DOHA: QSE benchmark index rose 1.25 percent to 10,157 points, confirming a break above technical resistance at 10,003-10,028 points. The market is up 19.17 percent year-to-date (YTD).
Industries Qatar was up 2.9 percent and QIB added 1.79 percent after its net profit for the first nine months of this year increased. QIB’s profit grew by 13 percent to QR2bn, the bank announced yesterday.
“Higher close today would confirm break above technical resistance at 10,003-10,028 points, the peaks in August and September. This would trigger minor bullish triangle formed by highs and lows since August and pointing up to at least 10,230 points. Index will stay medium-term bullish while it holds support on uptrend line from late August, now at 9,805 points,” Reuters reported. The volume of shares traded yesterday decreased to 7,904,640 from 8,880,381. The value of shares increased to QR309m from QR241m.
The entire sector indices ended green. Industrials sector rose the most by 2.24 percent. QSE Total Return Index increased 1.25 percent to 17,896.36 points and QSE Al Rayan Islamic Index gained 1.07 percent to 3,902.43 points. QSE All Share Index gained 1.16 percent to 2,983.00 points.
