QSE waiting for clear catalysts to regain upward momentum

The Qatar Stock Exchange (QSE) index concluded the week with a 2.26% decrease, dropping 199.070 points from the prior week's closing figure and concluding at 8,611 points. The market's downturn was fueled by six sectors, with the telecommunications sector experiencing the highest gains, up by 1.91%, while the transportation sector suffered the most significant declines, slipping by around 3.91%.

Youssef Bouhaliqa, a financial markets analyst for Qatar News Agency (QNA), shared with reporters that the QSE index is presently in the 8,600-point range, a pivotal point in assessing its potential to stabilize. Bouhaliqa highlighted that the 8,760-8,810-point range could serve as an initial resistance level the market might face if the recovery persists and liquidity improves.

He explained that if the market reaches these resistance levels and maintains them, it could provide support for further upward corrective movements. Conversely, if the market falls below these levels, it would expose the market to further downward pressure.

Bouhaliqa emphasized that confirming a new trend requires monitoring daily closing prices, trading volumes, and the breadth of participation across listed stocks during any rally. He added that the index's performance this week indicates the market still requires clear catalysts to regain upward momentum, such as enhanced liquidity, positive financial results from listed companies, or reduced uncertainty in the markets.

Bouhaliqa concluded that given these conditions, the upcoming QSE sessions will be critical in determining whether the recent rebound signifies the start of a gradual recovery or merely a temporary move within a larger corrective trend.