Qatar: QSE index maintains cohesion and anticipation for Morgan Stanley’s reviews

Qatar: QSE index maintains cohesion and anticipation for Morgan Stanley’s reviews

Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded this week’s trading down by 0.59 percent, losing 63.35 points to stand at 10,735 under the pressure of various sectors, as the communication sector fell by 2.05 percent and the real estate sector by 1.940 percent, despite that, the index maintained its cohesion at the indicated support point.

In this context, financial market analyst Youssef Bouhlaika stressed that QSE is witnessing profit-taking operations that explain the weekly decline in the index, especially since the last period witnessed increases that enabled it to dispel the losses it recorded since the beginning of this year, pointing to the index’s consistency at point 10,735.

In remarks to Qatar News Agency (QNA), the financial market analyst said that the QSE index continued its cohesion during the current week, benefiting from the liquidity pumped by Gulf portfolios into the market that supported purchases, as the average trading value approached QR352m.

Bouhlaika expected that the QSE index would maintain the annual gains in the coming period and absorb the declines recorded in the profits of some leading companies such as Industries Qatar, saying that the market is expected to achieve a major recovery with the progress in disclosing the results