Doha, October 17 (QNA) – The Qatar Stock Exchange (QSE) index ended this week’s trading with a 2.13 percent increase, gaining 224,130 points to stand at 10,733 points compared to last week.

Sector-wise, the weekly performance was positive for all sectors, with the telecommunications sector achieving the highest gains of around 3.9 percent, followed by the financial sector by around 2.56 percent, then the real estate sector, which gained around 2.2 percent, with the positive performance of Ezdan shares during the current week, while the industrial sector was the least rising by around 1.1 percent.

In this context, financial advisor Ramzi Qasmieh told Qatar News Agency (QNA) that the positive weekly performance of the QSE index enabled it to rise to its highest level during 2024, reaching 10,733 points, after touching its lowest level at 9,165 points at the end of May.

Qasmieh pointed out the support that the general index received this week from the results of the listed companies, especially since most of them that have disclosed their results so far have achieved reasonable growth rates compared to the same period last year, in addition to the entry of new liquidity, especially from local institutions, into “leading performance” stocks.

The financial advisor added that the QSE owes its gains this week to banking sector shares, as QIB’s share rose during the current week by more than 4 percent, while the QNB share rose by around 2.8 percent.

The positive performance of Industries Qatar stock, which gained nearly 2 percent, as well as the Ooredoo stock, which rose by nearly 4.7 percent during the current week, also contributed to supporting the index’s performance.

On the other hand, Qasmieh noted that the QSE index ended the last session of the week with relative stability, with the weekly closing in the green zone for the second week in a row, at around 2.13 percent.

He said that returning to the performance of the stock exchange during today’s session, the index reached its highest levels at 10,747 points, touching the lowest levels of the session at 10,633 points, as a result of a price correction process for some leading stocks, to give them momentum during the coming period.

He pointed out that the shares of QIB, Industries Qatar, and Milaha supported the performance of today’s session to compensate for the decline of some other leading shares such as the CIB, Ooredoo, and Al Rayan Bank.

(QNA)