The Qatar Stock Exchange (QSE) Index fell 272 points at the close of the fourth week of August to a level of 13,746 points, down 1.94% compared to last week’s performance.
Speaking to the Qatar News Agency (QNA), financial analyst Walid Al Fuqaha explained the QSE’s performance this week that the index had two periods. He said the recent session gains were achieved because of the optimism related to global markets, especially oil prices, and the rise in the value of futures contracts on the heels of statements by officials in the sector. We attribute it to OPEC’s willingness to cut production.
He said the rise seen in this week’s index was driven by confidence that oil prices would remain high in the coming period and the implications of improving the performance of companies operating in the sector. showed leadership. He argued that investors around the world, including those in the QSE, would join forces with the global central bank meeting in Jackson Hole to raise interest rates without hurting the economy and discuss the recession and its impact on stock performance. He pointed out that he was paying attention to the discussion about avoidance.
In his analysis, al-Fukaha points to the expected speech of US Federal Reserve Chairman Jerome Powell, and given that it will shape the direction of monetary and fiscal policy going forward, these We consider it the most awaited moment in a meeting. Therefore, its impact directly affects the stock exchange.
The QSE weekly report pointed to a drop in the stock market value at the close of the week reaching QR764.685bn, down 3.69% compared to last week’s level of QR781.054bn. The value of the stock deal this week reached QR 2.964 billion, according to the report, with the sale of 840.707 million shares of his shares executed with 81,407 deals closed.
Financial analysts expect the QSE index to cross the 15,000-point barrier next month, especially after hitting a historic level of 14,500 points in the previous period. , a host of macroeconomic factors, high growth rates, the start of the countdown to the events of the 2022 FIFA World Cup Qatar 2022, and supporting three major stocks: Industries Qatar, Qatar National Bank (QNA) and Qatar Islamic Bank (QIB) , accounting for 55% of the pointers.
