Qatari stocks open week on positive note, QSE up 0.4%

Tribune News Network Doha Qatari stocks opened the week on a positive note as the Qatar Stock Exchange (QSE) general index reversed earlier losses to gain...

Tribune News NetworkDoha Qatari stocks opened the week on a positive note as the Qatar Stock Exchange (QSE) general index reversed earlier losses to gain 39.86 points, or 0.37 percent, when the bourse closed trading at 10,935.58 points on Sunday.The volume of shares traded decreased to 293.302 million on Sunday from 400.117 million in the previous session on Thursday and the value of shares decreased to QR494.650 million from QR610.645 million on Thursday.Indices of four sectors out of the seven closed in the positive territory on the day that saw the insurance sector make the maximum gain with a rise of 2.4 percent. The banking sector, which gained 0.7 percent on the back of 10 percent rise in Doha Bank and more than 3 percent rise in Commercial Bank, was the second best performer for the day.The QSE Total Return Index gained 0.37 percent to 21,647.65 points and QSE Al Rayan Islamic Index added 0.06 percent to 4,654.00 points. The QSE All Share Index was up 0.49 percent to 3,461.84 points.Meanwhile, the Abu Dhabi stock market ended higher on Sunday, outperforming other Gulf markets, while the Dubai index was supported by gains in its property shares.In Abu Dhabi, the benchmark advanced 1.1 percent with First Abu Dhabi Bank rising 1.1 percent, whereas International Holding closed 3.6 percent higher, extending gains for a fourth consecutive session.Dubai’s main share index finished 0.8 percent higher, led by a 2.3 percent leap in Emaar Properties, Dubai’s biggest developer, while its shopping centre unit Emaar Malls added 1.6 percent.Dubai’s tourism chief last week said he was very optimistic business and leisure travellers would return this year, though the pandemic made it difficult to predict exactly how many. Saudi Arabia’s benchmark index concluded flat, as gains in property shares were countered by declines in financials.