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Transportation is the only sector in Qatar that grew in January 2024

Transportation is the only sector in Qatar that grew in January 2024

​In the opening month of 2024, the Qatar Stock Exchange witnessed a downturn, with the General Index plummeting by -6.8%.

General Index, which commenced the year at QAR 10,831, concluded on January 31 at QAR 10,089, signifying a setback.

The most substantial decline occurred in the Insurance sector, as the index descended 9% from QAR 2,362 to QAR 2,395.

Within the insurance sector, Qatar General Insurance & Reinsurance (QGRI) experienced the most significant decline, plummeting by 25%.

Banks and Financial Services also faced a considerable setback, with the index declining by 8%.

The decline was largely influenced by The Commercial Bank (CBQK), which saw a 15% decline.

On the flip side, the Transportation sector emerged as the only growing sector with a 2.3% growth.

This positive trajectory was driven by Qatar Navigation (QNNS), which exhibited a robust growth of 6.7%.

Unfortunately, four other sectors found themselves in the red during this period. The Industrial Index experienced a decline of -6.4%, followed by Consumer Goods & Services with a -5.3% dip, Telecoms with a -4.8% decrease, and Real Estate with a -1.8% downturn.

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Source: Sahmik