QSE crosses 10,000 mark to highest since May 2017

Satyendra Pathak
Doha
Buoyed by better than expected third quarter results announced by some of the major listed banks, Qatari stocks jumped 2 percent to 10,032 points, its highest level since May last year.
Blue chip Industries Qatar climbed 3.3 percent while several banks also fuelled the market's gains after they reported rising earnings.
Masraf Al Raya was up 1.9 percent after reporting a 4.4 percent increase in its net profit for the first nine months of the year, and Qatar International Islamic Bank added 2.5 percent after posting higher profits.
The market value of the listed stocks rose 1.9 percent to QR559.55 billion from QR548.75 billion on Monday.
The bourse's liquidity increased to QR241.45 million from QR188.33 million on Monday, while the trading volume went up to 8.88 million shares against 7.54 million in the previous session.
"The general index has exceeded 10,000 points more three times over the last few months, which supports the bourse's positive performance," Mubasher Qatar has quoted financial market analyst Ahmed Akl as saying.
The Qatari market is one of the top-performing markets since the beginning of 2018, as the benchmark has jumped 17.69 percent the first nine months of the year.
"The positive financial results of listed companies, particularly in the banking sector, have contributed to supporting the bourse," Akl said.
Four listed companies namely Qatar National Bank, Qatar Islamic International Bank, Masraf Al Rayan and Dlala Brokerage and Investment Holding have posted encouraging financial statements.
"The general index may reach resistance at 10,200 points in the coming period, then 10,400 points," the analyst said.
By the end of the session, the real estate sector topped the QSE's gainers adding 3.19 percent as Mazaya Qatar Real Estate jumped 4.53 percent.
Similarly, the banking sector advanced 1.83 percent as heavyweight QNB jumped 5.08 percent.
Industries Qatar led the QSE in terms of liquidity with QR30.6 million, while Mazaya Qatar spearheaded the market in terms of trading volume with 3.5 million shares.