Financial Analyst to QNA: Qatar Stock Exchange index Enhances its Gains, QIA's Initiative Solidifies QSE Foundations
29 September 2022

Financial Analyst to QNA: Qatar Stock Exchange index Enhances its Gains, QIA's Initiative Solidifies QSE Foundations

Doha, September 29 (QNA) - Qatar Stock Exchange (QSE) index returned into the green zone at the closing of transactions in the last week of September, and by the end of the third quarter of 2022, to gain 0.41 percent compared to last week, and add nearly 51,470 points to its balance and rise to the level of 12,695 points. Speaking to Qatar News Agency (QNA) on this performance, the financial analyst Ramzi Qasmieh said that the QSE index closed in the last sessions of the week at the level of 12,695 points, which is an increase of 1.15 percent compared to its closing last Wednesday which are vital support levels that the index had waived it during the previous sessions, pointing out that these rises came with the support of the leading shares of the banking sector, especially Qatar National Bank (QNB) and the Islamic Bank, as well as the shares of Industries Qatar, which are the heaviest stocks in the index. The Financial Analyst indicated that the closing of transactions coincided with the end of September 2022, and by the end of the third quarter of 2022, and also with the amendment of the components of the stock market index and Al Rayan Index, which included some modifications, such as the entry of Qatar Insurance Company to the samples of QSE index and the exit of Al Salam Group, indicating that QSE benefited from the news received by the launch of Qatar Investment Authority (QIA) the market-making initiative that contributes to enhancing liquidity, which will further enhance trading values, in addition to attracting more foreign investments to it, and further enhancing the presence of companies in global indices. He stated that some brokerage firms announced the expansion of their umbrella, over which they will engage in market-making activity, to encompass the shares of important lead companies similar to those referred to, considering that this news boosted the morale of investors, which will be enhanced by the beginning of corporate earnings announcements for the third quarter of 2022. In his analysis, Ramzi Qasmieh clarified that the QSE index had gained 4.6 percent by the end of the third quarter of 2022, to reduce the losses for the month of September, which reached 5.5 percent, adding that the indicators for the current week were positive, as trading values ​​approached QR 3 billion, and the current outcome of the index of the stock market was positive, amounting to 0.41 percent, compared to a loss of nearly 4.5 percent in the previous week. The weekly report of the QSE revealed an increase in the market value at the end of the week’s trading to reach QR 705.337 billion, compared to its level last week, which amounted to QR 699.836 billion , in addition to recording the value of stock trading about QR 2.881 billion through the sale of 916.543 million shares, through striking of 90,714 deals. (QNA)