Doha: The Qatar Stock Exchange (QSE) index closed this week with a 0.42 percent increase, adding 44.02 points to reach 10,509 points, compared to last week's close. The rise was supported by gains in four sectors, led by the banking and financial services sector, which posted a 1.1 percent increase, followed by the transport sector with a 0.64 percent rise. Youssef Bouhlaika, a financial market analyst, told Qatar News Agency that he expects the QSE index to surpass the 11,000-point mark in the coming period, driven by strong early corporate earnings reports, including a 7 percent rise in net profits for Qatar National Bank (QNB) in the first nine months of 2024. Bouhlaika noted that the QSE is likely to maintain its current level above 10,500 points and could later rise to 10,800 points, before stabilizing and eventually breaking through to 11,000 points, supported by the resilience of the national economy. He advised investors to hold onto their shares and avoid hasty selling, while also exercising cauti on due to ongoing regional events. Bouhlaika highlighted that the QSE index has risen by 2.4 percent over the past 30 days, but is still down 3 percent from its highest point in 52 weeks, recorded on Dec. 31, 2023, and 14.7 percent from its lowest point on May 30, 2024. Source: Qatar News Agency
Wednesday, October 30, 2024
