Doha: Qatar Stock Exchange (QSE) index broke the 12,000-point resistance this week, closing at 12,017.56 points, an increase of 150.320 points, and a growth of 1.270 percent compared to last week.
Commenting on this performance, Financial analyst Tamer Hassan predicted in his statement to Qatar News Agency (QNA) that QSE’s performance during December 2022 would be better than the previous one, especially in light of the eminent announcement of the results of the listed companies and the expected movement by investors towards the end of 2022 through injecting more liquidity in the market.
He pointed out that the rise in trading values during the current week was driven by the book closure transactions which means the book value or the accounting value, the value of the company according to its books or its financial statement, implying that all the companys obligations are deducted from the total value of the companys net assets.
In his statement to QNA, the financial analyst described the month of November as the most difficult one, not only for QSE, but for various global stock exchanges, as it reduced the gains they made in 2022, indicating that the expected announcements regarding interest rates by the US Federal Reserve Board (FRB) will not have a major impact on markets, because of the adaptation to the policies and the projections to ease the tightening policies of FRB.
He stressed that the various technical fundamentals of QSE are positive making it more attractive to the investors, especially that the prices of the listed companies remain at the accepted levels, adding that December will be the month of reaping the profits.
