Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded this week’s trading down by 1.64 percent, losing 169.97 points to stand at 10,194.74, compared to last week’s trading, under the pressure of implementing the Morgan Stanley review MSCI emerging markets index performance, in addition to the collective decline in the sectors in the market.
Financial analyst Mubarak Al Tamimi told Qatar News Agency (QNA) that the decline in the QSE index during the last session of this week and August was due to activating the Morgan Stanley review, which included the exit of some companies and the adjustment of the weights of other companies. He indicated that the index’s performance was good during the past few days, however, implementing the the Morgan Stanley review on Thursday led to a decline in the index by 155.38 points, which pushed the market to record a decline.
He pointed out that the general index, from a technical point of view, is expected to test the levels of 10,000 points, which represents significant psychological support - and if broken - the index will reach the level of 9,800 points. He stressed the contribution of the “Meeza” company, the newcomer to the Stock Exchange, in creating activity in the market, which witnessed a record high during the first days of listing, which was reflected in the performance of the index, as its share surged 16 percent during the first two trading sessions.
The current week saw an improvement in liquidity levels, as the value of trading increased during this week to QR2.836bn compared to last week’s level, which amounted to QR1.960bn, an increase of about QR876m. The average trading during the past week was around QR567.2m per session.
Trading volumes during the current week recorded 1,045,742,608 shares valued at QR2,835,601,404.011, as a result of implementing 88,561 transactions in all sectors.
The QSE has recently taken a package of measures and procedures to activate the market, as it announced the start of practicing the activity of covered short selling and the activity of securities lending and borrowing, which are tools that are complementary to the rest of the activities in the market, as well as important for investors to benefit from in their funds and investment portfolios.
