DOHA: Banks lifted Qatari bourse to a near five year high as the benchmark index rose 0.44 percent to advance to 10,109.50 yesterday. Qatar International Islamic Bank (QIIB) rose 4.56 percent and Qatar Islamic Bank (QIB) was up 2.36 percent.
The bourse’s market capitalisation rose over QR550bn, after the benchmark index advanced five straight sessions. National Cement and Qatar Navigation were among other top gainers. National Cement rose 2.88 percent as Qatar Navigation gained 2.32 percent. Industries Qatar was up 0.63 percent
The Banking and Financial sector indices added 0.33 percent while Telecoms and Transportation sectors rose 0.80 percent and 0.86 percent respectively. The industrial sector gained 0.46 percent while insurance sector was down 0.20 percent.
Consumer Goods and Services sector index lost 0.08 percent.
The benchmark index gained 2.25 percent or 222.82 points during this week. The trading value increased by 101.03 percent to reach QR1.8bn. Trading volume increased by 144.54 percent to reach 48m shares, as against the previous week’s 19m. The number of transactions rose by 98.97 percent to reach 21,917 transactions as compared to 11,015 transactions in the past week.
Banks and financial services sector led trading value during this week accounting for 33.15 percent of the total value. Industries accounted for 17.75 percent. Transportation accounted for 17.61 percent and real estate accounted for 11.03 percent. Banks and financial services sector led the traded volume this week with 29.15 percent of the total traded volume. Real estate accounted for 20.70 percent, transportation accounted for 20.02 percent and industries accounted for 12.96 percent.
Banks and financial services led number of transactions traded this week with 28.84 percent of the total number of transactions. Industries accounted for 19.82 percent. Transportation accounted for 17.72 percent and real estate accounted for 13.72 percent.
Of the 42 listed companies, 28 ended this week higher while 10 fell and four remain unchanged. Qatar Navigation led the traded value this week with 8.74 percent of the total traded value. Qatar Gas Transport Company (Nakilat) accounted for 8.67 percent. Industries Qatar accounted for 8.12 percent.
Dubai rises 1.1 per cent
Dubai’s index rose 1.1 percent to its highest close since November 2008. The index broke out of a sideways pattern which had prevailed for two weeks; lagging second-tier property stocks surged once again. Union Properties jumped 10.4 percent, up for a fifth straight day as the stock played catch-up with the wider market. UP shares are up 37.5 percent year-to-date, compared with Dubai’s gains of 66.4 percent.