DOHA: The Qatar Stock Exchange (QSE) index closed the current week up 2.80 percent, adding 305.56 points to its tally, rising to 11,220 points.
The banking sector posted the highest weekly gains, rising 4.670 percent.
Commenting on this performance, financial market analyst Mubarak Al Tamimi told Qatar News Agency (QNA) that a number of factors helped the QSE index break through the 11,000-point barrier during the current week, particularly the performance of listed companies and their profits achieved in the first half of the current year and their announcement of interim dividends.
He pointed out that there is a trend by foreign and Gulf portfolios towards the Qatari market and the opportunities it provides compared to other markets, a trend that is expected to be strengthened in the coming period with the downward trend in interest rates and the rise in returns on shares of listed companies.
He considered the current situation a favorable opportunity for investors to strengthen their portfolios, increase their purchasing activity, and inject more liquidity into the market, especially given the attractive prices and the good distributions from companies.
He urged investors to avoid speculative activities if they are unable to master the techniques to avoid the high risks.
Concluding his weekly review of the Qatar Stock Exchange's performance, Al Tamimi highlighted that the general index is heading towards the nearest resistance level of 11,500 points, and if it exceeds that level, it will reach 11,917 points.
The Qatar Stock Exchange general index closed yesterday's trading higher by 33.26 points, or 0.30 percent, to close at 11,220.76 points.During yesterday's session, 203,973,739 shares, valued at QR481,644,404.329, were traded in 20,486 transactions across all sectors.
The session saw shares of 23 companies rise, 24 companies decline in their share price, and six companies maintain their previous closing price. Market capitalisation at the end of the trading session amounted to QR663,804,441,709, compared to QR660,597,304,275 in the previous session.
