Doha, October 27 (QNA) – The Qatari stock index lost 394.82 points, or 3.12 percent this week to close at 12262 points.
Financial analyst Tamer Hassan said this week’s declines were unjustified in light of the economic strength, reflected in 4.5% GDP growth in the first half of the year, as well as the positive impact hosting the World Cup is expected to have on various economic activities.
He told Qatar News Agency (QNA) that the majority of earnings that came out so far support the index, with incomes rising 18.96 percent. He also said that anticipation of the US Federal Reserve interest rate decision on Nov. 2 should not be a driver of declines that occurred this week at the Qatari stock market.
He added that revisions from the MSCI Emerging Market Index and FTSE will enhance liquidity and rebalance the weighting of the listed companies.
(QNA)