The Qatari bourse’s benchmark closed above the 13800 level for the first time since more than one month, helped by positive news about solving the dispute between GCC countries.
The index rose as much as 0.34% or 46.68 points to close at 13809.44 pts compared with 13762.76 pts on Monday.
Turnover declined from QAR 1.113 billion to QAR 815.77 million, and trading volume decreased from 17.16 million shares to 12.10 million shares.
Ali Al-Anzi, technical analyst at M&R Consultants Corporation, told Mubasher that the market was mainly boosted by positive news about political stability in the GCC region as well as the World Cup file.
He expected the index to break through the 14000 level in the next period, noting that most stocks such as Zad and Al Meera witnessed strong buying.
The banking sector rose 0.95%, as Qatar International Islamic Bank added 2.23% and Qatar Islamic Bank gained 2.2%.
The services advanced 0.93% on Medicare (+3.8%) and Zad (+3.4%).
The transportation edged up 0.50% on Qatar Navigation (+1.07%) and Gulf Warehousing (+0.30%).
The industrials closed 0.44% higher, boosted by Industries Qatar (+1.02%) and National Cement (+0.65%).
However, the real estate declined 1.45%, telecommunications (-0.15%) and insurance (-0.04%).
Technical analyst Khalid Al-Ansari said the index’s closure above the 13800 level is a good opportunity for buying. He added that the index has strong support at 13822, 13893 and 14008 pts.
Al-Ansari said the market will draw the attention of global portfolios in the next period.
(Written by Mahmoud Gamal; Translated by Abdul Maguid Aboshahla)