Doha: The Qatar Stock Exchange (QSE) index ended the current week’s trading with an increase of 0.73 percent, gaining 75 points to its balance, thus increasing to 10,398.32 points compared to last week’s closing.
In his remarks to Qatar News Agency , financial analyst Youssef Bouhlaiqa attributed the market’s rise this week to the decision of the Board of Directors of Qatar National Bank (QNB) to buyback QNB shares worth up to QR 2.9 billion, which had a positive impact on market activity in terms of volume, liquidity, trading, and market value.
QNB stock topped the list of the most rising shares in today’s trading by 4.841 percent and the highest in value by around QR 94 million. The bank led the banking and financial services sector to rise during this week by 2.36 percent, achieving gains of 105.19 points.
The financial analyst considered that QNB’s decision to buyback its shares enhanced the attractiveness of the market and trading activity. He pointed out that it will also support confidence between t
he bank and shareholders and will improve the level of liquidity of the bank’s shares in the market, expecting other companies in the QSE to follow the decision of QNB Group in the coming period.
This week saw an increase in the liquidity levels in the QSE, reaching around QR 1.629 billion compared to QR 1.580 billion last week. The trading volume during the current week reached 609,907,212 shares, with a number of deals reaching 63,118 deals across all sectors.
Source: Qatar News Agency