QE index moves closer to 14,000 levels

12/11/2014 07:25 AST

Qatari bourse benchmark index inched closer to the psychological 14,000 mark yesterday, after the market advanced for a third straight day. Supported by Telecoms and Transportation sectors, the main index rose 0.70 percent to end the day at 13,788. Market cap jumped to QR744bn from the previous session’s QR739bn.

The Banking sector gained 0.78 percent with QNB gaining the most. The banking major, which secured a weighting increase in MSCI’s emerging market index last week, jumped 1.35 percent. Bellwether Industries Qatar, another stock which secured an increased weighting in the rebalancing, ended flat.

Ooredoo, Vodafone , Gulf International and the property developer UDC were the top gainers. Ooredoo gained 1.67 percent, while Vodafone edged 1.25 percent up. Gulf International added 2.20 percent as UDC appreciated by 2.94 percent. Total traded value rose to QR902m from QR875m. Traded volume, however, fell to 12 million shares from 16 million shares. The value of banking stocks increased to QR257m from QR218m. The value of Industrials stocks rose to QR220m from QR176m. Total value of real estate stocks fell to QR164m from QR313m.

Elsewhere, most stock markets in the Middle East gained, led by Dubai. Dubai’s index jumped 2.8 percent as Abu Dhabi’s benchmark rose 1.1 percent.


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QE 8,707.67 -14.08 (-0.16%)

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