Qatar stocks up on emerging fund inflows, Gulf slightly higher

Qatar’s benchmark index outperformed its peers in early trade Tuesday as emerging market funds continue to hunt for bargains there.

Doha’s main index rose 0.7 percent as 11 of the 12 Qatari shares that are members of the MSCI emerging market index advanced. Petrochemical conglomerate Industries Qatar was up 2.2 percent and Qatar National Bank rose 0.6 percent.

Dubai’s index was up 0.3 percent, boosted by a 0.9 percent gain in Emaar Properties. Other large-cap shares also rose and Dubai Parks and Resorts, the most heavily traded stock on the bourse, added 0.6 percent.

Abu Dhabi’s index edged up 0.1 percent in very thin volume. Abu Dhabi Commercial Bank rose 0.2 percent but Abu Dhabi National Energy, which surged 8.0 percent on Monday, pulled back 1.9 percent.

In Saudi Arabia, the main index edged up 0.1 percent after 15 minutes of trade as the petrochemical sector added 0.4 percent, headed for its fourth straight session of gains. Saudi Basic Industries was up 0.6 percent.

But some shares which outperformed on Monday pulled back as investors booked profits. Healthcare provider Dallah Health , which closed up 1.1 percent on Monday, dropped 1.4 percent.

Source: Reuters

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