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Qatar Stock Exchange Index posts weekly gains supported by transportation sector
(MENAFN) The Qatar Stock Exchange (QSE) index concluded the week with a 0.29 percent rise, adding 30.16 points to close at 10,471.69. This growth was largely driven by the transportation sector, which saw a notable 3.37 percent increase.
Financial analyst Youssef Bouhlaiqa explained to QNA that the QSE index is now 14.2 percent higher than its lowest level on May 30, 2024, with gains concentrated in the past five days, despite a 1 percent decline over the last 30 days.
He noted that the index rose for a third straight day, climbing 0.4 percent (42.88 points) to its highest level since January 6.
Bouhlaiqa attributed the positive performance to easing geopolitical tensions in the region, following the announcement of a ceasefire agreement in Gaza brokered by Qatar, Egypt, and the United States, set to take effect on Sunday.
He also highlighted the favorable impact of corporate earnings announcements, including strong results from Qatar National Bank (QNB) and Qatar Islamic Bank (QIB), adding that more financial disclosures are expected to further influence the market in the coming weeks.
Financial analyst Youssef Bouhlaiqa explained to QNA that the QSE index is now 14.2 percent higher than its lowest level on May 30, 2024, with gains concentrated in the past five days, despite a 1 percent decline over the last 30 days.
He noted that the index rose for a third straight day, climbing 0.4 percent (42.88 points) to its highest level since January 6.
Bouhlaiqa attributed the positive performance to easing geopolitical tensions in the region, following the announcement of a ceasefire agreement in Gaza brokered by Qatar, Egypt, and the United States, set to take effect on Sunday.
He also highlighted the favorable impact of corporate earnings announcements, including strong results from Qatar National Bank (QNB) and Qatar Islamic Bank (QIB), adding that more financial disclosures are expected to further influence the market in the coming weeks.
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