By: Mahmoud Gamal
Doha – Mubasher: The Qatari Exchange (QSE) would see high speculations during the week and the main index is likely to reach standard levels, approaching the season of announcing annual results, according to analyst.
QSE saw a rise at the end of last week, with a decline in total trading and its daily average which reached QAR 260 million.
The market was positively affected by the possible merger of Masraf al Rayan, Barwa Bank and International Bank of Qatar in the last three sessions, Hashem Al Aqeel, CEO of Investment House, told Mubasher.
The merging news raised the average trading to QAR 326,000 points again. Moreover, the main index stood above 10,000 points again, Al Aqeel added saying that keeping this level of advancing is still related to global oil prices.
Al Aqeel noted that last week saw an interest rate hike from the Qatari central bank and 2017 budget announcement which affected the liquidity.
Investment House CEO advised traders to be patient and cautious in making decisions after studying the companies' profits achieved in the nine-month period and comparing it year-on-year.
Moreover, technical analyst, Mahmoud Abo Al Yazed, told Mubasher that QSE still needs more liquidity to surpass the next resistance at 10,500 points.
Translated by: Sara Ghali
