Doha: During the first week of July, Qatar Stock Exchange (QSE) index maintained its consistency, above 12,000 points, despite its decline to the level of 12,084 points compared to trading last week, to lose 106.6 points or 0.870 percent.
In this context, the financial analyst Ramzi Qasmieh, confirmed to Qatar News Agency (QNA) that the situation of Qatar Stock Exchange in the current period is characterized by anticipation, pointing out that there is a shortage in liquidity as a result of a number of factors, including the investor’s patience for the period after Eid Al-Adha and the situation waiting for the decision of the US Federal Reserve (the US central bank) related to the interest rate expected on July 27.
He said that Qatar Stock Exchange index was able over the past period to maintain its cohesion, and stay above the level of 12 thousand points, considering that “it is important for the index to remain at the levels of the support point.”
The weekly report of Qatar Stock Exchange also indicated that the market value increased by the end of the week’s trading to reach QR672.056bn, compared to its level last week of QR684.020bn, recording a decline of 1.75 percent.
In his statement to QNA, the financial analyst pointed out that the decline in the index in the current week of July is due to the decline in the industrial sector, especially Industries Qatar and Qamco, which were affected by the drop in oil prices in global markets, adding that the decision of the Council of Ministers regarding opening the capital of Qatari companies to 100% ownership, is still resonating in the market, as it recorded, for example, that the share of QIIB rose as a result of being affected by this decision.
The weekly report indicated that the value of stock trading, during the week that ended its trading today, amounted to QR1.705bn, through the sale of 517.906 million shares, which were executed following the conclusion of 61065 deals.
The weekly performance of the banking sector was also marked by variation, while the transportation sector recorded the best performance since the beginning of the year compared to the rest of the sectors, especially the performance of Milaha and Nakilat.
