QSE makes weekly gain of 2% on easing geopolitical tensions
Satyendra PathakDohaThe Qatar Stock Exchange (QSE) index extended its upward trend this week, rising 2 percent, or 193.720 points, to close at 9,876 points and remain firmly in pos...
The Qatar Stock Exchange (QSE) index experienced a weekly gain of 2%, or 193.720 points, reaching a closing level of 9,876 points, according to recent reports. The market's performance was bolstered by gains across various sectors, with communications and transportation sectors leading the charge, ascending by 3.81% and 2.92% respectively.
This upward trend marked the QSE's fourth consecutive week of gains, indicating a strengthening investor sentiment as geopolitical tensions eased. Analyst Yousef Buhlaiqa pointed out that the positive market movement was a result of optimism over regional developments and hopes for diplomatic efforts to reduce uncertainty surrounding the Strait of Hormuz.
The index approached the psychologically significant 9,900-point level, supported by increased buying interest in leading stocks and companies within the transportation sector. This development came despite a decline in global oil prices, but the QSE's gains bode well for the market's future, with analysts expecting the index to continue its upward trajectory towards the 10,000-point level in the coming week.
Written by urgent.news from Qatar Tribune Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
