The Qatar Stock Exchange (QSE) closed last week lower, with its index falling 0.69%, or 70.65 points, to settle at 10,211 amid downward pressure from five of its sectors. The transportation sector experienced the steepest decline, dropping 1.79%, while the real estate sector was the only one to post gains, rising 0.28%.

Financial analyst Mubarak al-Tamimi, speaking to Qatar News Agency, explained that the QSE is entering a critical period as companies prepare to release their first-half financial results next week. He noted that the index is currently trading within a technical support range, which might help trigger an upward movement if investor sentiment improves.

According to al-Tamimi, the QSE index fluctuated this week between a weekly support level of 10,227 points and a monthly support level of 9,927 points. He added that if selling pressure persists, particularly from foreign investors in the banking and industrial sectors, the index could test a lower support level near 9,727 points.

The recent selling activity, al-Tamimi said, appears linked to market caution ahead of the earnings announcements. He highlighted that the clarity provided by these results is expected to influence the index’s trajectory and reveal emerging investment opportunities, especially in stocks projected to deliver strong half-year performances or dividend payouts.

Looking ahead, al-Tamimi forecasted that the QSE index could rebound from current support levels and begin an upward trend if it surpasses resistance at 10,340 points. Doing so could set the stage for further gains toward 10,580 points initially, followed by a potential target of 10,710 points.

The analyst emphasized that the forthcoming earnings reports from major companies, especially banks, will be key in shaping market sentiment. Positive financial results, he said, are likely to increase investor confidence and contribute to sustained improvement in QSE performance in the second half of the year.