The QE Index has risen around 17 percent or 2,000 points in the first four months of this year, driven by strong performance by companies listed in the Qatar Stock Exchange.
The QE Index surged to 13,590 points at the end of April from 11,625 points at the end of last year, registering a gain of 1,965 points during the last four months.
During April, the index has risen around 58 points as it had started the month at 13,532 points. March proved a good month for Qatari stocks as the QE Index had started the month at 12949 points and ended at 13533 points, recording a monthly gain of 584 points.
The quarterly performance of the index has been much better. The monthly rise in March helped the QE Index to end the first quarter (Q1) of this year with a gain of over 1,900 points or 16 percent.
Even February was a positive month for the stock market investors. The QE Index recorded a gain of 450 points as the index had closed at 12498 on January 31 this year compared to 12,949 points on February 28.
Of all the months this year, January gave the best monthly gains to investors. The QE Index had surged over 800 points in January this year making it the best monthly gain in over a decade for investors.
The QE Index had ended at 12,498 points on January 31 against the closing of 11,625 points on December 30 last year, marking a monthly gain of 873 points or 7.5 percent- which was the highest ever monthly rise in over 10 years.
Companies listed in the Qatar Stock Exchange have ended the first quarter of the year on positive note by registering a robust increase in the net profits during January-February –March period. The combined net profits of 48 companies listed on QSE reached QR13.61bn for the first quarter of this year, recording a growth of 26.43 percent compared to same quarter in previous year.
Continued improvement in the health of global and local economy has boosted the performance of local companies.
Prices of crude oil have risen during the first quarter of this year to increase in demand. Economic activity has increased due to easing of restrictions imposed to curb cases of COVID-19.
Rising oil prices have boosted the revenue and profits of local companies. Also, Qatar’s economy has witnessed a robust recovery which has increased demand for goods and services in the country.
