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The Qatar Stock Exchange Index closed the week 0.72% higher at 72,460 points and rose to 10,125 points on the back of the telecommunications sector which posted a weekly gain of 3,590% and banking and financial services which grew by 1,520%.
Against this background, financial market analyst Youssef Bu Haliqa predicted in a statement to Qatar News Agency (QNA) that the Qatar Stock Exchange Index will maintain its performance and continue to rise in the next stage, benefiting from the performance achieved by Qatari listed companies.
Bukharika said: The data disclosed by the Qatar Stock Exchange on company performance will increase investor attractiveness and enhance market liquidity in the coming period.
He noted that the Qatar Stock Exchange Index rose 0.7% in the past five days and fell 0.7% in the past 30 days, but was 10.5% higher than its lowest level on May 30 this year.
Data released by the Qatar Stock Exchange showed that profits of Qatari listed companies increased by 5.5% to 25.72 billion riyals in the first half of 2024, compared with approximately 24.386 billion riyals in the same period last year.
The banking and financial services sector posted a net profit of 14.9 billion riyals in the first half of this year, accounting for about 58% of the total profits of listed companies, followed by the industrial sector with a total profit of 4.645 billion riyals, and then the communications sector with 2.164 billion riyals.
The service and consumer goods industries saw the largest increase in the first half of this year, with net profit increasing by 22.7%, while the real estate industry’s net profit decreased by 12.32%.
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