to close at 11,053 at the end of trading on Thursday, which was the last day of trading in 2005 for the bourse.
Incidentally, 2005 was the year in which the market opened to foreigners (on April 3) and two new companies were listed.
The growth in 2004 was marginally less at around 65 per cent. The major gainer in 2005 was Woqod (Qatar Fuel Company). Its share price more than doubled from QR40 at the end of 2004 to QR86.20 by this year-end. The increase was a hefty 215.5 per cent.
The next advancer was Qatar Industrial Manufacturing Company (QIMC, listed as QIMD). Its share value went up by 165.39 per cent from QR39.30 to QR65 over the year. The third largest gainer was Qatar Cement, which registered a growth of 162.11 per cent, from QR28.50 to QR46.20 over 2005.
Companies that gained more than 100 per cent included Salam International, Qatar International Islamic Bank, Industries Qatar (IQ) and Qatar National Navigation and Transport Company.