| 28 Jul 2010 |
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Barwa, IQ lead in trading value on bourse
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DOHA: Large cap and fundamentally formidable Industries QatarIndustries Qatar
(IQIQ), which is one of the top holding companies in the region, led in terms of trading value on the Qatari bourse in the first six months of the current year.The value of traded stocks of the company totalled more than an incredible QR4.28bn between January and June 2010.
Barwa Real Estate CompanyBarwa Real Estate Company, the state-backed real estate giant, trailed IQIQ, bagging the second spot on Qatar Exchange in terms of trading value.
Its traded shares in the first six months of 2010 were valued at QR3.34bn. The two large cap entities together accounted for a huge QR7.63bn, or as much as 21.69 percent of the total value of the shares traded on QE between January and June 2010.
The two entities, thus, left other mega players on the Qatari equity market like the Qatar National Bank, Al Rayan, Commercial Bank and Al Masraf, among others, behind.
The Qatari bourse has oscillated between despair and hope from the investors' viewpoint as its 20-share index has fluctuated between 6,550 and 7,550 points in the first six months of 2010.
The benchmark index closed at 6,558 in January, breached the psychologically critical level of 7,000 points in March and inched up further to 7,547 points, only to drop back to 6,899 by June-end, dashing investors' hope of a rally.
Analysts say the way the market has been behaving they don't see the index rising in a dizzy way to cross record levels by the year-end.
But there are optimists among analysts who see the fluctuating index as reflecting market stability.
And the fact that IQIQ and BarwaBarwa have led in as far as individual listed entities are concerned, in terms of six-month trading value, has led the optimists to view them as good long-term bets.
© The Peninsula 2010
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