Qatar Stock Exchange (QSE) main index gained 75.23 points, or 0.83 percent when the bourse closed trading at 9,135.16 points yesterday.
The volume of shares traded increased to 13.09 million from 12.67 million on Sunday and the value of shares increased QR677.67m from QR337.25m on Sunday.
From the 44 companies listed on QSE, shares of 38 saw trading yesterday. Of these 32 gained and 5 companies closed lower yesterday, while one remained unchanged. Indices of all sectors ended in green zone.
QSE Total Return Index gained 0.83 percent to 15,319.12 points. QSE Al Rayan Islamic Index increased 1.09 percent to 3,601.28 points and QSE All Share Index added 1.09 percent to 2,586.38 points, reports QNA.
Meanwhile, Reuters attributed the Qatari market’s recovery to the assurances of the Minister of Finance H E Ali Sherif Al Emadi (pictured), who said the economy was essentially operating as normal despite the region’s diplomatic crisis, while property-related shares buoyed the United Arab Emirates.
The Minster told CNBC that Doha could easily defend its currency and prevent shortages of food or other goods. Also, many investors still hope for a diplomatic solution in coming weeks.
Foreign funds remained net sellers of Qatari shares yesterday but the pace of their selling slowed, bourse data showed, suggesting some funds were willing to accept higher political risk now that valuations were lower.
Telecommunications operator Ooredoo rose 2.1 percent to 92.90 riyals, an 18 percent discount to the average fair value estimated by 11 analysts surveyed by Reuters.
Non-Qatari Gulf funds have also slowed their pace of selling; yesterday they made up roughly 5 percent of total market turnover, in line with pre-crisis levels, bourse data showed.
,The Peninsula