'QSE index maintained cohesion despite global markets’ declines'

Doha: Qatar Stock Exchange (QSE) index ended the current week s trading with a decrease of 0.77 percent, losing 77.740 points to its balance, thus fal...

Doha: Qatar Stock Exchange (QSE) index ended the current week’s trading with a decrease of 0.77 percent, losing 77.740 points to its balance, thus falling to 10,053.01 points, compared to its closing in the past week.

In his analysis of the QSE’s performance, financial analyst Mubarak Al Tamimi highlighted the QSE’s general index’s consistency during the period in which global stock exchanges witnessed a wave of decline, known as the black Monday shock, supported by the shares of leading companies such as Industries Qatar, Qatar National Bank (QNB), and Qatar Islamic Bank (QIB).

In remarks to Qatar News Agency (QNA), Al Tamimi said that the general index was stable this week after the sharp declines during Monday’s session, and was able to close above the 10,000 point level due to the gains of the QIB’s shares and Industries Qatar in the last trading session.

He noted that the QSE index did not witness the increases achieved by the global market indices, as it reached its highest peak in the session of July 16 when it closed at 10,205 points, which proves the weakness of the QSE’s impact from the series of declines witnessed by global markets during this week, and its ability to absorb those declines.

He pointed out that the shares of a number of small and medium-sized listed companies on the QSE are witnessing a wave of decline, with the exception of some shares, such as the shares of Gulf International Services Company and Baladna Company, which are currently witnessing a wave of rise.