Doha:The Qatar Stock Exchange (QSE) index concluded the current week with a 6.27 percent gain, putting an end to a streak of weekly declines observed over the previous period. The index added 540.08 points, reaching the 9,151-point level, bolstered by gains across all sectors. Notably, the transportation sector recorded the largest increase at 7.04 percent, followed by the banking and financial services sector with a 6.63 percent rise.
According to Qatar News Agency, financial analyst Mubarak Al Tamimi stated that the QSE saw the general index move sideways this week, within a resistance range of 9,165 to 9,300 points. This movement was accompanied by a resurgence in buying momentum and increased liquidity levels, spurred by developments in the region's geopolitical landscape and intensified mediation efforts, which helped bolster investor sentiment.
Al Tamimi explained that the general index managed to rebound from its lows, reaching 9,151 points due to an improved appetite for risk and a return of liquidity to the market. This was driven by the emergence of investment and speculative opportunities in several stocks, which had fallen to attractive price levels.
He further noted that the market's movements throughout the week reflect efforts to restore balance and establish a new price base following recent pressures on stocks. Sustained buying momentum and the inflow of liquidity are seen as key factors supporting the index in upcoming sessions.
Al Tamimi highlighted that the general index is currently facing resistance levels between 9,165 and 9,300 points. Surpassing this zone and stabilizing above it could enhance prospects for a continued upward trend. He also mentioned that breaking through the 9,532-point level represents a significant technical milestone, potentially paving the way for the index to test the 9,820-point level, provided liquidity continues to flow.
Conversely, Al Tamimi emphasized that failure to surpass resistance levels could result in continued trading within a sideways range, with fluctuations between buying and selling forces. Monitoring trading volumes and liquidity is essential to determine the market's short-term direction.
The financial analyst pointed out that the Qatari market benefited from an influx of liquidity from the Gulf and abroad, coinciding with a decline in the prices of several stocks to attractive levels. This situation created opportunities for speculation and bargain-hunting among investors seeking quick gains. Improved sentiment also contributed to boosted trading activity and strengthened demand for stocks.
Al Tamimi indicated that the relative improvement in the region's geopolitical climate, along with intensified mediation efforts, positively impacted investor sentiment, as financial market performance is closely tied to the clarity surrounding regional risks.
Source Qatar News Agency
