Positive Performance for Qatar Stock Exchange Index Supported by Vitality of Some Leading Companies

Doha: The Qatar Stock Exchange (QSE) index wrapped up this week’s trading up by 1.95 percent, gaining 193.820 points to stand at 10,154 points, supported by the transport sector which increased by 13.68 percent, the consumer goods and services sector by 1.86 percent, and the real estate sector by 2 percent.

In this context, financial market analyst Youssef Bouhlaika told Qatar News Agency (QNA) that the period when listed companies announce their results for the fourth quarter of 2023 often witnesses marginal movement of rise and fall, especially since the announcement period extends until the end of the first quarter of the year. 

This is the longest period among the other quarters, in addition to the movement witnessed in the shares of some leading companies, such as Nakilat.

Bouhlaika added that, given the relationship between the financial markets and the oil markets, the market may receive some support in the rise of Brent Crude higher if the barrel price exceeds $84, which is still likely, and may make the market maintain its most important support area, above levels of 10,000 points, despite the recent decline.

He pointed out that the coming period, including the first quarter of 2024, is expected to see the market witness some recovery, noting that the market remaining above the level of 10,100 points reinforces its stay in a positive area that reduces the losses recorded since the beginning of the year, which amounted to 6.24 percent in the last session today.

He indicated that the average trading value during the current week was about QR516m.