Qatari bourse index adds 69.30 points

01/04/2011 00:00 AST

Qatar Exchange was in the green yesterday adding 69.30 points or 0.83 percent to 8,456.17 points from the previous closing of 8,386.87. Top gainers were Qatar National Bank which was up 1.55 percent to QR137.20, Barwa rose 1.70 percent to QR35.85, Qatar Electricity and Water gained 3.45 percent to QR137.90 and National Leasing up 2.85 percent to QR39.70. The banking and financial sector gained 101.45 points, the insurance sector added 46.66 points, the industrial sector was up 77.80 points and the services sector rose 52.80 points.

The index hit a three-week high, taking the benchmark up 6.7 percent in March. Industries Qatar gained 0.4 percent. The index is widely expected to outperform regional bourses this year on economic growth outlooks. Qatar’s GDP is forecast to grow 15.8 percent in 2011, according to a Reuters March poll.

Gulf markets closed mixed with Oman’s Renaissance falling to a 16-week low after the company scrapped plans for a $500 million London listing of its marine unit, Topaz. Oman’s index fell 1 percent to a four-week low as Renaissance Services dropped 3 percent.

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