Doha: The Qatar Stock Exchange (QSE) index closed the current week up 2.80 percent, adding 305.56 points to its tally, rising to 11,220 points.
According to Qatar News Agency, the banking sector posted the highest weekly gains, rising 4.670 percent. Financial market analyst Mubarak Al Tamimi commented on this performance, noting that several factors contributed to the QSE index surpassing the 11,000-point mark during the current week. A key factor was the performance of listed companies and their profits achieved in the first half of the year, along with their announcement of interim dividends.
Al Tamimi highlighted a trend of foreign and Gulf portfolios gravitating towards the Qatari market, attracted by the opportunities it offers compared to other markets. This trend is expected to strengthen with the anticipated decrease in interest rates and the increase in returns on shares of listed companies.
He described the current market conditions as an opportune moment for investors to bolster their portfolios, increase their purchasing activity, and infuse more liquidity into the market. This is particularly appealing given the attractive prices and favorable distributions from companies. However, he advised investors to steer clear of speculative activities unless they are proficient in managing the associated high risks.
Concluding his weekly review of the QSE’s performance, Al Tamimi noted that the general index is moving towards the next resistance level of 11,500 points. If this level is surpassed, the index could reach 11,917 points.