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Financial and investment services sector steal limelight in 2013
January 6, 2014--Seven out of the nine sectors on the Dubai Financial Market ended in green last year, with the financial and investment services sector increasing the most by 169.2 per cent, followed by the banking, real estate and construction sectors by 120.6 per cent, and 108.2 per cent respectively, according to DFM's latest report.
The consumer staples sector index ended down by 9.9 per cent while the Insurance sector index down by 7.2 per cent.
Qatar Exchange index hits 52-week high
January 6, 2014--Qatar Exchange extended the rally lifting its 20-stock benchmark index to a 52-week high yesterday.
Driven by the buying interests of local retail investors, the index closed 1.13 percent higher at 10,664 points with the market cap growing by QR5bn to reach QR566bn from last trading session's QR561bn.
The Trading value stood at QR503m compared to last session's QRR330m. Of the 40 companies traded, 26 advanced and 11 fell yesterday.
Qatar Central Bank sets up central securities depository company
January 5, 2014--Qatar Central Bank (QCB) on Saturday announced the establishment of the Qatar Central Securities Depository (QCSD) company.
The new company will start its work from January 2, 2014, according to a press statement issued by QCB.
The company will hold all activities and tasks carried out by the central registration department of the Qatar Exchange (QE), the statement said,
UAE sets rules to develop covered bonds market
January 5, 2014--The United Arab Emirates issued rules for the issuance and trading of covered bonds, potentially a major step towards developing its debt market and giving commercial banks a new source of funding.
The Securities and Commodities Authority, the UAE's financial market regulator, set conditions for banks and other companies to obtain licences allowing them to issue covered bonds, state news agency WAM reported on Sunday.
Dubai and Abu Dhabi move in opposite directions
January 5, 2014--Dubai and Abu Dhabi stock markets traded in opposite directions on Sunday due to lack of activity.
Financial and investment shares dragged Dubai's DFM index down by 0.13 per cent to close at 3467.18 points.
Bourse up 1.48% as local retail investors continue to be net sellers
January 4, 2014--Local retail investors continued to be net sellers, ahead of the QR3.23bn initial public offer of a Qatar Petroleum unit, but with lesser vigour, nevertheless Qatar Exchange ( QE ) settled 1.48% higher in the first week of 2014.
Of the four sessions, three of them were in the positive turf in the week that witnessed Mesaieed Petrochemical Holding Company's (MHPC) 323.19mn shares at QR10.2 a piece hit the market, which will run until January 21.
Real estate sector rises over 2%
January 3, 2014--Despite a plunge of 33 points after the opening bell, the benchmark Tadawul All-Share Index (TASI) finished with a balmy gain of 0.15 percent or 12.78 points, closing at 8,618.12.
Positive performance was boosted by Real Estate Development sector, which surged 103.3 points or 2.15 percent to close at 4,898.69. Petrochemical Industries was another significant gaining sector, advancing by 0.6 percent for the day. Insurance sector, on the other hand, posted the largest losses, falling 0.86 percent to close the day at 1,192.54. Top 10 market cap companies closed the day in mixed territories, showing small changes from previous day's level.
QE market cap rises to QR561.7bn
January 3, 2014--The Qatar Exchange index gained 154.10 points (1.48 percent) last week when the bourse closed yesterday at 10,545.27 points.
Trading value during last week decreased by 41.71 percent to reach QR1.2bn compared to QR1.9bn. Trading volume decreased by 47.44 percent to reach 30,505,003 shares, as against 58,041,625 shares the previous week, while the number of transactions fell by 42.63 percent, to reach 16,912 last week as compared to 29,478 the previous week.
Rally in bank shares propels UAE indices higher
January 2, 2014--UAE indices started the new year on a strong footing on Thursday, led by bank shares.
Among the Gulf markets, Dubai was the top performer, followed by Abu Dhabi and Qatar.
Saudi share market capitalization reached SAR1.75 trn
January 2, 2014--The Saudi stock market in 2013 posted the strongest annual performance since 2009 with the Tadawul All-Share Index (TASI) up 25.5 percent.
According to the Tadawul Annual Statistical Report released on Wednesday, at the end of 2013, TASI closed at 8,535.60 points compared to 6,801.22 points for the previous year, thus gaining 1,734.38 points (25.50 percent). The highest close level for the index (TASI) during the year was 8,561.84 points as on Dec. 23.
