‘Qatari purchases supported QSE performance, gave optimism to traders’

Doha: The Qatar Stock Exchange (QSE) index ended this week s trading up by 2.29 percent, reducing the index s declines since the beginning of the year...

Doha: The Qatar Stock Exchange (QSE) index ended this week’s trading up by 2.29 percent, reducing the index’s declines since the beginning of the year to the level of 11.99 percent, supported by the performance of 6 sectors as services and goods sector achieved the highest gains at 7.7 percent, supported by the rise in Woqod shares, followed by the transportation sector with gains of approximately 3.8 percent, then the industrial sector with gains of 1.7 percent, while the insurance sector’s performance declined by 0.5 percent.

In this context, financial advisor Ramzi Qasmieh told Qatar News Agency (QNA) that QSE index closed its trading for the sixth consecutive session in the green zone, rising by approximately 0.43 percent compared to Wednesday’s session, bringing its gains in the past six sessions to 2.7 percent. He added that the index was able to regain the level of 9,532 points with the support of the shares of Woqod, QIB, Kahramaa, and CIB.

The financial advisor attributed the positive performance of the QSE index to net support for Qatari purchases, which shifted from net selling to net buying, as net Qatari purchases, whether for institutions or individuals, reached around QR237m over the past four days, which supported the QSE performance and gave optimism to traders.

He indicated that the current week witnessed a positive performance for the shares of Woqod, which increased by 11.5 percent, as well as the shares of Nakilat, which recorded gains of approximately 8.5 percent, then Industries Qatar, with approximately 3.3 percent, followed by the shares of Qatar Islamic Bank (QIB), with approximately 2.8 percent.