The Qatar Stock Exchange index ended this week’s trading with a 0.72 percent increase, adding 72,460 points to its balance, and rising to 10,125 points, supported by the communications sector, which achieved weekly gains with a growth of 3.590 percent, and the banking and financial services sector with an increase of 1.520 percent.
In this context, Yousef Buhaliqa, a financial markets analyst, told Qatar News Agency (QNA) that the Qatar Stock Exchange index would maintain its performance and continue to rise in the coming period, benefiting from the results achieved by the listed Qatari companies.
Buhaliqa said: The figures revealed by the Qatar Stock Exchange regarding the companies’ results will increase the attraction of investors and enhance the market’s liquidity in the coming period.
He pointed out that the Qatar Stock Exchange index rose by 0.7 percent in the past five days, while it fell by 0.7 percent in the past 30 days, but it is 10.5 percent higher than its lowest level on May 30 of this year.
Figures issued by the Qatar Stock Exchange showed a 5.5 percent increase in the profits of listed Qatari companies during the first half of 2024, reaching 25.72 billion riyals, compared to nearly 24.386 billion riyals in the same period last year.
The banking and financial services sector recorded net profits in the first half of this year of 14.9 billion riyals, or about 58 percent of the total profits of listed companies, followed by the industrial sector with total profits of 4.645 billion riyals, then the communications sector with 2.164 billion riyals.
The services and consumer goods sector achieved the largest gains in the first half of this year, with its net profits growing by 22.7 percent, while the net profits of the real estate sector declined by 12.32 percent.