By: Eman Ghaly
Mubasher: The Qatar Stock Exchange (QSE) ended Monday’s trading in the green, for the third session in a row, encouraged by the growth of four sectors, amid heavy trades.
The general index rose 0.69%, or 60.11 points, to 8,729.15 points.
The market's turnover inched up 0.2% to QAR 479.80 billion from QAR 478.66 billion on Sunday.
Qatar Petroleum’s decision of increasing non-Qatari investors' ownership in the listed state-run energy firms to 49% spurred further foreign investors, which resulted in high liquidity,financial analyst at Namaa Economic Consultancy Ahmed Maher told Mubasher.
The general index targets more growth amid expectation of hitting a resistance of 8,800 points, Maher added.
The QSE’s liquidity increased to QAR 310.02 million on Monday from QAR 274.66 million on Sunday, while the trading volume levelled up to 15.14 million shares against 10.73 million in the previous session.
The banking sector topped the QSE’s four gainers adding 1% as Qatar National Bank rose 1.05%.
Similarly, the industrial sector went up 0.29%, backed by Gulf International Services which increased 4.82%.
On the negative side, the goods sector topped the bourse’s decliners falling 1.73% as Zad Holding Group lost 6.31%.
Qatar First Bank’s stock, which advanced 3.20%, led the market in terms of trading volume with 3.2 million shares, while Mesaieed’s stock headed the QSE in terms of liquidity with QAR 39.1 million.
Translated by: Kholoud Mohamed Hussein
