Doha: Qatar Exchange (QE) index gained 356.90 points, or 3.10 percent, last week when the bourse closed yesterday at 11,872.40 points. The bourse added 49.62 points, or 0.42 percent, yesterday from Wednesday’s close of 11,822.78 points, nearing 12,000 mark.
The trading value increased by 49.53 percent to touch QR4.14bn last week from QR2.77bn in the previous week, according to QE’s weekly bulletin yesterday.
The trading volume of 89.11 million shares last week is an increase of 26.48 percent compared to 70.45 million shares. The number of transactions increased 24.14 percent to 32,713 from 26,351 transactions. The market capitalisation of QR623.91bn is an increase by 3.47 percent as compared to QR602.98 at the end of previous week.
Banks and financial services led the traded value last week with 28.44 percent of the total. Industries accounted for 20.87 percent, while real estate sector accounted for 17.72 percent. Consumer goods and services accounted for 15.22 percent.
Real estate led the traded volume last week with 29.71 percent of the total. Banks and financial services accounted for 20.61 percent. Telecoms accounted for 20.21 percent. Consumer goods and services accounted for 12.27 percent. Banks and financial services had the highest number of transactions last week with 27.96 percent of the total. Industries accounted for 21.62 percent, while consumer goods and services accounted for 17.08 percent and real estate accounted for 14.65 percent. From the 42 listed companies, 31 ended last week higher, nine fell and two remained unchanged.
Industries Qatar topped the traded value with 15.34 percent. Barwa Real Estate accounted for 12.95 percent. Qatar National Bank accounted for 7.71 percent.
Elsewhere in the region, Kuwait’s bourse fell to a four-week low yesterday as investors sold shares because of concern that shares of companies which have not yet reported earnings could be suspended from trading. Most other markets in the region were firm. Kuwait’s main index slid 0.8 percent to its lowest level since January 19, while daily trading volume was the lowest so far this year.
In Dubai, the bourse resumed gaining after two sessions of losses as fresh money came in. The main index rose 0.7 percent, extending its 2014 gains to 24.1 percent. Abu Dhabi’s benchmark followed suit, advancing 0.7 percent to a new five-year high.
Some institutional investors remain concerned by the speed of Dubai’s gains, however. Some money leaving the UAE is going to Qatar, which is seen as a more stable market. “Qatar could benefit now from investors moving from UAE to Qatar,” said Ali Adou, portfolio manager at The National Investor. “Logically, it is defensive by nature. Local and international institutionals will take positions because of its discount.”QNA& Reuters
