Failure to cut interest rates, Morgan Stanley’s reviews affect QSE performance: Analyst

Doha, Qatar: The Qatar Stock Exchange (QSE) index wrapped up this week s trading down by 1.45 percent, losing 140.390 points to stand at 9,562 points,...

Doha, Qatar: The Qatar Stock Exchange (QSE) index wrapped up this week’s trading down by 1.45 percent, losing 140.390 points to stand at 9,562 points, under the pressure of various sectors, following two consecutive weeks of gains, under pressure from various sectors.

In this context, financial advisor Ramzi Qasmieh told Qatar News Agency (QNA) that the largest declines during the current week were recorded by the communications sector, which performed negatively by 2.8 percent, the real estate sector by 2 percent, the financial sector by 1.78 percent, and the transportation sector by 1.2 percent.

The financial advisor noted that the transportation sector achieved the largest gains since the beginning of the year, exceeding 18 percent, while the financial sector was the largest affected with the declines recorded during this week, with a loss since the beginning of amounting to 14 percent, followed by the insurance sector, 13.5 percent.

On the other hand, financial advisor Qasimia said that the QSE index ended today’s session - in which it lost 145 points, or 1.5 percent - at its lowest levels since October 2023, under pressure from a number of leading stocks, especially in the banking sector, such as QNB, QIB, and Industries Qatar.

He pointed out that the decline in the QSE index in today’s session is consistent with the declines recorded in the Gulf markets as a result of the expectation that interest rates will not be reduced soon, and also in anticipation of the implementation of the Morgan Stanley index review expected next week, which may witness the adjustment of some weights related to some banks listed on the QSE.