Youssef Bouhlaika, a financial market analyst, called on investors to hold on to their shares at the present time, not to sell, and to overcome the state of confusion that the market is currently going through, resulting from a number of internal and external factors, which led to the general index breaking the threshold of 10,000 points during the current week.
The current week of March witnessed a decline in the general index of the Qatar Stock Exchange to below 10,000 points, to drop to the level of 9,910 points, and to lose 826,510 points, compared to the end of last week’s trading by 7.7 percent.
Bu Hulaika said in a statement to Qatar News Agency (QNA) that the decline in the general index of the Qatar Stock Exchange during the current period is due to the synchronization of the distributions of 6 companies listed at the same time, which led to large sales by investors looking for profits and exit from the shares of companies. Orientation towards less risky investment channels, such as banks, and the expected return on deposits.
The financial market analyst stressed that the external repercussions weighed on the performance of the Qatar Stock Exchange, especially with the decline in the shares of the Swiss Credit Suisse Bank and the losses it caused to shareholders, in addition to the repercussions of the bankruptcy of the American Silicon Valley Bank on global markets, regional markets, and the decline in prices. Oil in global markets is below $75.
Youssef Buhulaika expected the beginning of a movement for the Qatar Stock Exchange with the start of announcing the results of the listed companies in the middle of next month, which are likely to be positive, and thus provide the appropriate framework, i.e. the results, to attract investors to the Qatar Stock Exchange.
The weekly report of the Qatar Stock Exchange revealed a decline in the market value at the end of the week’s trading, to 571.122 billion riyals, compared to its level last week, which amounted to 618.289 billion riyals, while the value of stock trading was about 2.409 billion riyals, through the sale of 713.326 million shares, as a result of the implementation of 73,354 deals in all sectors.
