Financial Market Analyst to QNA: Anticipated Positive Impact of Listed Companies Results on QSE Performance

Doha, July 03 (QNA) - The Qatar Stock Exchange (QSE) index closed this week up by approximately 0.70 percent, adding 74.830 points to its tally, rising to 10,759 points compared to last week's closing.

The insurance sector achieved the highest gains, rising 2.480 percent.

In his remarks to Qatar News Agency (QNA), financial market analyst Youssef Bouhlaiqa expects the results of companies listed on the QSE to have a positive impact on the stock exchange's performance as they are revealed successively over the coming period. He pointed out that the announcement of the financial results for the second quarter of this year by Qatar National Bank (QNB) Group will begin next Wednesday.

Bouhlaiqa added that companies will achieve profit growth rates ranging between 5 and 7 percent, and some companies' shares may exceed these rates. He pointed to the potential that artificial intelligence models now offer for generating insights into stock market trends, which can inform investment decisions.

He pointed out that local investment portfolios are currently on hold, despite the momentum created by some funds, such as the Qatar Investment Authority and Fiera Capital initiative, which launched the USD 200 million Fiera Qatar Equity Fund to invest in shares of listed Qatari companies. This is an important step that will enhance market liquidity and expand the investor base, supporting financial markets and the asset management sector.

On the other hand, Buhaliqa noted the recent dynamism of foreign portfolios, which have expressed interest in purchasing shares in companies listed on the stock exchange, a trend expected to strengthen with the announcement of their earnings in the coming period.

Concluding his weekly review of the QSE's performance, financial markets analyst Youssef Bouhlaiqa noted the cohesion and stability of the stock exchange's general index. (QNA)