QSE Index Could Cross Above 11,000: Expert

Doha, Qatar: The Qatar Stock Exchange (QSE) index ended this week’s trading with an increase of 0.63%, gaining 67.70 points to reach the level of 10,827, compared to last week’s close. This was supported by the industrial sector, which posted the highest gains at 1.50%, followed by the insurance sector at 0.820%.

In this context, financial analyst Mubarak Al Temimi, in remarks to Qatar News Agency (QNA), predicted that the QSE index could rise to 11,475 points in the coming period if it breaks the resistance level at 10,820 points, which it closed above today’s session.

He said that in order to achieve this target, the index would need to overcome several selling resistance levels, starting with 11,129 points, which he described as a favorable level to clear. If surpassed, it would pave the way for the index to reach the next resistance at 11,484 points.

Al Temimi attributed expectations for the general index to rise in the coming period to a number of factors, most notably the anticipated announcements of dividend distributions by listed companies for the first half of 2025, the implementation of FTSE index reviews, and the potential for interest rate cuts.

He also observed that foreign portfolios had engaged in extensive buying recently, capitalizing on attractive prices, adding that these purchases reflect optimism regarding upcoming semi-annual dividend distributions by listed companies.

The financial analyst added that the improvement in the general index is also being supported by movements in key stocks such as Industries Qatar, Al Rayan Bank, and Qatar Islamic Bank (QIB).