The Qatar Stock Exchange (QSE) index ended the week's trading down 3.01 %, losing 285.44 points to close at 9,192 points compared with the previous week, amid pressure from six sectors. The telecommunications sector recorded the largest decline, falling 4.67 %, while the insurance sector gained 0.17 %.
Financial analyst Mubarak al-Tamimi said the QSE witnessed selling pressure during the week that pushed the index below the support level of 9,532 points, a technical development reflecting the continuation of the downward trend seen in recent trading.
He said the index is currently testing other support levels around 9,079 points, noting that a continuation of the downward trend could push the market to test lower levels, potentially reaching around 8,770 points, if selling pressure persists and no new catalysts emerge to support the index.
Al-Tamimi added that trading during the week showed signs of oversold conditions, which could pave the way for buying activity and a gradual recovery in some stocks, particularly if liquidity levels improve and signs emerge of investors returning to the market.
He noted that liquidity remains one of the main factors that will determine the market's direction in the coming period, expressing hope that trading will see improved liquidity to support the index's stability and strengthen prospects for a recovery in stocks.
He said the market is currently in a wait-and-see phase as the third-quarter financial results season approaches, which will be among the key catalysts that could determine trading trends in the coming period. He explained that if results are in line with expectations, they could help improve investor sentiment and strengthen confidence in the market.
Regarding investment, the financial analyst said current price levels could provide opportunities for investors with a long-term perspective, while stressing the need to focus on companies with strong financial fundamentals and stable operating results and to avoid making short-term investment decisions based solely on index movements.
He stressed that the current phase requires greater caution and close monitoring, particularly amid continued volatility and while the market awaits new catalysts, with attention focused on key support levels, liquidity movements and companies' third-quarter results as factors likely to influence the market's direction.
