Qatar Stock Exchange closes week with continued decline
Date
12/29/2024 7:21:33 AM
(MENAFN) The Qatar stock exchange (QSE) index concluded the week’s final session with a drop of approximately 52 points, or 0.5 percent, ending at 10,413 points. This marks the second consecutive weekly decline, with the index falling 0.46 percent this week, following a 0.66 percent decline the previous week.
Financial advisor Ramzi Qasmieh, speaking to Qatar News Agency (QNA), attributed the session's downturn to pressure from the banking sector. Leading the losses were shares of Qatar Islamic Bank (QIB), down 1.24 percent, Qatar National Bank (QNB), which fell 0.4 percent, and Commercial Bank, which declined by over 1 percent.
In terms of weekly sector performance, Qasmieh noted that the industrial sector was the sole gainer, closing up by 0.42 percent. Other sectors saw losses, with the insurance sector declining by 2.69 percent and the communications sector dropping by 1.72 percent.
Expressing optimism for 2025, Qasmieh emphasized the importance of revitalizing the initial public offering (IPO) market by introducing new companies to shareholders, a move he believes would bolster the stock market’s performance.
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