In step herald to a new inflows of foreign funds
Emirates and Qatar Rise after increasing weight in the emerging index
UAE stock markets and Qatar made the best performance of other stock markets in the Middle East today after MS CIA market by increasing the weights of the two emerging market index in a promising new flows of foreign funds. And in the half-yearly review published last weekend at the end of this month m.s. CIA cancelled plants modify 0.5 for number of shares listed in may due to the easing of restrictions on foreign investors. And also the weight of first Gulf Bank and Gulf international services added to emerging market index.
The General index rose to Abu Dhabi 1.6 percent, supported largely by an first Gulf Bank arrow, which jumped 5.3 percent. Investment company shares jumped waha 7 percent to 2.92 AED after the company said that its profits for the third quarter increased more than doubled. But Union National Bank shares fell 5.2 percent, as investors were hoping that becomes part of the indicator m.s. CIA following revision of November but the indicators decided not to include it. The Dubai index climbed 1.1 percent. Rose, with Emaar and Dubai Islamic Bank Al 2 and 0.3 per cent respectively after MS CIA weight increased arrows. Al Deyaar Development gained 1.9 percent shares of Union properties 1.8 per cent while shares rose Drake & Scull international contracting 0.9 percent.
Qatar exchange index rose 0.8 percent, with the rise of the arrows leading Qatar national bank industries Qatar is 1.7 and 1.4 percent respectively after increasing the weight on the m.s. CIA. Among the list of m.s. CIA Doha Bank shares also climbed 1.2 percent and shares of commercial bank of Qatar, which increased 0.7 percent. Shares rose Gulf international services candidate to join index 1.9 percent. Analysts estimate that both UAE and Qatar may attract new foreign funds of about $ 1 billion because of the decision of the m.s. CIA last and this is not comparable to the market when the 200 capitalized billion dollars but it is enough to spur trading in the short term. Barwa real estate shares jumped 7.6 percent, continuing its ascent, which began last week after the company launched a business near downtown Doha costing 500 million riyals (137 million dollars) and bought a 50 per cent share in the golf development Lucille for 2.48 billion riyals. He said Akbar Khan, Director of asset management at Al Rayan investment in Doha that the arrow points to the volume of interest from institutional investors.