Financial Analyst to QNA: QSE Performance Rebounded Supported by Nakilat Deal, Companies' Anticipated Results

Doha, January 11 (QNA) - The Qatar Stock Exchange (QSE) index concluded this week's trading up by 0.31 percent, gaining 31.890 points to stand at 10,465, supported by the performance of three sectors. In his remarks to Qatar News Agency (QNA), financial market analyst Youssef Bouhlaika noted the movement brought about by the deal concluded by Nakilat with the Korean Hyundai on the performance of the transportation sector in particular and the stock market in general. In this context, he explained that the current week saw an increase in the transportation sector index, which increased by 6.020 percent, supported by the performance of Nakilat shares after the company announced its contract to build 6 new tankers, as well as the performance of Milaha. The banking shares were absent from the list of stocks that rose the most or influenced the performance of the index otherwise, while Ooredoo, Kahramaa, and Industries stocks gave support to the index. The financial market analyst expected that the Qatari stock market indices would move in a horizontal range inclined to the upside during next week's trading between the levels of 235 points and 250 points, supported by the momentum present in the indices, in addition to anticipating some companies' business results to close in the green zone. Bouhlaika said that stock market transactions during this period will be affected by a number of positive factors, including the likelihood of the end of the monetary tightening cycle by central banks in light of expectations that indicate a continuous decline in inflation rates, declining from 8.7 percent during 2022 to 6.9 percent during, and 5.8 percent by the end of 2024. (QNA)