The Qatar Stock Exchange index ended this week’s trading, down by 1.61 percent, at 10106 points, with 4 sectors declining and three sectors rising.
In an exclusive statement to Qatar News Agency (QNA), financial advisor Ramzi Qasimia, indicated that the transport sector benefited from the current week’s trading as a result of the outstanding performance of Milaha and Nakilat shares, especially after QatarEnergy signed two partnership and gas supply agreements with the China National Petroleum Corporation, as the sector increased by 4.1 percent.
The telecommunications sector also rose by about 2 percent, while the industrial sector declined 3.16 percent, as a result of the decline in the shares of Industries Qatar and QAMCO, in a proactive reading by investors of the results of the two companies, especially in light of the decline in the prices of their products in the global markets.
In this context, the financial advisor attributed the weekly negative performance of the general index to the continued effects of the FTSE Russell index revision on the Qatar Stock Exchange, especially after adjusting the weights of some listed companies, in addition to the early investors taken some profits ahead of the Eid Al Adha holiday, in anticipation of what might happen in terms of earnings and market sentiment after the holiday. He noted however that Qatari stocks are trading below 12 times earnings, describing the valuations as attractive compared to regional peers. He also said that the market is awaiting any breakthrough in the introduction new investment tools that were reported on lately, like margin trading and short-selling. He said such tools will increase liquidity in the markets and will attract more investors.
Source: Qatar News Agency