The Qatar Stock Exchange ended its trading during the current week with an increase of 0.62 percent, adding 60.35 points to its balance, and its general index rose to the level of 9824 points compared to the close of the last trading sessions of last week.
The index benefited from the performance of five sectors, led by the industrial sector, which achieved the highest gains, with an increase of 1.76 percent, while the transportation sector recorded the largest losses, with 0.85 percent.
Regarding this performance, Mr. Youssef Bu Haliqa, a financial markets analyst, said in exclusive statements to Qatar News Agency (QNA) that investors are reevaluating their investment positions before the results season, especially since the third quarter results will provide an important indicator of the companies’ ability to maintain profitable levels in light of the rise in financing costs and the slowdown of some activities, considering that the movement in the stock market is still under continuing pressures related to global interest rates and the repercussions of geopolitical events in the region in conjunction with the anticipation of the business results of listed companies for the third quarter.
He stated that the selling operations that the market witnessed during the last period may open the way for attractive investment opportunities for new investors and those with a long-term outlook, stressing that what is happening represents a natural station of anxiety related to interest cycles and not a fundamental shift in the general direction of the market.
Bu Hulaiga also highlighted to QNA that the strength of the Qatari economy and continued spending on strategic projects, in addition to the strength of the financial positions of many listed companies, are factors that support the chances of recovery during the third quarter of the year, especially if the financial results are in line with investors’ expectations or better than them, pointing out that the industrial sectors, banks and financial services remained the main drivers of the market in light of the sensitivity of stocks to the path of interest rates and the cost of financing, while the rest of the sectors showed a clear variation in performance.
