Tamer Hassan, a financial analyst, expected that the performance of the Qatar Stock Exchange would be more positive after the blessed Eid Al-Fitr holiday, supported by the results of the listed companies, which showed more profits than expected so far.
Hassan said, in statements to Qatar News Agency (QNA), that about 40 percent of the listed companies will disclose their financial statements before Eid, and 60 percent will be immediately after it, noting that all evidence indicates a better performance than that achieved in the same period of the year. The past, which coincided with Qatar’s staging of the 2022 FIFA World Cup Qatar.
During the current week, the Qatar Stock Exchange index witnessed a decline of 2,440 percent, compared to the end of last week’s trading, to lose its balance of 252,420 points, and to fall to the level of 10,090 points, under pressure from the services and consumer goods sectors, banks and financial services.
The financial analyst explained to QNA that the results of companies and the solidity of the economy do not at all reflect the declines in the market, especially since a number of external factors affecting the financial markets have been exceeded, such as the banking crisis in the United States and some European countries, in addition to the trend Towards stability in raising interest rates by the US Federal Reserve.
And Tamer Hassan considered that what is reassuring in the Qatar Stock Exchange at the present time is that everyone holds their shares, and that the trading volumes are the result of individual speculations.
The weekly report of the Qatar Stock Exchange revealed a decline in the market value at the end of the week’s trading to 587.674 billion riyals, compared to its level last week, which amounted to 601.473 billion riyals, while the value of stock trading was about 1.904 billion riyals, through the sale of 688.351 million shares, as a result of the implementation of 68,842 deals. in all sectors.
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