(MENAFN- The Peninsula) QNA
Doha, Qatar: The Qatar Stock Exchange (QSE) index concluded the current week with an increase of 0.23 percent, gaining 22.240 points to reach the level of 9,6133 points, supported by the real estate sector, which increased by 6.08 percent and the transport sector by 3.5 percent.
In remarks to Qatar News Agency (QNA), financial market analyst Youssef Bouhlaiqa expected further improvement in the performance of the QSE during the next week, supported by an increase in trading values from approximately more than QR500m per day during the current week to around QR1bn per day.
Bouhlaiqa pointed out that the deal concluded by QatarEnergy and Qatar Gas Transport Company Limited (Nakilat) on Wednesday had a profound impact on the closing session of trading, as the transportation sector index rose supported by the activity of Nakilat shares.
QatarEnergt and Nakilat signed a long-term agreement to charter and operate nine QC-Max class LNG vessels.
Regarding stock performance during the current period, Bouhlaiqa said that company stock prices usually react to news whether rising or falling and since the current period there has been a relative scarcity of corporate news, especially after the completion of the announcement of quarterly data, except those related to Nakilat, the Market movement remains in need of news from listed companies.
In the same context, he added that the stock movement reacts positively to rise when positive news spreads, and before announcing it, the stock price has exhausted its upward movement, or in other words, its star has fallen. Therefore, the price does not react after the announcement compared to its reaction before it.
The financial market analyst expected the possibility that some institutional and speculative stocks would witness movement during the coming period, which would enable the performance of the general index to be enhanced.
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