‘QSE to face expected selling pressure, buying opportunities’
<p>DOHA: The Qatar Stock Exchange (QSE) Index closed this week down 3.38 percent, losing 338.27 points to reach 9,682 points compared with last week’s close.</p> <p>The decline was driven by negative performances across all sectors, led by the telecommunications sector, which fell by around 4.61 percent, followed by the consumer goods and services sector, down 3.78 percent, and the industrial…
The Qatar Stock Exchange (QSE) Index experienced a decline of 3.38 percent this week, dropping 338.27 points to settle at 9,682 points. The downturn affected all sectors, with the telecommunications sector leading the fall by 4.61 percent, followed by consumer goods and services at 3.78 percent, and industrial sector down 3.56 percent.
Financial analyst Mubarak Al Tamimi commented on the QSE's weekly performance, attributing the decline to selling pressure, regional geopolitical tensions, and the lack of catalysts related to semiannual dividend distributions. He described the situation as a "strong correction," driven by external factors and pressure on leading stocks, particularly those in the banking sector.
Al Tamimi noted that the current conditions do not indicate a long-term downward trend, with the 9,528-point level serving as an important technical support level. He pointed out that the index had lost key levels at 10,205 and 10,100 points, increasing caution among investors. Looking forward, Al Tamimi expects a potential further decline towards the 9,528-point level, which could attract liquidity and lead to gradual purchases by market makers and investors at lower prices.
He highlighted potential positive opportunities for medium-and long-term investors at support levels, especially in leading stocks with robust fundamentals.
Written by urgent.news from The Peninsula Qatar Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
