Qatar Stock Exchange (QSE) index continued its positive performance for the second week in a row during April, as it managed to enhance its gains at the end of this week’s trading by recording a rise of 0.250 percent, adding 35.6 new points to its balance and rising to the level of 14,125 points, compared to its level in the past week.
In this context, financial analyst Jaber Ali Al Hedfa affirmed in his reading of QSE’s weekly performance that the index’s breakthrough into this historical level at the beginning of the week is an achievement to be reckoned with QSE.
In a statement, Al Hedfa told Qatar News Agency (QNA) that the recovery of the QSE index is a sign of confidence in the Qatari economy that was confirmed by the competent financial authorities and institutions, the latest of which was the rating granted by Fitch Ratings, affirming Qatar’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AA-’ with a Stable Outlook.
The weekly report of QSE indicated that the market value of the shares increased by the end of the week’s trading to reach QR791,831bn, compared to its level last week of QR789.645bn, a growth of 0.276 percent.
The financial analyst explained that the index also benefited from the strength of the listed companies, which achieved good results in 2021, adding that they are expected to strengthen during the first quarter, especially since many of them began to reveal an increase in their profits by remarkable rates, which increases the attraction of local and foreign investment portfolios, and thus more liquidity in the market.
The report indicated that the value of trading on shares this week amounted to QR4.677bn, distributed over 1.126 million shares, after 106,370 transactions were made.
At the end of his reading of QSE’s weekly performance, Al Hedfa pointed out that the companies linked to the oil and gas sector, as well as the banking sector will continue to lead the market, especially in light of the recorded rise in the prices of these products in global markets.
He also expected the distinguished performance of QSE index to continue in the coming period, with the possibility of breaking the barrier of 15,000 points in the medium term at the end of 2022’s second quarter, taking into account the geopolitical changes and their impact on global markets.
