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Qatar Stock Exchange records positive performance for 3rd month

Qatar Stock Exchange

Doha, (Business News Report)|| The Qatar Stock Exchange is still recording a positive performance for the third month in a row, according to a report by the Kamco Invest company.

The report said that most sectors in the Qatar Stock Exchange recorded a positive performance in February.

The Qatar Stock Exchange index rose by 3.6% during the past month to close at 12,948.8 points, the report said.

It explained that in terms of sectoral performance, six out of seven sectoral indices recorded monthly gains, topping the Qatar Stock Exchange index for the industries sector, which witnessed an increase of 8.1%, supported by the increase in the share price of Investment Holding Group by 60.6%.

In the second place came the telecommunications sector index, which recorded a gain of 3.4%, as the Ooredoo share recorded a growth of 5.6%.

The banking and financial services sector index ranked third, recording a growth of 3%, according to the same report.

The insurance sector index was the only one that witnessed a decline in February 2022, losing 2.3% of its value after the shares of Qatar General Insurance and Reinsurance Company and Qatar Insurance Company declined by 4.9% and 4.2%, respectively.

The State of Qatar ranked first in the Gulf region in the economic recovery index from the Coronavirus pandemic issued by the international economic magazine MEED, as it obtained a rating of 4 points. The UAE ranked second in the Gulf region, followed by the Kingdom of Saudi Arabia.

In a related context, the Qatar’s stock market index rose to its highest level in seven years, recording a 10% increase since the beginning of this year, at the end of last month.

The stock index gains its support from the industry sector, which rose by about 16.7 percent, and the banking sector, which jumped 6.5 percent, and the two sectors constitute about 76 percent of the weight of companies.

Meanwhile, the profits of the two sectors constitute approximately 88 percent of the profits of listed companies.

Financial analysts point out that the Qatar Stock Exchange index appeared at its highest level since February 2015, in addition to a noticeable increase in the daily trading values.

Since the beginning of the year, the average daily trading volume has reached 558 million riyals ($153 million), and the market value of stock exchange companies has increased to 731 billion riyals ($200 billion). Analysts expect the Qatar Stock Exchange to continue to achieve qualitative leaps during the World Cup year.

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