QE Index records biggest gain of 2022 – The Peninsula

QE Index records biggest gain of 2022 – The Peninsula

Doha: Qatari stocks surged to new highs yesterday with QE Index soaring 387 points, recording the biggest single day gain of the year. The benchmark index of the local bourse closed at 14,476 points yesterday. This huge single day gain was powered by buying support from foreign and Arab investors.

The index had registered other big gains of the year in February and March. The QE Index had surged around 324 points on March 1 when the index had closed at 13,272 points. The other big gain was registered on February 28 when the index had risen 289 points to close at 12,949 points.

It was the third straight day of gains for the Qatari stocks as the index is on rising spree since last Wednesday. In the past three trading sessions, the QE Index has surged 601 points. The index had gained 206 points on Wednesday and 213 points on Thursday.

In yesterday’s trade, foreign and Arab investors turned net buyers while local investors were net sellers. Banking stocks were in the spotlight during the trade and four banks emerged as top gainers in the list of top five gaining stocks.

Qatar International Islamic Bank gained 9.6 percent, Qatar First Bank jumped 7