Baku:The Qatar Stock Exchange (QSE) index concluded the week with a 2.17 percent drop, losing 195.44 points to settle at 8,810 points. This marks the fifth consecutive weekly loss, impacting all sectors.

According to Qatar News Agency, financial analyst Mubarak Al Tamimi highlighted that the QSE has been under significant selling pressure, reflecting downturns in both global and regional financial markets. The pressure has been intensified by ongoing geopolitical tensions, resulting in cautious investor sentiment.

Al Tamimi noted that the QSE’s general index is nearing critical support levels, specifically the 8,764-point mark. A breach of this level could lead to a further decline towards 8,664 points if the selling trend continues. The index’s future trajectory will depend on its ability to maintain these support levels, geopolitical developments, and global market trends.

He also mentioned potential technical zones between 7,997 and 8,704 points should the decline persist, which may attract investors if market stabilization occurs. However, these levels do not confirm a definitive sideways trend.

Looking ahead, Al Tamimi anticipates the correction phase will likely persist, with geopolitical developments and global market volatility influencing the index’s direction. He emphasized the importance of focusing on support and resistance levels and the performance of bellwether stocks in navigating the current market environment.

Al Tamimi concluded by stressing the need for caution and selectivity in investment opportunities, noting that any recovery in momentum will hinge on the index’s stability, a return of buying liquidity, and a reduction in geopolitical tensions. Should external pressures continue and key support levels be breached, the correction phase might extend further.