Doha, Qatar: The Qatar Stock Exchange (QSE) index finished this week’s transactions of the last three sessions by gaining 3.6 percent, as the index gains since December reached 2.43 percent, reaching levels of 10,285 points compared to last week adding 357.580 points.
In his remarks to Qatar News Agency (QNA), Financial advisor Ramzi Qasmieh considered QSE’s performance this week the best since the last week of October.
The financial advisor attributed the positive performance of the index to the entry of new liquidity into the market, especially in Tuesday’s session, which targeted leading stocks, especially bank stocks, such as QNB, QIB, and Commercial Bank, in addition to the shares of Industries Qatar and Nakilat.
He expected that the last week of 2023 would witness positive movement, especially in the leading stocks in the banking and industrial sectors.
Qasmieh pointed out the positive impact of stabilizing interest rates, as it contributed to raising the morale of traders, stressing the importance of annual closings as we approach the end of the year, which will have an impact on the performance of portfolios, and thus on the profitability of companies, pointing to the building of new centers, especially by institutional portfolios in preparation for the end of the year, targeting leading stocks such as QNB, Nakilat, and Industries Qatar.
The financial advisor considered that the disclosure of the new budget data also had a positive impact on various traders on the QSE, especially with the expected surplus despite the adoption of a conservative reference price for oil at levels of USD 60 per barrel.
Qasmieh pointed out that the QSE index reduced its losses to 3.71 percent, after reaching 11 percent during part of the year.
He said that the financial sector topped the list with the highest gains during the last three sessions with about 3.75 percent, followed by the communications sector with 3.28 percent, transportation with 2.36, and the industrial sector
