Qatar: QSE index expected to keep rising in coming period

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Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded this week’s trading up by 0.810 percent, gaining 79.570 points to stand at 9,927, supported by the performance of three sectors.

In remarks to Qatar News Agency (QNA), Financial market analyst Youssef Bouhlaika pointed out that the performance of the QSE general index is subject to a number of elements that would determine its direction in the coming period. He expected that the index would keep rising following the increases it achieved over the current week, especially in light of the US Federal Reserve’s continued fixation on the level of interest rate, the decision that the Qatar Central Bank also takes.

The financial market analyst pointed out that the stability of oil prices above USD 80 per barrel in 2024 would undoubtedly have an impact on the performance of the industrial sector companies listed on the QSE and thus on the performance of the general index.

Bouhlaika said that investors’ eyes are directed toward the results of listed companies in 2023 and the accompanying distribution of profits, which will begin to be announced in the first quarter of 2024.

He added that the revisions to the FTSE indicator pushed the liquidity level to about QR1.176 billion in today’s session, which gave momentum to transactions and contributed to raising the stock market’s performance in its last session of the current week.

Returning to the weekly performance of the QSE index, Bouhlaika noted that the industrial sector topped the list of gains with an increase of 1.940 percent, followed by the transportation sector with an increase of 1.360 percent.

On the other hand, the financial market analyst noted that the largest losses were recorded by the services and consumer goods sector, at a rate of 1.45 percent, while the financial index with the largest weight or most influence in the main index of the QSE closed with a decline of 0.27 percent.