(MENAFN- The Peninsula)
QNA
Doha: The Qatar stock exchange (QSE) index ended the current week's trading with an increase of 0.79 percent, gaining 80.43 points to its balance, thus increasing to 10,203.04 points compared to last week's closing.
This increase was supported by the rise of most sectors, led by the Real estate sector by 3.10 percent, insurance by 2.39 percent, banks and financial services by 1.32 percent, transportation by 0.90 percent, industry by 0.41 percent, and communications by 0.40 percent, while the services and consumer goods sector declined by 0.63 percent.
In his remarks to Qatar News Agency (QNA), financial market analyst Mubarak Al Tamimi said that expectations suggest that the market will continue to rise during the coming period.
He noted that the general index achieved gains of about 50 points during August and if it exceeds the level of 10,297 points, it will continue its upward journey to target 10,529 points, which is considered a strong resistance point that is expected to witness profit-taking operations.
The financial analyst pointed out that the general trends of the US Federal Reserve officials indicate“monetary easing” and lowering interest rates during the coming period, which is expected to lead to deepening and increasing liquidity in bonds and stock exchanges, which will positively reflect on the market in terms of trading and enhancing its attractiveness.
This week witnessed liquidity levels of QR 2.008 billion, while the trading volume reached 826,339,657 shares, with a number of deals reaching 72,582 deals across all sectors.
FTSE Russell announced in the past few days the results of the semi-annual review of emerging market indices, which will take effect on Sep. 19 after the closing of the Qatari market. The semi-annual review revealed the removal of five Qatari companies from the index of smaller capital companies, including Baladna, Makhazin, Mannai, Qatar National Cement, and Qatari Investors Group.
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