Doha: The Qatar Stock Exchange (QSE) index ended this week’s trading up by 0.66 percent, adding 69 points to stand at 10,514 points.
In this context, investment manager at Qatar Securities Company (QS) Ramzi Qasmieh (pictured) told Qatar News Agency (QNA) that the QSE index closed at its highest point during the current week, as its weekly movement ranged between 10,514 points and 10,362 points.
Qasmieh said that by following the sectoral performance of the components of the QSE, it is noted that most of them closed in the green zone, as the transportation sector achieved the highest performance during the current week with gains exceeding 3 percent, followed by the communications sector with gains of 1.8 percent, then the real estate sector with nearly 1.7 percent, while the insurance sector index closed stable.
Qasmieh added that the best-performing stocks during the current week were mostly those outside the index sample, with the exception of Nakilat, which rose by 3.8 percent, UDC by 3.78 percent, and Milaha by 2 percent. The most declining stocks during the current week were Gulf International Services, which fell by nearly 6 percent, followed by Lesha Bank, which fell by 4.5 percent.
He pointed out that today’s session closed with an increase of about 0.21 percent and at the highest level of the index during this week at 10,514 points, thanks to the rise in the transportation sector shares, in addition to the rise in shares such as Kahramaa and Dukhan Bank at the close. He noted that the volatility of the performance of global financial markets, the trading of a number of Qatari stocks without entitlement to cash dividends, and the decline in liquidity levels are all factors that combined to affect the performance of the QSE.
Qasmieh said that the markets are witnessing a state of uncertainty as a result of the US tariffs imposed on a number of countries and their repercussions on inflation and global economic growth.
He noted that what concerns the Gulf countries is the global demand for oil, as the repercussions of these tariffs have begun to appear, as the price of a barrel of Brent crude oil has fallen below $70 for the first time in nearly 6 months
