The Qatar Stock Exchange index rose during the current week by 1,270 percent, to add 129,820 points to its balance, reaching the level of 10,342 points, compared to the end of last week’s trading.
In this context, Youssef Buhulaika, a financial market analyst, said, in statements to Qatar News Agency (QMA), that what distinguished the Qatar Stock Exchange during the first week of April was the state of anticipation for the results of the listed companies during the first quarter of this year, noting that the rises witnessed in the first sessions From the week it benefited from the decision of /OPEC Plus/ to reduce oil production, which led to a rise in its prices in the global markets.
He explained that the declines witnessed in the last sessions of the week were profit-taking operations, expecting that the results of the listed companies that will be revealed next week with the announcement of the results of Qatar National Bank on April 10 will be better than those recorded in the same period last year. Especially in the banking sector that benefits from raising interest rates.
Bu Hulaika pointed out that this week witnessed a demand from foreign portfolios to buy, as a result of the increasing confidence in the Qatari economy, which is confirmed by the ratings of international credit agencies, the latest of which was Fitch Agency, which confirmed the sovereign credit rating of the State of Qatar at the level of AA-, while raising the outlook from stable to stable. positive.
The financial market analyst indicated, to QNA, that the selling operations of the portfolios are higher than the buying operations, given that they are in the process of changing positions, expecting the continuation of the positive performance of the Qatar Stock Exchange during the current month.
The weekly report of the Qatar Stock Exchange revealed an increase in the market value at the end of the week’s trading, to 601.473 billion riyals, compared to its level last week, which amounted to 592.485 billion riyals, while the value of stock trading was about 1.962 billion riyals, through the sale of 744.680 million shares, as a result of the implementation of 87,671 deals in all sectors.
