Doha, December 29 (QNA) – The general index of Qatar Stock Exchange ended the last trading sessions for the current year at the level of 10681.07 points, to decline in the last session at the end of the year by 114.60 points, or by 1.06 percent, to end the year with a decline of about 8.13 percent.
Ramzi Qasmieh, Analyst and Financial Expert, said in a statement to Qatar News Agency (QNA) that the performance of the general index of the stock exchange was characterized by fluctuations during the current year, as it started the year rising in January, achieving gains of 7.5 percent, but it ended the year with the weakest performance it recorded in December, by 10.4 percent.
He pointed out that the current year is the year of major fluctuations in the financial markets in general, and not just the Qatar Stock Exchange.
He added that the interaction of the stock exchanges with the rise in energy prices, which reached its highest level at USD 128 a barrel last March, as a result of the outbreak of the Russian-Ukrainian war, in addition to the benefit of Qatar Stock Exchange from increasing the classification of some companies in the MSCI and FTSE indexes reflected positively on its performance. This led to the general index reaching its highest level, touching 14,931 points, on April 11. However, the series of continuous interest hikes put pressure on the market as a result of the increased attractiveness of deposits compared to stock returns. This affected the stock exchanges and limited their rise, to end the year at lowest level of 10,681.07 points in today’s session.
In terms of trading, the financial analyst indicated that last March was the most active in trading, when it amounted to about QR 23.8 billion, while the lowest trading was recorded in this December at about QR 7.3 billion, indicating that it is at the level of the entire year 2022, and despite the decrease in trading in December, the total trading increased by about 42 percent compared to the year 2021. The weekly report of the Qatar Stock Exchange revealed a decline in the market value at the end of the weeks trading, to reach QR 608.215 billion compared to its level last week, which amounted to QR 622.959 billion, while the value of stock trading recorded about QR 1.244 billion through the sale of 357,028,797 shares, as a result of the implementation of 42,436 transactions in all sectors.
On the other hand, investors and dealers in the stock exchange are optimistically awaiting the disclosure dates and annual results of the companies that will be launched by Qatar National Bank on Jan. 11, while Ahlibank will announce its results on Jan.16. (QNA)
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