Quarterly earnings announcements, tariff hold support stock market's rise: financial analyst

Doha: The Qatar Stock Exchange (QSE) index closed the current week with a gain of 124.33 points, or 1.23 percent, to stand at 10,260.17 points compare...

Doha: The Qatar Stock Exchange (QSE) index closed the current week with a gain of 124.33 points, or 1.23 percent, to stand at 10,260.17 points compared to the end of last week's trading.

This was supported by the rise of six sectors, led by the telecommunications sector, which surged by 3.47 percent, followed by the real estate sector by 2.16 percent, banks and financial services by 2.15 percent, the insurance sector by 2.06 percent, then the services and consumer goods sector, which rose by 1.66 percent, and transportation, which gained 0.51 percent, while the industrial sector declined alone by 1.33 percent.

In this context, Financial analyst Mubarak Al Tamimi told Qatar News Agency (QNA) that the weekly rise in the QSE index was due to a number of factors, particularly the continued disclosure of financial statements by listed companies for the period ending March 31, 2025, the continued distribution of some 2024 profits, and the US suspension of tariffs on some countries for 90 days, which had a positive impact on the market.

The financial analyst indicated that the index was undergoing a technical correction after reaching 10,714 points, adding that the tariffs were an additional factor that led to the decline of the market and other markets in the region and the world.

He pointed out that the index is currently targeting 10,571 points, amid relatively positive performance, marked by optimism among investors, supported by companies' continued disclosure of their operating results for the first quarter of this year.