Posted on May 26, 2018

Market capitalisation of Qatar Stock Exchange (QSE) surpassed QR500 billion as Qatari stocks made impressive gains on Thursday. The day also saw QSE's main index cross the psychological 9,000 mark as it rose 49.27 points, or 0.55 percent, to finish at 9,049.19 points.

The bourse continued its gaining momentum for the fourth trading session in a row. Five of the seven sector indices closed in the positive territory on the day that witnessed heavy liquidity. The bourse's liquidity witnessed a massive surge to QR890.59 million from QR 326.56 million on Wednesday. The trading volume too increased to 11.84 million at the end of the trade against 8.98 million in the previous session. The number of transactions also rose to 4.568 from 4,068 in the previous session.

The stock price of Mesaieed Petrochemical Holding Company (MPHC), which advanced 2.8 percent, led the QSE in terms of trading volume with 4.6 million shares. Qatar National Bank (QNB) stock, which inched up 0.01 percent, headed the market in terms of liquidity with QR108.8 million. The transportation sector index, which gained 2.16 percent, was the best performing sector index. Qatar Gas Transport Company (Nakilat), the main component of the transportation sector index, jumped 3.52 percent to lift the index higher.

Milaha (Qatar Navigation), another vital component of Qatar's transportation sector, also made gains of 1.31 percent to support the index. The consumer goods and services sector index, which gained 1.45 percent on the back of 3.13 percent in Zad Holding Company, was also instrumental in lifting the main index higher. Similarly, the banking sector also went up 0.25 percent after Masraf Al Rayan increased 2.13 percent. Both conventional and Islamic stocks gained on the day that saw 26 out of the 43 stocks traded closed in the green. While 14 stocks declined, there was no change in the share prices of three stocks.

source: Qatar Tribune