QSE raises 5.5% in H1-18; ranks 2nd among GCC peers

QSE raises 5.5% in H1-18; ranks 2nd among GCC peers
The Qatari bourse ranked the 2nd in terms of GCC market index performance

Mubasher: The general index of the Qatar Stock Exchange (QSE) saw a 5.52% increase by the end of June, registering 9,024 points, compared to 8,620 points in January.

The Qatari bourse ranked the 2nd in terms of GCC market index performance, following the Saudi Stock Exchange (Tadawul), which rose 15.51%, according to the QSE's report on Sunday.

While the Abu Dhabi Securities Exchange (ADX) ranked the 3rd after its general index went up 3.32%, the report found. 

On the flipside, both Bousra Kuwait’s indices and the Dubai Financial Market’s (DFM) index dropped 6.20% and 16.91%, respectively.

Although the QSE has only 45 listed firms, marking the lowest number among its GCC peers, it ranked the second, the report found. 

The Qatari bourse’s daily traded value levelled up 2.5% year-on-year for the first half of 2018, while market capitalisation hit $135 billion in H1-18, according to QSE’s statement to Mubasher.

Foreign trades witnessed an increase in the first six month of 2018 as their buying transactions jumped 41% year-on-year, registering QAR 21.8 billion. Meanwhile, sell-off deals rose 21% to QAR 17.6 billion during the same period, the report showed.

The QSE attributed the increase to the results of the periodic reviews by FTSE Russell and MSCI at the end of the first half of 2018.

Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic and trade ties with the gas-rich state, accusing Qatar of financing terrorism. Doha forcefully denies the charges.