Financial Advisor to QNA: QSE Index Achieves 1.3% of Gains Since Beginning of July

Doha: The Qatar Stock Exchange (QSE) index wrapped up this week's trading down by 0.39 percent to stand at 10,098 points, while achieving a positive weekly performance of around 0.64 percent, achieving 1.3 percent gains since the beginning of July. In this context, financial advisor Ramzi Qasmieh told Qatar News Agency that the weekly closing was in the green zone for the 7th week out of eight, while the index has been trading for nearly three weeks within a horizontal range between 10,000 and 10,200 points. Qasimia noted a decrease in the levels of liquidity and trading due to the holiday season and the lack of new liquidity entering the market. He indicated that the shares, or the majority of them, did not react to the positive performance of companies' profits, adding that the combined profits of companies that announced their results up to the present time recorded a growth of around 7.7 percent. As for the weekly sectoral performance, the financial advisor pointed out that the telecommunications secto r index occupied the forefront with gains of approximately 1.73 percent, followed by the financial sector with gains of approximately 1.6 percent, while the real estate sector declined by about 1.67 percent. In a related context, he added that the performance of the general index was affected by the trading of the shares of the Qatar Islamic Bank (QIB) and Dukhan Bank without the eligibility for interim distributions, which put pressure on the index's performance in today's session. However, the rise in the shares of Industries Qatar and Qatar National Bank (QNB) at the end of the session mitigated or reduced the impact of the decline in QIB's shares at the end of the session. Regarding the best-performing stocks during the current week, Qasmieh pointed out the increase recorded by QLM stock by 4.74 percent, then Baladna by 4.1 percent, then QNB by around 3.3 percent. As for the stocks that recorded the greatest declines, the shares of Ezdan Company settled in the last three places at 4.16 percent, Doha Ban k at 4.10 percent, and Qatari Investors Group at 3.64 percent. Source: Qatar News Agency