DOHA, March 7, 2026, 11:18 (UTC+03:00)
Qatar’s main QSE index dropped 3.22% for the week ending March 5, settling at 10,699.28. Even with a 1.04% uptick in Thursday’s last session, QR21.73 billion in market capitalization vanished. Out of 54 stocks, 48 finished lower, while traded value slid 9% to QR2.5 billion. Selling hit transport and industrial names particularly hard.
This is significant—traders are now factoring in a jolt to Qatar’s energy sector. On Wednesday, Reuters said Qatar invoked force majeure on its gas exports, a legal out for suppliers when unexpected events halt shipments. The Gulf state, which is behind roughly 20% of LNG worldwide, signaled it could take a month or more before production stabilizes.
Losses hit fast. Monday saw the QSE tumble 4.29%, followed by another 0.67% drop on Tuesday. A rebound came midweek—up 0.75% Wednesday, another 1.04% Thursday—but that still left the index down for the week.
Youssef Buhulaiqa, financial market analyst, told Qatar News Agency the drop in the first session after the bank holiday was all about investor caution. According to him, the market “quickly recovered” and managed to post gains on Wednesday and Thursday, highlighting what he called “remarkable resilience.” Investors, he added, are still relying on Qatar’s economic fundamentals. QNA
The rebound didn’t lift all boats. Reuters reported Qatar National Bank, the region’s largest lender by assets, jumped 3.2% Thursday. On the flip side, Industries Qatar slipped 2.5%, while Qatar Aluminum Manufacturing plunged 7%, capping the benchmark’s move.
“Risk-off sentiment still dominates the Qatari exchange,” said George Pavel, general manager at Naga.com Middle East. Losses aren’t as severe as earlier in the week, but that relief feels shaky. Any chance of a rebound, he added, hinges on how things play out with regional tensions—and whether Qatar continues to face disruption. Reuters
In the Gulf, pressure didn’t let up. Dubai’s benchmark dropped nearly 9% across the week—marking its sharpest slide since almost six years ago. Abu Dhabi shed over 5%. Both UAE bourses held on to their emergency 5% downside caps, still trying to keep price swings in check.
The late-week rebound isn’t locked in yet. Energy Minister Saad al-Kaabi cautioned that Gulf exporters might have to stop shipments in a matter of weeks if fighting keeps up. He flagged a possible spike in oil to $150 a barrel and added that, even with an immediate ceasefire, Qatar’s delivery cycles wouldn’t snap back for “weeks to months.” Reuters
The squeeze has started to hit listed companies. Mesaieed Petrochemical Holding, Qatar Aluminum Manufacturing, Gulf International Services, and Industries Qatar announced plans to either cut back or pause certain operations, following QatarEnergy’s move to stop some chemical, petrochemical, and downstream production, their statements relayed by QNA showed.
