Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded May’s last week with a decrease of 2.54 percent, losing 243.040 points to reach the level of 9,319 points, under pressure from six sectors.
QSE data showed that the consumer goods and services sector recorded the largest weekly loss of 5.940 percent, while the insurance sector achieved the largest gains of 0.34 percent.
In this context, financial market analyst Youssef Bouhlaiqa attributed the decline in the QSE index to anticipation of the US Federal Reserve’s decision regarding raising the interest rate, as well as the geopolitical tensions taking place in the region, in addition to the state of anticipation that characterized the performance of investors during the last period, awaiting the announcement of semi-annual results of listed companies.
In remarks to Qatar News Agency (QNA), Bouhlaiqa pointed out the possibility of pumping additional liquidity by local funds during the coming period, especially since stock prices are considered attractive for purchase in light of the declines recorded over the past few weeks.
Bouhlaiqa expected that the results of listed companies in the first half of 2024 would be positive, which would help attract local and foreign portfolios, noting that the average trading this week reached around QR624m.
This weekend’s session witnessed the implementation of the results of the review of the Morgan Stanley MSCI index, which included the entry of Meeza Company into the small-capitalization companies index and the removal of Medicare Group from the same index.
