Mubasher: The Qatar Stock Exchange's (QSE) main index has witnessed a 17.05% increase since the beginning of 2018 until Wednesday's close, making it the best performing market across emerging and developed peers globally.
By the end of Wednesday’s session, the general index hiked 151.4 points, or 1.54%, to finish at 9,976.51 points, registering the highest level in 14 months. The banking sector led the market, outpacing Saudi Arabia as the top-performing index in the Gulf region.
The Saudi stock market (Tadawul) has risen 14.7% during the same period, according to Qatar Tribune.
Foreign net inflows in the Qatari bourse recorded $1.45 billion during the six-month period ended 30 June, reflecting confidence in the outlook for the gas-rich nation, particularly among overseas investors.
"QSE has proven its ability to overcome the challenges of the economic blockade, which brought the best out of Qatar's capital market, and performance has exceeded expectations with positive results on all levels," Rashid bin Ali Al Mansoori, CEO of QSE, commented.
Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic and trade ties with the gas-rich state, accusing Qatar of financing terrorism. Doha forcefully denies the charges.
