Financial Analyst: The Qatar Stock Exchange index is at the highest level since January 6, with expectations of continued rise

Mark
Written By Mark

The Qatar Stock Exchange index ended this week’s trading with an increase of 0.29 percent, adding 30,160 points to its balance and thus rising to the level of 10,471.69 points, supported by strong gains achieved by the transportation sector, which increased by 3,370 percent.

In this context, Youssef Bu Haliqa, a financial markets analyst, pointed out in a special statement to Qatar News Agency (QNA) that the Stock Exchange index ended the current week’s trading at levels 14.2 percent higher than its lowest level on May 30, 2024, explaining that it witnessed an increase in the percentage referred to in the days. The past five days, while it decreased by 1 percent in the past thirty days.

The financial markets analyst noted that the Qatar Stock Exchange index rose for the third day in a row, by 0.4 percent, or 42.88 points, to reach 10,471.69 points, advancing to its highest level since the close of January 6.

Bu Hulaiga explained that the positive performance achieved by the Qatar Stock Exchange index coincides with the calming of geopolitical tensions in the region following the announcement by the State of Qatar, Egypt and the United States of America of reaching a ceasefire agreement in Gaza, which will enter into force as of next Sunday.

He also pointed out the positive impact of the results of the companies that have been revealed so far on the general index, which are the results of the Qatar National Bank Group (QNB) and the Qatar Islamic Bank (the Bank), as the pace of announcements is expected to accelerate in the coming period.

At the conclusion of his statements, Bu Hulaiga expected the Qatar Stock Exchange to continue to rise with the continuation of listed company announcements next week, which could raise the index to the level of 10,650 points.