Qatari stocks rise ahead of Eid holidays

Tribune News Network Doha Most major stock markets in the Gulf ended higher on Monday in thin trade ahead of Eid al-Fitr holidays, with financials and pet...

Tribune News NetworkDoha Most major stock markets in the Gulf ended higher on Monday in thin trade ahead of Eid al-Fitr holidays, with financials and petrochemical shares boosting the Qatari index.The general index of the Qatar Stock Exchange (QSE) gained 15.14 points, or 0.14 percent, at the end of Monday’s trading to reach 10,950.72 points.The session witnessed the trading of 251.713 million shares valued at QR541.2 million in 10,916 trades.Shares of 19 companies rose in today’s session, the prices of 23 others decreased, and three companies maintained their previous closing price.The market capitalization at the end of the trading session reached QR635.302 billion, compared to QR 634.415 billion in the previous trading session.In a statement on its website, the QSE said that the Eid Al-Fitr Holiday will be starting from May 12 until May 16. The market will resume work on May 17.This is based on the instructions received from the Qatar Financial Markets Authority (QFMA), the statement said. Meanwhile Saudi’s benchmark index gained 0.9 percent. In Dubai, the main share index finished 0.4 percent higher, with its top lender Emirates NBD rising 1.2 percent after investment bank JP Morgan Cazenove raised the target price of the bank to 14.15 dirhams with an upgrade to overweight.