Doha – Mubasher: The Qatar Stock Exchange’s (QSE) main index continued performing positively for the fourth consecutive day, as it closed Thursday at the level of 9,912.92 points after rising 0.52% or 50.89 points.
Al Rayan Islamic Index leapt 0.67% to 3,656.28 points, and the All Shares Index advanced 0.58% to 2,646.89 points.
The positive performance comes in line with earlier forecasts by a couple of analysts polled by Mubasher, expecting a fractional increase in the Gulf markets, buoyed up by stronger U.S. and European indices that the experts said will be contagious to the Gulf investors. However, other forecasts assumed that the bourses listed in MSCI Emerging Markets Index, which Qatar is one of them, will be hurt as they are most exposed to foreign investors whom portfolios were thought to escape the market under the Fed’s move to raise interest, a scenario that was not adopted by the investors in the Qatari bourse.
Trading volume closed at 5.61 million shares worth QAR 258.20 million through 3,869 trades, compared to 7.04 million shares valued at QAR 2.28 billion reached through 3,864 trades yesterday.
“Support levels were 9,850 and 9,900 points, and the resistances were 9,950, 10,000 and 10,100 points,” stock markets analyst Ayoub Eshban explained to Mubasher.
The consumer goods and services topped the winning sectors with a 2.73% increase, while telecom was the lowest as it decreased 2.35%.
Out of 42 shares, 24 closed at high rates, 13 others declined, and five were flat.
National Medical Care was the top gainer with a growth of 6.58%, whereas Qatar General Insurance and Reinsurance led the decliners by losing 5.69%.
Masraf Al Rayan was the most active in terms of traded volume and value with 1.1 million shares changed hands and liquidity near QAR 38 million.
QSE closed Wednesday with a rise of 0.74% or about 72.23 points to 9,862.03 points.
