Investment Manager to QNA: QSE Index Closes Higher for Seventh Consecutive Week

Doha, August 07 (QNA) - The Qatar Stock Exchange (QSE) index achieved gains of 0.91 percent this week, adding 102 points to its tally, rising to 11,363 points. This is the seventh consecutive week the index has closed higher.

In remarks to Qatar News Agency (QNA), Investment Manager at Qatar Securities Company (QS) Ramzi Qasmieh, said that the general index witnessed an increase of more than 10 percent over the past seven weeks, noting the influx of foreign liquidity into some leading stocks, particularly those in the banking sector. Today, QNB shares reached their highest levels since May 2022.

Referring to the weekly performance, Qasmieh noted that five sectors closed in the green zone, with the transportation sector achieving the highest gains at 2.27 percent, followed by the industrial sector at 1.68 percent. Meanwhile, the insurance and telecommunications sector indices both closed in the red zone.

The Investment Manager indicated the good momentum witnessed by the QSE over the past seven weeks, both in leading stocks and even in speculative stocks, with new liquidity entering the market during the previous period.

Concluding his statements to QNA, Qasmieh pointed to the shares of Investment Holding Group, which achieved the highest gains of 10.2 percent, followed by Baladna Company with 8.2 percent. Industrial shares also benefited from the rise in the prices of their products in global markets, such as urea and aluminum. Meanwhile, insurance sector shares declined during the current week, such as Qatar General Insurance and Reinsurance by 4.9 percent, followed by AlKhaleej Takaful by 2.2 percent. (QNA)