Data and statements by financial analysts revealed that the Qatar Stock Exchange index breached this morning, Wednesday, the level of 14,000 points for the first time since May 2014, supported by the rise in oil prices in global markets, the good financial results of companies, the repercussions of the war in Ukraine, and the support measures provided by the State of Qatar.

The index reached 14,143 points at 11:30 local time, an increase of 3.46% from yesterday's session, before falling slightly during the morning trading, and the index is up by about 20% since the beginning of this year.

Financial analyst Alaa Al-Sheikhly said in a statement to Al-Jazeera Net that the Qatar Stock Exchange index rose during today's trading to approach its highest level ever of 14,395 points, which he had recorded in September 2014.

Al-Sheikhly expected that the positive momentum in the market would continue if the same current global data continued at least until the 2022 World Cup in Qatar next November.

He explained that the financial and industrial sector came at the forefront of the sectors that were affected and positively affected the rise of the Qatar Stock Exchange index, as the industrial sector rose during 2022 by nearly 40%, while the financial sector rose by nearly 19%.

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The Qatar Stock Exchange index breached the 14,000 point level for the first time since May 2014 pic.twitter.com/zcQXk6lA5e

— CNBC Arabia (@CNBCArabia) April 6, 2022

Al-Sheikhly attributed the reasons for this rise to:

  •  The rise in energy prices in global markets, as oil rose to levels that reached more than 130 dollars per barrel, as well as the case for gas, nickel, and aluminum, which in turn reached record levels.

  • The market benefited from the orientations of foreign portfolios to invest and the increase in the weights of Gulf stocks, in light of fears of the volatility of international markets following the repercussions of Russia's war on Ukraine and the flight of capital from Europe.

  • The financial sector benefited from the new global trend in monetary policy represented in raising interest rates.

  • The stability of the monetary and financial policy in the country and the positive indicators of the state’s macroeconomic situation. The GDP increased by more than 2% during the past year, while the International Monetary Fund expects growth rates to reach more than 3% this year, in addition to a high trade balance surplus.

  • The positive and strong results of the companies listed on the stock exchange during the past year, as the combined profits of the companies grew by more than 57%, and there are expectations that this positive feature will continue during the current year in light of the lifting of restrictions related to Corona, and the rise in energy prices and interest rates.

  • The World Cup is approaching, which is the most important event for the country this year.

Alaa Al-Sheikhly: The financial and industrial sector came at the forefront of the sectors that were affected and positively affected the rise of the Qatar Stock Exchange (Al-Jazeera)

Some observers expected that the Qatar Stock Exchange index would reach the level of 14,800 points during the upcoming trading sessions.

Launching a new trading system

The Qatar Stock Exchange announced on Tuesday that it had concluded an agreement with the London Stock Exchange Group to launch a new trading system.

Under the agreement, the London Stock Exchange Group will provide Qatar Stock Exchange with a new trading and monitoring system that will replace the current system, and will enable the Qatar Exchange to launch a derivatives trading market in the future.

The new systems and solutions that will be provided to the Qatar Stock Exchange are based on the same financial market technology used in the London Stock Exchange, which is advanced, scalable and high-performance technology.