Doha: The Qatar Stock Exchange (QSE) index concluded this week’s trading with a notable increase of 1.03 percent, adding 104.09 points to its balance and rising to 10,177 points, bolstered by all sectors.
Financial analyst, Mubarak Al Tamimi told the Qatar News Agency that the QSE index has achieved a growth rate of over 11 percent during the recent period due to continuous gains. He noted that the index is approaching new resistance levels, with the first target at 10,250 points, and if surpassed, the next resistance point will be 10,500.
Al Tamimi attributed the recent surge to several factors, including the decline in stock prices, which encouraged Qatari portfolios to purchase stocks. He pointed out that investors are anticipating the quarterly results of companies, which started with Qatar National Bank (QNB) and will continue through July and August. Additionally, he highlighted the attractive pricing and generous returns of leading shares such as those of ‘Industries Qatar’, ‘QNB’, and ‘Al-Masraf’, w
hich are performing strongly on the QSE.
He further explained that the trend of distributing semi-annual dividends by some listed companies is expected to positively impact the general index’s performance. If these dividend distributions exceed the returns provided by banks on deposits, it could inject new liquidity into the market.
This week, the QSE saw liquidity levels reach QAR 2.072 billion, averaging about QAR 414 million per session. The trading volume was 753.25 million shares, executed through 75,264 deals across all sectors.
Source: Qatar News Agency