QSE reaches highest level in two years

Last year’s rally has shown no signs of slowing down in 2019 as the record run in Qatari stocks appears to be gaining momentum. Qatar’s stock market hit its highest level in nearly two years on Thursday as financial stocks boosted the market ahead of corporate earnings and dividend announcements next week. The Qatar Stock Exchange (QSE) main index rose 127 points, or 1.2 percent, on Thursday to hit its highest level since March 2017 as 14 of its 20 stocks in the main benchmark index gained. The index was boosted by financial shares, with Industries Qatar adding 2.9 percent and Qatar Islamic Bank increasing 1.3 percent. Bellwether Qatar National Bank (QNB) rose 0.8 percent to push the index higher on the day to close the first full trading week of 2019 on a positive note. Having declared as the best performing stock market in the region with gain of over 20 percent in 2018, Thursday’s impressive rise helped QSE kick off weekly trade with a bang in the New Year. The Qatar Stock Exchange (QSE) main index gained 307.87 points, or 2.97 percent, during the first trading week of 2019 to close at 10,658.22 points.

— Satyendra Pathak
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