Doha: Qatar Stock Exchange's general index closed this week's trading session higher by 2.41 percent, gaining 247.040 points to reach 10,510 points compared to the previous week, supported by gains across most sectors. Transport sector recorded the highest gains with an increase of 6.320 percent, followed by the banking and financial services sector at 4.15 percent, while the telecommunications sector declined by 0.510 percent.
According to Qatar News Agency, financial analyst Mubarak Al Tamimi highlighted that the Qatar Stock Exchange index remains within a sideways range between key support and resistance levels. He pointed out that the 10,770-point level remains the most critical resistance barrier, which the index has not surpassed since April.
Al Tamimi remarked that fundamental factors supporting the market are improving, with positive regional developments expected to bolster investor confidence and increase risk appetite in regional markets, including Qatar's. He outlined that surpassing the 10,770-point level and closing above it would inject renewed positive momentum into the market, propelling the index toward an initial target of 11,052 points, followed by 11,515 points in the subsequent phase.
The financial analyst also indicated that investors are keenly awaiting the announcement of second-quarter 2026 earnings results for listed companies, which will be pivotal in determining the market's trajectory in the upcoming period. Results meeting or exceeding expectations would provide further support for the index and enhance the probability of continued upward movement toward the targeted levels.
Moreover, Al Tamimi mentioned that the periodic review results of the FTSE indices are anticipated to boost liquidity and attract additional foreign investment flows into the market, potentially supporting an upward correction in the general index.
In conclusion, the analyst emphasized that the 10,770-point level remains the key determinant of the market's next direction. Breaking this level would amplify the chances of entering a new upward phase targeting 11,052 points and subsequently 11,515 points, underpinned by improving economic fundamentals, corporate earnings, and expected investment inflows.