Satyendra Pathak Doha Qatar's stock market rose for a third straight session on Monday, boosted by blue chip stocks
amid rising oil prices.
Yet at the same time the average 30-year fixed mortgage rate surged 9 basis points to 4.97% -- highest since April 2011 -- as blue chip stocks
marched to record highs again despite trade/tariff setbacks.
The DFM index rose 0.86 per cent to close at 2,764.38 as trade values improved slightly to Dh280 million and blue chip stocks
such as Emaar and Dubai Islamic Bank gained.
Joseph Roxas, president of Eagle Equities, said institutional investors seemed to be back in play, buying blue chip stocks
as recent price declines had made them more attractive.
With political uncertainty still heavily prevalent and international pressure on the country growing, analysts and brokers have advised investors to maintain caution and focus on fundamentally strong blue chip stocks
Oil majors were among the blue chip stocks
giving the market a leg-up, as they tracked the price of Brent crude, which rose 2.4% to 63.58 a barrel.
"There has been a broad-based buying in the last three to four trading sessions and the frontrunners were blue chip stocks
or bank shares," added Suresh Kumar.
What really dominated the market momentum this week was speculative trading and profit-taking in addition to a limited but lively buying of some blue chip stocks
, namely those from the banking, services, and real estate sectors, said the two market pundits.
UAE bourses offer blue chip stocks
at attractive prices; banking scrips in focus.
It is about keeping it really blue chip stocks
which is the tradition of the Dow - 30 really blue chip, solid American companies.'
The CBR is to consider resuming the use of Russian blue chip stocks
as collateral for REPO (this measure was used in 2009, but the average haircut was 50% and it was never really that important from the point of view of providing liquidity to the system).