By Hanan Mohamed:

Doha-Mubasher: Financial market analyst Ahmed Akl said in a statement to Mubasher that he expected the benchmark index of Qatar Exchange (QE) to stabilize on Monday, backed by liquidity increase amid the pressures of foreign portfolios.
 

Ahmed Akl highlighted that the index closed at the important support level of 12445.34 points that will help it to rise to the 12500-point level, should it pass, it will move to the levels of 12550 and 12800 points respectively.

Akl further noted that there are a number of positive indicators such as the rise of banking sector, cash distributions for 2014 and companies’ financial announcements for the first quarter of 2015, as well as the oil price increase.

The index will be weighed by the cash dividends of Industries Qatar, as well as speculations, Akl added.

Foreign portfolios are expected to do some repositioning by exiting some sectors and entering others as well as exiting strong stocks or sectors to benefit from the dividend distributions.

Akl expected the foreign portfolios to continue pressuring on the index until the companies announce their financials.

Translated by Julian Nabil