In his weekly reading of the performance of the Qatar Stock Exchange, the financial analyst, Mr. Yousef Bu Haliqa, expected that the market’s performance during the coming period will remain dependent on developments in the geopolitical scene, in addition to the results of companies, but the continued strong financial performance of leading companies may contribute to gradually restoring investor confidence and supporting the index to return to the upward path once external pressures subside.
Bu Haliqa said in exclusive statements to Qatar News Agency (QNA) that the Qatari market still maintains basic support factors that enhance its ability to overcome the current fluctuations despite the continued state of caution that dominates the regional financial markets. The semi-annual financial results of the companies that announced their results, led by Qatar National Bank Group and Dukhan Bank, were positive, which reflects the strength of the banking sector, even if these results have not yet succeeded in pushing the general index beyond the level of 10,300 points.
The financial markets analyst attributed the recent declines witnessed in the general index of the Qatar Stock Exchange, which exceeded 120 points, primarily to external factors rather than their connection to the fundamentals of the local economy, which may open the way for selective investment opportunities in leading stocks as the state of uncertainty recedes.
Bu Haliqa stressed that, despite the challenges, the Qatari market has a number of components that support its performance in the medium term, most notably the strength of the financial positions of listed companies, the continued distribution of good profits, and the high levels of liquidity in the banking sector, in addition to the strength of the Qatari economy and continued spending on development projects.
