Posted on March 18, 2017

Qatar Stock Exchange (QSE) index saw a massive surge in liquidity yesterday investors wealth increased by QR3.69bn as market capitalisation surged to QR556.13bn yesterday compared to QR552.49 on Wednesday.

The total traded value jumped to QR2.2bn from QR502.8m on Wednesday while total transaction jumped around 87 percent to 9676 yesterday against 5182 a day before. Foreign Institutional Investors rushed to buy Qatari stocks that will see their investibility weights being doubled on Monday. Out of 22 companies in Qatar Exchange Index, 20 will see their weights doubled under the second tranche of the FTSE Qatar EM upgrade as announced in 2016. QSE index gained 69.17 points or 0.67 percent to close at 10,361.03 points yesterday.

“Yesterday was the day of high liquidity and most of the trade happened at the fag-end of the session. Foreign investor remained a net buyer of over QR1bn yesterday,” Ahmad Akl, Doha based financial analyst told The Peninsula. “Thursday was the last window of opportunity for investors as Qatar’s bourse will remain close on Friday and Saturday while European markets will be closed on Sunday,” he said. Global index provider FTSE Russell on February 17 had announced that the second 50 percent tranche of Qatar transitioning to Secondary Emerging market status within the FTSE Global Equity Index Series will be implemented in conjunction with the March 2017 semi-annual review, which is effective from the start of trading on Monday.

FTSE had announced in September 2015 that Qatar’s upgrade would be carried out in two steps, with a 50 percent tranche implemented in September 2016 and the remaining 50 percent in March 2017. Al Meera Consumer Goods Company, Barwa Real Estate, Commercial Bank of Qatar, Doha Bank, Ezdan Holding Group, Gulf International Services, Industries Qatar, Masraf Al Rayan, Medicare Group, Ooredoo, Qatar Electricity & Water Company, Qatar Gas Transport, Qatar Insurance, Qatar International Islamic Bank, Qatar Islamic Bank, Qatar National Bank, Qatar Navigation, Salam International Investment, United Development Company and Vodafone Qatar will see their investibility weights being doubled on Monday.

Aamal will have an increased investibility weight from 20 percent to 28 percent while Qatari Investors Group will retain unchanged investibility weight. From the 44 companies listed on QSE, shares of 40 saw trading yesterday. From these 23 gained and 16 companies closed lower while one company remained unchanged. Indices of four sectors ended in green and remaining three sectors ended in red. QSE Total Return Index gained 0.79 to 17,142.39 points. QSE Al Rayan Islamic Index up 0.88 percent to 4,094.61 points and QSE All Share Index added 0.81 percent to 2,910.82 points.

source: The Peninsula