Market Leaders Boost Index, Upside Ahead

Qatar

Qatar Stock Exchange gained, during the two trading sessions that the general index activity was limited to this week, about 215,050 points, or 2.17 percent, bringing its index to the level of 10,145 points.

Regarding this performance financial market analyst Youssef Buhulaika attributed in statements to Qatar News Agency (QNA), the positive performance of the Qatar Stock Exchange index during the current week to the strong performance of the leading stocks, such as the shares of Industries Qatar and Qatar National Bank, in addition to the performance of some speculative stocks, and this performance is expected to continue for the Qatar Stock Exchange during the next week, supported by the financial results of the listed companies, which have so far achieved more profits than investors expectations.

He pointed out that these expectations are based on a number of elements, including the stability of raising interest rates by the US Federal Reserve, whose rate of increase is scheduled to be in the range of 25 basis points, but he pointed out that the decline in gold prices in global markets indicates a shift in the mindset of investors when it comes to financial markets, and Qatar Stock Exchange will benefit in the coming period from the entry of foreign investment portfolios.

He also expected the prices of oil to increase in the coming period, which will boost some of the industrials.

(QNA)