Financial Analyst to QNA: Dividend Distributions Raise QSE Performance

Doha, January 26 (QNA) - The Qatar Stock Exchange (QSE) index returned to green zone in the fourth week of January, as the market broke the barrier of 11,000 points by adding 299.590, with a growth rate of 2.770 percent to rise to 11,110 points. Tamer Hassan, a financial analyst, described the QSE's trading during the current week as positive, pointing out that the index exceeded a level of more than 11,000 points, compared to last week's trading, despite the sharp fluctuations in transactions up and down. Talking to Qatar News Agency (QNA), Hassan said that this week witnessed an increase in the purchase of Qatari portfolios against an increase in the sale of foreign portfolios, bringing more to movement of the market which also benefited from more than expected distributions announced by some listed companies. The Commercial Bank's distribution, for example, contributed to an increase in trading for two consecutive sessions, he said. He added these developments in the stock market during this period were the engine that helped the index to exceed the barrier of 11,000 points, along with the decisive role for dividend distributions recommended to some general assemblies. The financial analyst pointed out that the profits disclosed by companies so far were above the expected level and will reflect on the performance of the Stock Exchange in the coming period, especially if there is attractive returns directed to investors. The weekly report of the Qatar Stock Exchange revealed an increase in the market value at the end of the week's trading, to reach QR 630.341 billion, compared to its level last week, which amounted to QR 614.268 billion, while the value of stock trading was about QR 2.323 billion through the sale of 677.674 million shares, as a result of the implementation of 74022 deals across all sectors. (QNA)