Financial Analyst to QNA: Distinguished Performance for QSE in December, Investors Eye Listed Companies Data

Doha, January 04 (QNA) - The Qatar Stock Exchange (QSE) index concluded this week's trading down by 1.480 percent, losing 156.310 points to stand at 10,433, under the pressure of five sectors, led by the insurance sector, which witnessed a negative performance of 3.730 percent. In that context, financial analyst Alaa Al Sheikhly told Qatar News Agency (QNA) that QSE's last session for this week was the first positive session since the beginning of 2024, coming after a distinguished performance during December, in which the general index was able to exceed 10,800 points, which represented an important resistance barrier for the market as a result of profit taking operations. The financial analyst pointed out that the QSE had not witnessed corrective operations earlier, as the market rose last December by a rate ranging between 7 - 8 percent. He added that the market was looking for an area where it could catch its breath and carry out profit-taking operations. He indicated that the recent rise in the QSE general index was supported by a general climate linked to traders' expectations regarding a reduction in interest rates by the US Federal Reserve, in addition to the rise in oil prices in global markets as a result of navigation developments in the Red Sea. Al Sheikhly pointed out that the market has entered a period of anticipation for the financial statements of listed companies, stressing the importance of remaining at the levels of 10,400 - 10,500 points to continue the momentum that the market witnessed in the recent period. (QNA)