QSE index holds support levels ahead of annual corporate results

Doha: The Qatar Stock Exchange concluded the final session of the current week with a marginal loss of 0.14 percent, dropping to 10,441 points. This m...

Doha: The Qatar Stock Exchange concluded the final session of the current week with a marginal loss of 0.14 percent, dropping to 10,441 points. This marked a weekly decline of approximately 1.23 percent, with the index losing 129.56 points over the week, following a 1.5 percent gain in the last week of 2024.

Speaking to Qatar News Agency (QNA), Ramzi Qasmieh, a financial advisor, said that the index maintained the 10,400-point level this week, closing above this threshold after testing key support levels at 10,365 points during the week.

Regarding liquidity, Qasmieh noted that the total trading value for the first week of the year reached approximately QR 1.85 billion, with an average weekly trading value of around QR370m.

Reflecting on today’s session, the financial advisor pointed to mixed performances among leading stocks. Ooredoo’s stock rose by over 2 percent, reaching its highest level since 2014, closing at QR 12.14. Meanwhile, QNB’s stock declined by nearly 0.8 percent, closing below QR17, partly due to the bank halting its treasury share buyback program ahead of its results announcement next week. Commercial Bank’s stock also fell by approximately 1.28 percent.

Discussing sectoral performance, the financial advisor highlighted that the telecommunications sector index recorded the highest gains, rising by about 4.37 percent, driven by Ooredoo’s stock surge. The services and consumer goods sector index also gained around 0.65 percent, coinciding with the rise in Zad Company’s stock.