Morgan Stanley Review Hikes Trading, Achieves Weekly Gains For Stock Market
(MENAFN- The Peninsula) QNA
Doha: The Qatar stock exchange (QSE) index wrapped up this week's trading up, for the third consecutive week, by 1.67 percent, gaining 171.67 points to stand at 10,474.91 points.
On a weekly basis, the QSE performance during the current week was supported by the increase in 6 sectors, most notably the communications sector index, which rose by 3.26 percent, industry by 3.21 percent, transportation by 3.07 percent, Real estate by 1.52 percent, banks by 1.05 percent, and services and consumer goods by 0.37 percent, while the insurance sector decreased by 1.18 percent. In remarks to Qatar News Agency (QNA), financial market expert Ramzi Qasmieh said that there are a group of factors that led to the rise in the QSE index during the current week, achieving positive weekly and monthly gains.
He pointed out that today's session coincided with a weekly and monthly conclusion, as the QSE index achieved weekly gains of 1.67 percent, and monthly gains of approximately 3.97 percent, in addition to the fact that today's closings coincided with the implementation of the results of the quarterly review of the Morgan Stanley“MSCI” indexes issued earlier this February.
He indicated that the implementation of this review hiked today's trading values to reach around QR 1,519,119,261.652.
He added that the shares of QIB and Mesaieed Petrochemical received around 38 percent of the trading values as a result of that review, indicating that the continuation of annual distributions for listed companies and the improvement of their results compared to 2022 reflected positively on most of the sectors that make up the general index.
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