Financial Analyst to QNA: Expectations of Interest Rate Cuts, Q3 Disclosures, and FTSE Russell Review Behind Stock Market's Rise

Doha, September 11 (QNA) - The Qatar Stock Exchange (QSE) index ended this week's trading with a slight decline of 0.05 percent, or 6.09 points, to stand at 11,093 points.

The market's decline was driven by losses in four sectors, led by banks and financial services down by 1.21 percent, transportation by 0.89 percent, consumer goods and services by 0.36 percent, and real estate by 0.10 percent. Meanwhile, three sectors recorded gains, led by the telecommunications sector up by 3.06 percent, and the industry, and insurance sectors rose by 1.51 percent and 0.84 percent, respectively.

Regarding the stock market's performance this week, financial analyst Tamer Hassan told Qatar News Agency (QNA) that the general index of the stock market witnessed a state of stability this week, maintaining levels above 11,000 points, indicating that the stock market experiences a state of calm in September and October of each year, with the index moving sideways and tending toward a decline as investors continue to build their financial positions and await companies' third-quarter results.

Hassan highlighted that expectations predict a market rally next week, supported by the likelihood of the US Federal Reserve cutting interest rates, with trends indicating a 25-basis point cut. He also highlighted companies' announcements of the dates for disclosing their financial statements for the third quarter of this year, as well as the implementation of the review of the FTSE Russell Emerging Markets Index, which will take effect after the close of trading on Sep. 18 for the Qatari market.

He explained that, according to the review, companies included in the FTSE indices are Investment Holding, which has been included in the mid-cap index, while Aamal, Al Mahhar Holding, and Doha Insurance Group have been included in the smaller-cap index.

QSE's weekly report revealed that stock trading reached approximately QR 1.615 billion, through the sale of 538.139 million shares, in 98,865 transactions. (QNA)