Qatar Exchange rallies; the cap more than 598 billions …

DOHA: Qatar bourse rallied for the fourth straight week gaining 232.28 points or 2.09 percent to close at 11,338.41 points last week. Mainly lifted by blue chips, the market capitalisation rose by 2.07 percent to QR598bn from the previous week’s QR586bn.

Overall trading activities decreased last week, both in terms of value and volume. Trading value decreased by 25.01 percent to QR2.3bn from QR3bn. Trading volume decreased by 24.44 percent to reach 48 million shares from 64 million, while the number of transactions fell by 13.38 percent to reach 25,492 last week from 29,428 transactions the previous week.

All the sector indices, except consumer goods and services, ended in positive territory. The Telecoms and the Banks gained the most. The Telecoms Index soared 8.50 percent. The Banking and Financial Services gained 2.17 percent. Insurance was up by 1.63 percent and Real Estate climbed 0.87 percent. The Industrials edged up 0.76 percent while the Transportation sector added 0.12 percent. The Telecom sector was lifted mainly by Ooredoo that surged by 9.65 percent. Vodafone gained 1.76 percent.

The Banking and Financial Services led trading value last week, accounting for 40.09 percent of the total, followed by Industrial sector, real estate and telecoms. QNB led trading value with 14.74 percent, followed by Industries Qatar and the Barwa Real Estate.

The trading volume was led by the real estate sector accounting for 29.3 percent of the total, followed by the Banking and Financial Services sector, Telecoms and Industrials. The Banking and Financial Services sector led the trading number of transactions, accounting for 31.48 percent of the total, followed by Industrials sector, Real Estate and Telecoms.

Of the 42 listed companies 21 ended higher last week, 17 fell and four remained unchanged.

The week ended with a strong note yesterday on continuing buying support from foreign institutions. The benchmark index closed at a new high advancing by 1.42 percent. Telecoms jumped by 5.40 percent. Industrials rose 1.43 percent and the Banking and Financial Services gained 0.83 percent. The Peninsula

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