Financial Analyst to QNA: Several Factors Helped QSE Index Breach 11,000-Point Barrier
Doha, July 24 (QNA) - 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.
The banking sector posted the highest weekly gains, rising 4.670 percent.
Commenting on this performance, financial market analyst Mubarak Al Tamimi told Qatar News Agency (QNA) that a number of factors helped the QSE index break through the 11,000-point barrier during the current week, particularly the performance of listed companies and their profits achieved in the first half of the current year and their announcement of interim dividends. He pointed out that there is a trend by foreign and Gulf portfolios towards the Qatari market and the opportunities it provides compared to other markets, a trend that is expected to be strengthened in the coming period with the downward trend in interest rates and the rise in returns on shares of listed companies.
He considered the current situation a favorable opportunity for investors to strengthen their portfolios, increase their purchasing activity, and inject more liquidity into the market, especially given the attractive prices and the good distributions from companies. He urged investors to avoid speculative activities if they are unable to master the techniques to avoid the high risks.
Concluding his weekly review of the QSE's performance, Al Tamimi highlighted that the general index is heading towards the nearest resistance level of 11,500 points, and if it exceeds that level, it will reach 11,917 points. (QNA)