QE Advances 0.30% On Industry Sector

The Qatar Exchange benchmark QE 20 Index advanced 0.30% to reach 8,687.83 points Sunday, mostly due to gains in the industry sector.

Shares of Qatar Fuel dived 2.83% to QR 237.30 ($65.19).

Earlier in the day, Qatar Fuel announced its first quarter net profits (after excluding minority interest) reached QR241 million ($66.21million), off 10.5% year-on-year.

“This decrease in profit is due to the completion of some major projects such as the New Doha International Airport, gas projects and others, which resulted in a decline of sales for certain petroleum products,” the company said in a statement to the QE.