QSE seen in corrective phase to set up new buying positions

13/11/2026 07:33 AST

The Qatar Stock Exchange index ended the current week's trading with a decline of 0.370 %, losing 37.47 points to reach the 10,028-point level, under pressure from three sectors.

In this context, financial analyst Mubarak al-Tamimi told Qatar News Agency that the QSE experienced a corrective phase during this week's trading. This occurred as the general index approached a key resistance level at 10,205 points, a point where it encountered selling pressure driven by profit-taking, following strong gains across most market sectors, which saw growth rates exceeding 10% during the week.

He indicated that the current decline is part of a natural corrective movement, as several stocks had reached overbought levels following a recent rally. He noted that profit-taking does not necessarily signal a shift in the overall market trend; it reflects an attempt to consolidate gains and establish new buying positions.

Al-Tamimi that the general index is currently facing an initial support level at 9,919 points, which represents an important technical milestone for the coming period. He noted that the market's ability to hold above this level would enhance the prospects for trading stability and the return of buying momentum.

He noted that a break below the 9919-point level could push the index to test the next support level at 9857 points. This warrants close monitoring of market performance and liquidity flow over the coming sessions, as these serve as key indicators of investor sentiment.

On the other hand, the analyst explained that if the general index returns to test the resistance level at 10,205 points and manages to surpass it, this would pave the way for targeting higher technical levels, specifically 10,487 points, followed by 10,719 points. This suggests potential for resuming an upward trend, provided that the buying momentum persists and the performance of bellwether stocks improves.

Regarding liquidity, he noted that the market has reached levels not seen for some time. This reflects a resurgence of investment interest in the QSE, with signs that both local and foreign investment portfolios are entering the market, focusing specifically on bellwether stocks and companies with a significant relative weight in the index.

Al-Tamimi pointed out that some stocks reaching their daily upper price limit reflects strong demand for a number of companies and indicates an improved investor appetite for the market, especially given the gains achieved across various sectors throughout the week.

Gulf Times