Financial Advisor to QNA: QSE Index Expected to Break 10,400 Points Barrier in Coming Period

The Qatar Stock Exchange (QSE) index concluded this week's trading up by 0.040 percent, to add 3.680 points, compared to the end of last week's trading, to stand at 10,322 points.

In this context, financial advisor Ramzi Qasimia said that the movement of the QSE index during the current week did not deviate from traders' expectations to witness relative stability, especially with the fixing of interest rates by the US Federal Reserve and the Qatar Central Bank, ending the end-of-week sessions at an increase of 28.31 points, or 0.27 percent, with the weekly closing at levels of 10,322 points, thus continuing its sideways movement between 10,200 and 10,400 points.

In his remarks to Qatar News Agency , the financial advisor pointed out that the QSE index is expected to break the barrier of 10,400 points in the coming period, supported by the third-quarter financial results of listed companies.

He added that most of the QSE-listed Qatari companies recovered during the current week following the reviews of the FTSE index during the past week, as these reviews enabled Dukhan Bank to enter the index and adjusted the weights of most Qatari companies.

He noted that trading values are still ranging between QR 450 and 500 million as average daily trading since the beginning of this month, with the exception of last Thursday's session, which coincided with the aforementioned reviews.

He said that most of the leading stocks moved during this week within narrow price changes, except the Industries Qatar stock, which continued to achieve gains since the beginning of this month, as it increased by around 14 percent as a result of the rise in global market oil prices that affected the industrial sector index, leading it to increase by 7.4 percent since the beginning of the month.

The financial advisor indicated the remarkable activity of the insurance sector, which rose by 3 percent, thanks to the positive impact of Qatar Insurance (QIC) stock, which has been achieving positive gains since the beginning of September.

The transportation sector index also achieved gains of approximately 1.7 percent due to the positive performance of Milaha company shares, which closed Thursday's session with a 3 percent increase, while the financial sector index declined by approximately 1.25 percent, and the services sector index declined by 1.2 percent.

Source: Qatar News Agency