Doha: The Qatar Stock Exchange (QSE) index closed the last trading session of the week down 1.12 percent, falling below the 11,000-point mark to settle at 10,957 points.

This ended the week down 0.92 percent, halting a three-week winning streak during which it had risen by approximately 1.9 percent.

In this context, Investment Manager at Qatar Securities Company (QS) Ramzi Qasmieh told Qatar News Agency (QNA) that the behavior of foreign portfolios has become the primary factor determining the market's direction.

He explained that the implementation of the Morgan Stanley (MSCI) index review results on Nov. 24 will be pivotal in determining whether or not the overall index's performance improves.

He added that QSE ended the week with a noticeable decline, affected by profit-taking and selling pressure on leading stocks in the banking and telecommunications sectors, amidst a decrease in liquidity levels.

The closing session saw selling pressure on QNB, Masraf Al Rayan, and Doha Bank shares, which were the biggest drivers of the index's decline. In contrast, Nakilat shares attracted investor attention with trading exceeding 10 million shares, reflecting active trading ahead of global index reviews.

Regarding weekly stock performance, Qasmieh noted that QLM shares topped the list of gainers with a 4.17 percent increase, driven by purchases from foreign portfolios. Vodafone Qatar shares came in second with a rise of approximately 4.13 percent. Conversely, Widam shares were the biggest losers falling 6.9 percent, followed by Qatar Cinema with a decline of around 6 percent.

The Investment Manager at QS pointed out that liquidity volumes decreased by 4.46 percent during the week, reaching approximately QR1.603bn, indicating traders' caution and their anticipation of the impact of the periodic review of the Morgan Stanley index.

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