By: Eman Ghaly
Mubasher: The Qatar Stock Exchange (QSE) ended Monday’s trading in the green, backed by the growth of five sectors, in addition to the bourse's decision to increase non-Qatari investors’ ownership to 49%.
The general index levelled up 154.94 points, or 1.76%, to finish at 8,936.77 points.
Qatar Central Securities Depository’s decision to raise non-Qatari investors’ ownership in four listed firms to 49% affected the QSE positively, financial analyst Ahmed Eid said.
The decision had been put into effect rapidly, which in return enhanced foreign portfolios in the QSE, in addition to raising the market’s liquidity, Eid added.
The QSE targets resistance at 9,100-point mark and is likely to reach 9,360 points on the back of announcing the financial disclosures as of next Tuesday, the analyst expected.
By the end of Monday’s session, the bourse’s liquidity surged to QAR 349.79 million from QAR 99.26 million on Sunday, while the trading volume jumped to 10.38 million shares against 4.45 million in the previous session.
The industrial sector topped the bourse’s gainer adding 2.61% as Qatar Electricity and Water Company grew 3.98%.
Similarly, the banking sector advanced 1.93% due to the increase of Al Ahli Bank and Qatar National Bank (QNB) by 4.81% and 2.10%, respectively.
On the flipside, the telecommunication sector topped the market’s losers falling 0.23% as Vodafone Qatar levelled down 2.46%.
The transportation sector inched down 0.04% on the back of Gulf Warehousing Company’s 0.27% drop.
Vodafone Qatar’s stock led the market in terms of trading volume with 1.9 million shares, while QNB headed the bourse in terms of liquidity with QAR 44.5 million.
Translated by: Kholoud Mohamed Hussein
