External factors affect QSE performance: Analyst
The Qatar Stock Exchange (QSE) index lost 216.9 points at the end of the session of the second week of this month, falling to the level of 11.867 points, thus losing 1.79% compared to the performance of the week. last.
In this context, the financial analyst, Tamer Hassan, said that the Qatar Stock Exchange index this week is under the influence of external factors, underlining the importance of the cohesion of the index at levels of 11,700 points. , which is a pivot point for overall performance. of the index and in the event of a break, it will lead the index in unexpected directions.
In a statement to the Qatar News Agency, Hassan pointed out that trading on the stock market completely ignores the internal stimuli of the national economy, resulting in high growth rates estimated at 4.9% over the past year. the current year, in addition to the good results. listed companies, which should be higher than those recorded in the same period last year. The Qatar Stock Exchange’s weekly report also indicated a drop in market value at the end of the trading week to reach QR 660.056 billion, from its level of QR 672.056 billion last week, registering a decline. 1.78%.
The report explains that external factors are casting a shadow over trading on the Qatar Stock Exchange, including rising interest rates and the direction of the US Federal Reserve to raise them at its next meeting on July 27, in addition to high inflation. rates that predict the US economy entering a period of recession.
The report indicates that the value of stock trades, during the week ending yesterday, amounted to QR 939.667 million, thanks to the sale of 261.041 million shares, which were executed after the conclusion of 38,236 transactions.
Hassan indicated that this week saw a decline in three main sectors, namely the banking sector, due to the large allocations made by Qatar National Bank on its half-profits, which impacted the performance of the sector in general. . The industrial sector and its main companies have also been affected by the declines recorded in oil prices in the world markets, which are expected to fall to the level of $70 per barrel in the period ahead, especially with the recession hitting the major economies. world, and the real estate sector. The Qatar Stock Exchange (QSE) index lost 15.47 points, or 0.13%, to close the session at 11,867.75 points yesterday.
The volume of shares traded decreased to 120,916,110 from 140,125,817 on Wednesday and the value of shares decreased to 384,365,473.840 QR from 555,302,017.953 QR on Wednesday.
The indices six sectors finished in the red zone and one sector finished in the green zone today. The QSE Total Return Index fell 0.13% to 24,309.01, the QSE Al Rayan Islamic Index was down 0.53% to 4,951.39 points and the QSE All Share Index was down 0.02% to 3,803.19 points.