Financial Analyst to QNA: QSE Current Performance Provides Opportunity for New Positions at Low Prices

Doha, – The Qatar Stock Exchange (QSE) index concluded this week’s trading up by 4.22 percent, gaining 393.170 points to stand at 9,712 points compared to last week’s trading under pressure from various sectors of the QSE.

Financial analyst Youssef Bouhlaiqa told Qatar News Agency that the QSE’s overall performance will increase during the coming period due to a number of factors, the most notable of which is the consistency of investors expectations with the decision of the US Federal Reserve and the Qatar Central Bank to fix the interest rate.

He also expected an increase in the rate of transactions in the fourth quarter of this year, as it is an opportunity to build new centers at low prices for all sectors, especially in the banking, financial services and industrial sectors.

The financial analyst noted that investors overcame the decline recorded by listed companies at the end of the third quarter, as the net profits of many companies exceeded traders expectations.

QSE announced earlier this week that the profits of listed companies during the first nine months of the year decreased by 7.69 percent to QR 37.42 billion, compared to QR 40.54 billion in the same period in 2022.

The banking and financial services sector, which consists of 13 stocks, captured about 58.61 percent of the total profits of companies listed on the QSE during the first nine months of 2023, which amounted to 51 companies on the main market.

Data from the QSE showed that the industrial sector, which includes 10 companies, came in second place at 18.72 percent of the profits of the listed companies, followed by the communications sector, which consists of only two companies, Ooredoo and Vodafone, at 8.17 percent of the profits.

The transportation sector, which consists of only 3 companies, came fourth at 5.95 percent of the profits, followed by the real estate sector, which includes only 4 companies, at 3.34 percent of the profits.

Source: Qatar News Agency

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