Qatar Market Jumps on World Cup Euphoria — Qatar Analysis — GCC Market Analytics
Qatar Market Jumps on World Cup Euphoria | GCC Market Analytics

Monday, 6 December 2010

Qatar Market Jumps on World Cup Euphoria

The QE Index finished up +3.57% on Sunday, the first trading session following the announcement of Qatar's successful 2022 World Cup bid.

However, the Index opened up nearly 7% higher and reach was almost 8% higher at one point during the trading session.  So although the Index finished much higher than Thursday's close it was considerably off its intraday highs. Intraday traders most likely had a bad day yesterday. 

The QE Index closed at 8,477.32, the highest closing value in more than two years.

The move up was accompanied by high volume. In fact, by my data I make it the highest volume day since early June 2009. 

Qatar Index Jumps +3.57%

The QE Index is currently up over 21% for the year.  That's way better than any other GCC equity market.  The question now, of course, is what next?