Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded this week’s trading up by 2.450 percent, gaining 244.250 points to stand at 10221, compared to last week’s trading, supported by the performance of the real estate sector which rose by 4.630 percent and the industrial sector which rose by 2.90 percent.
Financial market analyst Youssef Bouhlaika, who spoke to Qatar News Agency (QNA), expects that the positive performance of the QSE index would continue during the coming period, supported by several factors that he described as objective, including the approaching end of the year, which coincides with the announcement of the annual results of listed companies.
Other factors include the inflation data in the United States of America, which stabilized at 4 percent, coupled with an unlikeliness that the Federal Reserve (US central bank) would raise interest rates again during the current year, he said.
Bouhlaika pointed out that the stability of consumer prices in the USA last October compared to the previous month will enhance observers’ expectations of the Federal Reserve not raising interest rates, thus reducing economic activity and affecting demand for crude oil.
This indicates a continued positive impact on the performance of financial markets in the region, including the Qatari market.
He also highlighted the positive outcomes of the International Energy Agency’s (IEA) report on the activity of industrial sector companies listed on the QSE. For 2024, the IEA raised its oil demand growth forecast to 930,000 bpd from 880,000 bpd, and expected world demand to rise by 2.4 million barrels per day (bpd), up from 2.3 million bpd.
