The Qatar Exchange (QE) benchmark index extended its winning run to the fifth successive session, backed by active buying on blue chips and small-cap stocks, in addition to the decision of the Qatari Emir to raise pensions. The market rally was spurred mainly by bank, telecom and industrial stocks.
QE All Share Index rose 0.19% or 27.38 points to close at 14165.05 points, compared with 14137.67 points on Tuesday.
Turnover fell to QAR 470.92 million, from QAR 866.48 million yesterday. Traded volume also decreased to 9.75 million shares from 19.6 million shares.
The market saw tactic buying on several stocks topped by Islamic Holding (+2.4%), QNB (+1.6%), Islamic Insurance (+1.12%), Al Ahli Bank (+0.75%) QIB (0.6%) and Industries Qatar (+0.5%).
QE All Share Banks sector rose 0.5%, backed by Islamic Holding (+2.4%) and QNB (+1.6%).
QE All Share Telecoms gained 0.40% backed by leading stock Ooredoo (+0.37%) and Vodafone Qatar (+0.50%).
QE All Share Services also rose 0.29%, propelled by Salam (+1.2%), and Medicare (+0.62%).
Meanwhile, QE All Share Real Estate fell 0.94%, QE All Share Transport (-0.4%) and QE All Share Insurance (-0.11%).