Doha: The Qatar Stock Exchange (QSE) index ended the week with a 1.07% decline, losing 113.44 points to settle at 10,455 points, compared to last week’s close. The drop was primarily driven by the industrial sector, which saw the largest decline of 2.04%, followed by the services and consumer goods sector with a 1.09% decrease, and the real estate sector at 1.05%.
Despite the weekly decline, financial markets analyst Youssef Bouhlaika highlighted that the QSE index is currently 14.1% higher than its lowest level on May 30, 2024, and 3.5% lower than its highest point in the past 52 weeks.
Market Movements and Trading Highlights
Bouhlaika noted that the QSE index is moving within a sideways range between 10,400 and 10,500 points, with a focus on maintaining support levels. Investors are closely watching the resistance range of 10,800 to 11,000 points as a potential breakout zone.
In Thursday’s session, the general index rose 0.34%, gaining 35.04 points to close at 10,455 points, slightly recovering from Wednesday’s level.
Key trading highlights from the session include:
Ezdan Holding led trading volumes with 16.81 million shares traded.
QNB stock topped liquidity activity with a total value of QR 49.8 million.
Total trading values for the session increased to QR 389 million, up from QR 363 million on Wednesday.
Trading volumes grew marginally to 134.59 million shares, compared to 133.34 million shares in the previous session.
Outlook
The QSE index continues to navigate within a narrow range, seeking stability amid market pressures. Analysts suggest that breaching the resistance levels near 10,800-11,000 points could signal a bullish trend, while maintaining support at 10,400 points remains crucial for investor confidence.
