Doha, August 06 (QNA) - The Qatar Stock Exchange (QSE) index closed the week up 1.93 percent, gaining 191.56 points from last week's close to settle at 10,112.25 points, supported by gains across six sectors, while the consumer goods and services sector posted losses.
Commenting on the market's performance, financial analyst Mohammed Salem Al Darwish told Qatar News Agency (QNA) that geopolitical developments in the region had a direct impact on market performance over the past period, noting that de-escalation efforts contributed to supporting the stock market this week.
He said the index had broken above 10,000-point level and is expected to maintain its gains above that threshold next week, supported by positive indicators pointing to easing regional tensions.
Al Darwish also expected that signs of de-escalation and a potential agreement to reopen the Strait of Hormuz would provide further support for the market and help sustain the index's gains, citing the strength of the Qatari economy and the solid financial position of listed companies.
QSE data showed that the insurance sector recorded the strongest weekly performance, rising 3.52 percent, followed by telecommunications at 3.51 percent, transportation at 3.48 percent, banking and financial services at 2.57 percent, real estate at 1.45 percent, and industry at 0.55 percent. The consumer goods and services sector, meanwhile, declined by 0.56 percent.
During the week, a total of 678,213,770 shares were traded, with a combined value exceeding QR 1.69 billion, across 124,383 transactions in all sectors. (QNA)