Qatari stock exchange rises 0.59% during the first quarter of 2018August 27, 2018
The Qatar Stock Exchange rose 0.59% during the first quarter of this year, supported by the growth of a number of sectors, to close the general index of the stock exchange at 8573.99 points, up 50.61 points compared to the end of the fourth quarter of 2017.
Net profit of the 45 listed companies rose 2.9 percent in the first quarter2.95 percent on an annual basis, to reach 10.95 billion riyals (3.01 billion dollars). The 45 companies are distributed in 7 sectors, namely banks financial services, industry, real estate, transportation, telecommunications, consumer goods and services, and insurance
Among the sectors that supported the growth of the stock market were the industrial and banking sectors, which rose 10.2 and 4.3 percent respectively, while three sectors, led by insurance, fell 10.8 percent. The value of trading during the first quarter of last year reached about 16.52 billion riyals, distributed over 580.53 million shares, through 254.54 thousand transactions.
A package of positive factors contributed to the rise in the stock market index, the most prominent of which is the rise of oil prices to levels touched $70 per barrel, and increased government spending in the current budget, and exceeded the listed companies on the consequences of the blockade imposed on Qatar.
The banks sector gained the biggest share, for 45.25 percent of the total profits, followed by the industrial sector with 21.76 percent, real estate by 6 percent, telecommunications by 5 percent, transport by 3.55 percent, insurance by 3 percent, And finally the goods sector by 0.5 percent.
Mr. Moutaz Al Khayyat, Chairman of the Board of Directors of Orabakon Trading & Contracting said that: “The results of the companies during the first quarter were better than expected compared to last year and confirmed the strength of the Qatari economy, encouraging the investor to own property and to retain the shares.”
معتز الخياط , #معتزالخياط , #معتز_الخياط
Moutaz Al Khayyat, #moutazalkhayyat , #moutaz_al_khayyat