27 November 2003
Doha: The Doha Securities Market’s Index (DSMI) crossed the 4,000 points mark last Wednesday, rising by 16.88 during the day to 4003.86 points, the highest level since the market was established more than six years ago.
This achievement reflects the Qatari economy’s growth and investors’ confidence in setting various projects, Dr Ghanem Al Hammadi, DSM Director said in a briefing with the local media recently.
He said the General Index high level in a very short period of time indicated the ability of the country’s economy to provide more solid and new investment opportunities.
Among other factors that have contributed to the DSM’s increased activities, he pointed to the increase in oil prices and expansion of gas industry that has led to the country’s economic growth.
He noted that DSM had recorded a 70 per cent growth this year, earning it the third place in the Gulf securities markets after that of Kuwait and Saudi Arabia.
Currently twenty-nine companies are listed on DSM, including the Qatar Leisure and Tourism Development Company (QLTDC) that was sold to Qatar Airways.
Meanwhile, Dr Ghanem Al Hammadi noted that several companies would join the price index next year in place of weaker companies, noting that companies, such as Industries Qatar and Woqood had entered the index price due to their excellent performance.
On his outlook of DSM future development, he said next year investors would be able to buy and sell shares through Internet without the need of being present at the stock exchange premises.
He said that the DSM website would be entirely overhauled in mid-January next year and will be doted with a new page, but added that the success of the electronic trading process would depend on the investors and dealers themselves after DSM has provided the necessary infrastructure.
He also noted that DSM is planning to set up a new and much larger hall with all required facilities in the sixth floor of the DSM building dedicated to ladies investors in the near future.
Doha: The Doha Securities Market’s Index (DSMI) crossed the 4,000 points mark last Wednesday, rising by 16.88 during the day to 4003.86 points, the highest level since the market was established more than six years ago.
This achievement reflects the Qatari economy’s growth and investors’ confidence in setting various projects, Dr Ghanem Al Hammadi, DSM Director said in a briefing with the local media recently.
He said the General Index high level in a very short period of time indicated the ability of the country’s economy to provide more solid and new investment opportunities.
Among other factors that have contributed to the DSM’s increased activities, he pointed to the increase in oil prices and expansion of gas industry that has led to the country’s economic growth.
He noted that DSM had recorded a 70 per cent growth this year, earning it the third place in the Gulf securities markets after that of Kuwait and Saudi Arabia.
Currently twenty-nine companies are listed on DSM, including the Qatar Leisure and Tourism Development Company (QLTDC) that was sold to Qatar Airways.
Meanwhile, Dr Ghanem Al Hammadi noted that several companies would join the price index next year in place of weaker companies, noting that companies, such as Industries Qatar and Woqood had entered the index price due to their excellent performance.
On his outlook of DSM future development, he said next year investors would be able to buy and sell shares through Internet without the need of being present at the stock exchange premises.
He said that the DSM website would be entirely overhauled in mid-January next year and will be doted with a new page, but added that the success of the electronic trading process would depend on the investors and dealers themselves after DSM has provided the necessary infrastructure.
He also noted that DSM is planning to set up a new and much larger hall with all required facilities in the sixth floor of the DSM building dedicated to ladies investors in the near future.
Dr Ghanem Al Hammadi
© The Peninsula 2003
