QSE Index Posts Best Weekly Performance Since October 2023

Doha: The Qatar Stock Exchange (QSE) index made its best weekly performance since the end of October 2023, rising by approximately 3.93 percent and offsetting recent declines caused by regional developments. 

The index closed the last session of the week at 10,684 points, gaining 41 points, or 0.39 percent, marking gains for the fifth consecutive day.

Ramzi Qasmieh, Investment Director at Qatar Securities Company, told Qatar News Agency (QNA) that with the gains achieved by the general index, the market capitalization of the stock exchange increased on a weekly basis by approximately QR25.87bn, reaching QR631.27bn. 

He pointed to the influx of new liquidity into the market with the cessation of the war between Iran and Israel and the announcement by the Qatar Investment Authority of the launch of an active investment portfolio worth $200m. 

This contributed to raising the morale of traders, especially with the approaching announcement of the results for the first half of this year and the approval of semi-annual dividends by some companies.

Qasmieh expected positive performance for the stock exchange towards the end of the month and portfolio evaluations, which will impact corporate profits.

Analyzing the performance of the shares of companies listed on the Qatar Stock Exchange, Qasmieh a pointed to the gains made by Mannai Corporation, which led the way with a 19.4 percent gain, followed by Widam Company, which rose by 15.4 percent. No stock saw any declines in trading volume this week, reflecting the positive mood that characterized the performance and trading on the Qatar Stock Exchange.

He also noted the increases recorded by all sectors, with the transportation sector achieving the highest gains at 7.7 percent, followed by the telecommunications sector at 7.5 percent.