Doha, Feb 21, 2026, 10:53 GMT+3 — Market is now closed
Qatar National Bank (QNBK) wrapped up Thursday at 19.68 Qatari riyals, off about 3.5% for the week but still holding onto a 5.5% gain year-to-date. The main QE Index on the Qatar Stock Exchange slipped 2.5% this week, closing at 11,229.06, and market capitalisation eased down to 669.4 billion riyals, data from QNB Financial Services show. QNBFS put weekly traded value at 2.03 billion riyals, down 11.5%, with QNBK once again leading by value. The firm also pointed to Qatar Islamic Bank, Industries Qatar, and Ooredoo as the week’s key index laggards. 1
Another price cue lands soon. Qatar Stock Exchange opens Sunday to Thursday, pre-market at 9:00 a.m., then regular trading from 9:30 a.m. Doha time, according to the exchange. 2
Thursday saw a sharp pullback across Gulf markets, with investors weighing Washington and Tehran’s push for talks on Iran’s nuclear program—even as military activity ramped up on both sides. “Rising geopolitical tensions triggered risk aversion,” said Milad Azar, market analyst at XTB MENA. Doha’s main index dropped 1.6%, with QNBK shares also sliding 1.6% in the session. 3
This hits home for Qatar: banks tend to steady the market during quiet spells, but they’re also the first spot investors yank cash from when weekend confidence fades.
Headlines rolled in over the weekend. On Friday, U.S. President Donald Trump told reporters at the White House, “I guess I can say I am considering” a limited military strike on Iran. 4
But here’s the catch for traders: while higher oil prices often give Gulf markets a lift, a steeper risk premium has a way of putting pressure on banks and companies tied to consumer demand simultaneously.
QNBK’s role in local portfolios works both ways. When buyers step in, it can help stabilize the tape. But if sentiment sours, the same exposure tends to make rough days feel even worse.
