Doha, June 18 (QNA) - Qatar Stock Exchange's general index closed this week's trading session higher by 2.41 percent, gaining 247.040 points to reach 10,510 points compared to the previous week, supported by gains across most sectors.

Transport sector recorded the highest gains with an increase of 6.320 percent, followed by the banking and financial services sector at 4.15 percent, while the telecommunications sector declined by 0.510 percent.

In this context, financial analyst Mubarak Al Tamimi told Qatar News Agency (QNA) that the Qatar Stock Exchange index is still moving within a sideways range between key support and resistance levels, noting that the 10,770-point level remains the most important resistance barrier, which the index has failed to break since April.

He added that the fundamental factors supporting the market have begun to improve, pointing out that positive regional developments are expected to boost investor confidence and increase risk appetite in regional markets, including Qatar's.

Al Tamimi explained that successfully breaking through this level and closing above it would provide the market with renewed positive momentum, pushing the index toward 11,052 points as a first target, followed by 11,515 points in the next phase.

He also noted that investors are awaiting the announcement of second-quarter 2026 earnings results for listed companies, which will play a key role in determining the market's direction in the coming period.

Results that meet or exceed expectations would provide additional support for the index and increase the likelihood of continued upward movement toward the targeted levels.

He further stated that the periodic review results of the FTSE indices are expected to enhance liquidity and attract additional foreign investment flows into the market, which could support an upward correction in the general index.

The analyst concluded that the 10,770-point level remains the key determinant of the next market direction, as breaking it would strengthen the chances of entering a new upward phase targeting 11,052 points and then 11,515 points, supported by improving economic fundamentals, corporate earnings, and expected investment inflows. (QNA)