Doha: The Qatar Stock Exchange (QSE) index ended this week’s trading with a decline of 0.75 percent, losing approximately 78 points to stand at 10,850 points compared to last week’s closing price, under pressure from various sectors.
Commenting on the market performance, Investment Manager at Qatar Securities Company (QS) Ramzi Qasmieh told Qatar News Agency (QNA) that the strong gains recorded in today’s session helped limit the weekly losses of the index, bringing the decline to approximately 0.75 percent, closing at 10,850 points. This decline came after leading stocks were subjected to selling or selling pressure from foreign investors in the past four sessions.
The Investment Manager pointed out that the QSE general index ended the last session of the week with strong gains of approximately 157 points, an increase of 1.47 percent, amid strong performance by leading stocks, especially the heaviest-weighted stocks in the index, namely Qatar Islamic Bank, Industries Qatar, and QNB, where QIB shares surged by over 4 percent, followed by Industries Qatar with about 2.5 percent, and QNB with about 2.4 percent increase.
The index’s rebound from yesterday session’s low of 10,695 points, he explained, is technically beneficial and gives it a boost, but this depends on liquidity levels.
Analyzing sector performance over the past week, Qasmieh noted that all sectors closed in the red zone, with the real estate sector declining the most, by 1.66 percent, followed by transportation, which declined by 1.50 percent, due to a decline in Nakilat shares.
Qasmieh also observed that Q3 corporate results continue to be released gradually, with most results falling in line with analysts’ expectations.
