QE weekly review

Strong buying, especially in telecom and realty stocks, led the Qatar Exchange to maintain the bullish momentum during the week. 

Despite losers outnumbering gainers, the 20-stock Qatar Index and Total Return Index rose 0.28% each and Al Rayan Islamic Index by 0.72% in the week that saw United Development Company (UDC) planning to sell its 99% stake in Turkey-based Enterprise Development Company, a real estate entity. 

Major gainers included Mazaya Qatar, al khaliji, Industries Qatar (IQ), Gulf International Services (GIS), Nakilat, UDC, Al Meera, Mawashi, Salam International Investment and Qatar Telecom (Qtel); even as QNB, Qatar Islamic Bank, Commercialbank, Doha Bank, National Leasing, Qatari Investors Group, Barwa and Milaha bucked the trend. 

The QE All Share Index (comprising wider constituents) gained 0.21% with the telecom index surging 3.95%, real estate (0.99%), industrials (0.49%), consumer goods (0.46%) and transport (0.17%); while that of insurance fell 1.04% and banks and financial services (0.62%) in the week that featured the Business Optimism Index for first quarter, which found Qatar Inc being “cautiously optimistic” amid uncertain global growth scenario. 

Read more: http://www.gulfbase.com/news/qe-weekly-review/228769