by Basheer Yusief Kahloot
QExchange index this week faced a strong resistance at 10375 points. The index continued to rise for four successive days before a pull-off by the end of the week.
As a result, benchmark index rose almost 92 points from the previous week.
Market capitalisation reached QR 555bn. The week witnessed some important market news, including the General Assembly of Salam, which ratified the terms and conditions of its business, by amending the mechanism of capital increase for the years 2002 and 2005.
Ooredoo priced successfully its first sukuk issuance, while Al Ahli bank signed a credit line agreement with the Arab Trade Financing Programme, and the UDC names its new Chief Executive Officer.
Because of the rise in the general index and the index of all-shares, the prices of shares of five sectors increased. Where the index of Transportation sector increased by 3.14 percent, followed by the index of Industry by 1.03 percent, Insurance sector rose by 0.92 percent, real estate sector rose by 0.68 percent and the banking sector rose by 0.34 percent. The Telecommunications and the Consumer Goods and Services dropped by 0.20 percent and 0.14 percent respectively.
The overall rise of the indexes was outcome of the increase in prices of shares of 25 companies. While 14 companies fell, three remained unchanged.
Vodafone was the top gainer followed by Nakilat. Ahli Bank lost by 4.55 percent, while Zad Holding Group dropped by 2.91 percent. The total trading volume decreased by 11.8 percent to the level of QR2290.15m, and the average of daily trading decreased to QR485m compared to QR649m the previous week.
The total share trading of top six companies amounted to about QR1088.6m, which represented 47.5 percent of the total value. Barwa Real Estate led the traded value this week with QR267.8, followed by Vodafone at QR201m. This was followed by the traded value on Investors Group accounted QR181.8m, United Developement Company with QR162.4m, then Al Rayyan at the value of QR157m, followed with Mazaya with QR118.7m.
The Peninsula
