QE Index breaks record & Qatar equity market hits all-time high
QE Index set a new all-time high, closing at 12939.8, vs. the previous high closing price of 12892.76 recorded 20th September 2005. The index has recorded 24.67% already this year (30.11% with dividends reinvested) making it the 2nd best index performer globally YTD according to data by Bloomberg.
A 12 month streak has seen the blue chip index return 53.27 %, whilst it has trebled in value since the lows in March 2009.
Returns of this level extend to the All Share Index also which includes a wider 40 stocks – the benchmark returned 54.8% in the last 12 months with dividends reinvested.
Over half of QSE’s listed companies have returned beyond 20% this year, with 7 companies’ share price performance reaching between 50% and 150%. Top performers this year include Ezdan, Mazaya, Gulf International , Vodafone and Masraf Al Rayan.
Rashid Al Mansoori, CEO, Qatar Stock Exchange “We’re delighted to see the market break new highs – it’s testament to the strength and organization of listed companies, and to all stakeholders involved in developing the market here in Qatar. There’s huge amount of positive sentiment surrounding the market, volumes have doubled and we hope it’s set to be a bumper year for the equity market. Positive earnings results, the MSCI reclassification, market reforms and the launch of new products underpin the incredible stock market performance in the last 12 months.”