QNA
Doha
The Qatar Stock Exchange (QSE) index concluded the current week with an increase of 2.67 percent, gaining 259.400 points to reach the level of 9,961 points.
In remarks to Qatar News Agency (QNA), financial market analyst Youssef Bouhlaiqa said that the QSE index continued to rise for the fifth consecutive week and also for the 18th consecutive day, heading toward the largest weekly gains since December 28.
The financial market analyst indicated that the QSE achieved weekly market gains amounting to around QR12 billion, with its capitalisation rising at the end of the week’s trading, to QR575 billion compared to its level last week, which amounted to QR563 billion, while the value of stock trading recorded around QR 2.186 billion through the sale of 677,266 million shares as a result of executing 77,108 transactions across all sectors.
Youssef Bouhlaiqa pointed out that Nakilat achieved the largest gains during today’s session, having the largest movement, as its stock rose by 3.7 percent.
Bouhlaiqa noted the demand witnessed this week for foreign portfolios to purchase, as a result of the growing confidence in the Qatari economy, which is confirmed by the ratings of international credit agencies, stressing the QSE’s efforts to diversify the products and investment channels for investors, especially since Wednesday’s session that witnessed the listing of the shares of Techno Q, which came successful with the stock price rising by 30 percent compared to the official opening.
In a related context, he said that starting next July, investors’ eyes will turn to the results of listed companies during the second quarter of this year, which is expected to begin with the results of Qatar National Bank (QNB).
On the other hand, Al Khaleej Takaful Insurance announced that S&P Global Ratings has upgraded the outlook for the long-term credit rating of the company’s financial strength to BBB+ from stable to positive.
In a statement published on the QSE’s website on Thursday, the company said that the report emphasised that the company has a track record of superior underwriting performance with a five-year average outperforming most of its domestic and regional peers.
