Doha: The Qatar Stock Exchange (QSE) index ended the current week’s trading with an increase of 0.72 percent, gaining 72.460 points to its balance, thus rising to 10,1251 points, supported by the telecommunications sector, which achieved weekly gains of 3.590 percent growth, and the banking and financial services sector, which increased by 1.520 percent.
In this context, financial analyst Youssef Bouhlaiqa told Qatar News Agency that the QSE index would maintain its performance and continue to rise in the coming period, benefiting from the results achieved by the listed Qatari companies.
Bouhlaiqa said that the figures revealed by the QSE regarding the companies’ results would increase the attraction of investors and enhance the market’s liquidity in the coming period.
He pointed out that the QSE index rose by 0.7 percent in the past five days, while it fell by 0.7 percent in the past 30 days, but it is 10.5 percent higher than its lowest level on May 30, 2024.
Figures issued by the QSE showed a 5.5 perce
nt increase in the profits of listed Qatari companies during the first half of 2024, reaching QR 25.72 billion, compared to nearly QR 24.386 billion in the same period of 2023.
The banking and financial services sector recorded net profits in the first half of 2024 of QR 14.9 billion, or around 58 percent of the total profits of listed companies, followed by the industrial sector with total profits of QR 4.645 billion, then the communications sector with QR 2.164 billion.
The services and consumer goods sector achieved the largest gains in the first half of 2024, with its net profits growing by 22.7 percent, while the net profits of the real estate sector declined by 12.32 percent.
Source: Qatar News Agency