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Qatar Stock Exchange makes QR2.3 billion in profits last week

Qatar Stock Exchange

The Qatar Stock Exchange recorded profits of about 2.3 billion riyals ($630 million) during the past week.

The market value of Qatar Stock Exchange shares reached 638.2 billion riyals ($175.290 billion).

The stock exchange continued to achieve profits for the fourth consecutive week, as its index achieved a growth of 1.03% after closing at 11033.4 points, its highest level in five years.

Qatar Stock Exchange

Trading volumes during the past week amounted to about 872 million shares, through 45.3 thousand transactions.

The Qatari banking sector rose by 1.9%, while the transportation sector rose by 0.03%, while the industrial sector decreased by 1.3%.

The real estate sector recorded a decrease of 0.18%, the communications sector fell by 0165%, the insurance sector decreased by 0.08%, and the services sector fell by 0.06%.

The banking sector ranked first in terms of trading values ​​with a share of 43.1% of the total trading, and the industry sector came in second place with a share of 28.7%, then the services sector with 14.2%.

The industry sector came first in terms of the number of traded shares with a rate of 43.3%, followed by the services sector with 24.1% of the total traded shares, while the banking sector came in third place in terms of the number of traded shares by 17.5%.

The performance of the stock exchange coincided with expectations that indicated that it was on the verge of new heights, which motivated investors to increase their purchases of shares with the clarity of the market direction, according to the newspaper.

Gulf Stock Exchanges

In a separate context, most of the Gulf stock exchanges recorded a sharp decline, led by Saudi Arabia, a few days ago.

Global stock markets also fell due to the spread of the delta variant of the Coronavirus and the US Federal Reserve’s hints about reducing the bond purchase program.

Sentiment in the Gulf markets was also affected by the continued sharp decline in crude oil prices for the sixth consecutive session.

Brent crude contracts for October delivery fell by $2, or 2.95%, to $66.2 a barrel, and US West Texas Intermediate crude contracts for October delivery fell by $2.05, or 3.14%, to $63.16 a barrel.

The Saudi market index declined by 1.26%, and closed at 11201.6 points, as the indices of 18 sectors incurred severe losses out of 21 sectors.

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