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QSE hovers over 10,000 pts Tuesday on robust quarterly earnings

QSE hovers over 10,000 pts Tuesday on robust quarterly earnings
The QSE’s liquidity increased to QAR 241.45 million on Tuesday

By: Eman Ghaly

Mubasher: The Qatar stock exchange (QSE) ended Tuesday’s trading session in green territorty, supported by a massive growth of all sectors.

The general index rose 197.47 points, or 2.01%, to finish the mid-week session at 10,031.59 points.

The market value of the bourse’s stocks rose 1.9% to QAR 559.55 billion from QAR 548.75 billion on Monday.

The QSE’s liquidity increased to QAR 241.45 million on Tuesday from QAR 188.33 million on Monday, while the trading volume went up to 8.88 million shares against 7.54 million in the previous session.

The general index exceeded 10,000 points more three times over the last period, which supports the bourse’s positive performance, financial market analyst Ahmed Akl told Mubasher.

The Qatari market is one of the top-performing markets since the beginning of 2018, as the benchmark jumped 17.69% in nine months, Akl added.

Added to that, the positive financial results of the Qatari listed companies, particularly the banking sector, has contributed to supporting the bourse.

Four listed companies posted their financial statements, namely Qatar National Bank (QNB), Qatar Islamic International Bank (QIIB), Masraf Al Rayan, and Dlala Brokerage and Investment Holding.

 Akl expects that the general index may reach resistance at 10,200 points in the coming period, then 10,400 points.

By the end of the session, the real estate sector topped the QSE’s gainers adding 3.19% as Mazaya Qatar Real Estate jumped 4.53%.

Similarly, the banking sector advanced 1.83% due to the heavyweight QNB’s 5.08% growth.

Industries Qatar’s stock, which levelled up 3.33%, led the QSE in terms of liquidity with QAR 30.6 million, while Mazaya Qatar Real Estate’s stock spearheaded the market in terms of trading volume with 3.5 million shares.

 

Translated by: Kholoud Mohamed Hussein