Doha: The Qatar Stock Exchange (QSE) index closed this week with a 3.1 percent decrease, losing 332.9 points to reach 10,400 points, compared to last week's close, under pressure from various sectors. Data issued by the QSE indicated that the banking and financial services sector was the biggest loser, with a negative rate of 4.18 percent, followed by the communications sector with 3.66 percent. In this context, financial markets analyst Youssef Bouhlaika told Qatar News Agency that the QSE index is still trading near important rebound levels ranging between (10,300 - 10,400) points, expecting the index to witness a rise after the corrective movement from the above-mentioned levels to re-target 10,800 points, urging investors to take advantage of the declines to open new purchasing positions. The financial markets analyst pointed out that the QSE index fell by 3.1 percent in the past five days and by 0.9 percent in the past thirty days. He noted that the index's closing at 10,400 points during the current week is its lowest level since the Sep. 12 session. Bouhlaika indicated that the QSE index fell by 4 percent from its highest level in 52 weeks and 13.5 percent from its lowest level on May 30, 2024. He explained that the decline recorded by the QSE index during today's session was due to the impact of the Industries Qatar company share, which declined by more than 1 percent, while the Barwa Real Estate company share was the biggest loser, with a decline of nearly 1.3 percent. Source: Qatar News Agency
Friday, October 25, 2024