DOHA: The Qatar Stock Exchange (QSE) index concluded the week with a significant rise, increasing by 1.32 percent and adding 136.9 points to reach 10,528 points. This growth was driven by strong performances across various sectors, with the real estate sector leading with a 1.72 percent gain, followed by the industrial and insurance sectors with gains of 1.47 percent and 1.34 percent, respectively. According to Qatar News Agency, financial analyst Youssef Bouhlaiqa expressed optimism about the QSE's trajectory, predicting further increases in stock exchange trading throughout the remainder of 2024. Bouhlaiqa emphasized the importance of the upcoming annual results announcements from listed companies, which are expected to influence trading activity. He highlighted the current support area between 10,400 and 10,500 points and the resistance area at 10,800 to 11,000 points as key levels to watch. Bouhlaiqa noted that the QSE general index is on track to achieve its highest gains since the week ending October 17, having risen 0.7 percent over the last thirty days. On the latest trading day, the index climbed for the fourth consecutive session by 0.17 points, marking its highest closing level since November 11. During the current week, the QSE experienced an average trading value of QR 348 million. Bouhlaiqa also pointed out that the recently unveiled 2025 budget is expected to bolster economic activities in Qatar, potentially enhancing the profits of companies listed on the stock exchange.
Qatar Stock Exchange Index Poised for Record Gains, Analyst Predicts
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