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Doha stocks make marginal progress

Qatar: Tuesday, March 18 - 2008 @ 11:26

By Global Investment House

Volume of shares traded retreated by 15.32%, with 41.07million shares changing hands at a value of QR1.92bn. With regard to market breadth, the decliners outnumbered advancers, with 22 dropping in value and 17 seeing their price rise, while three stocks remained unchanged.

Investor wealth in terms of market capitalisation increased by 0.17% to reach QR412.35bn.

Global Services Index was the only gainer among Global sectoral indices. The index registered an increase of 2.02% on the back of 59.75% and 14.78% gains recorded in Islamic Financial Securities Company’s share price and Aamal Holding Company’s share price respectively.

Top gainers

The two stocks managed to lead the gainers list for. Other gainers in this sector were, Mannai Corporation (+2.61%) and Qatar Gas Transport (+2.25%). On the other side, Gulf Warehousing and National Leasing shed 5.62% and 5.34% of their share value respectively, and made it to the top losers list.

The other three Global sectoral indices lost value, led by Global Industrial Index which declined by 2.17% on the back of the widespread loss registered in this sector.

Among major losers in this sector, Qatari German for Medical Devices lost 4.57%, followed by United Development (-3.09%), Qatar Flour Mills (-3.01%) and Industries Qatar (-2.45%).

Qatar National Cement and Qatar Industrial Manufacturing were the only gainers in the sector, registering an increase of 1.56% and 1.17% respectively. The decline of 1.61% in Global Insurance Index was mainly attributed to the losses registered in Doha Insurance (-8.89%) to close at QR41.00.

Qatar Islamic Insurance was the only gainer in this sector, registering an increase of 2.15% to close at QR66.40.

Markets

Global Banking and Financial Institutions Index lost 0.03%. Al-Ahli Bank was the major loser among the sector, with a decline of 2.94%, while Qatar Islamic Bank was the prominent gainer, registering an increase of 5.81% to close at QR112.40 and made it to the top gainers list.

The services sector registered the highest volume traded accounting for 47.79% of the total volume (19.63mn shares) while Banking and Financial Institutions sector registered the highest value traded accounting for 43.72% (QR839.28mn) of the total value traded.

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Tuesday, March 18- 2008 @ 11:26 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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