By: Hanan Mohamed

Doha-Mubasher: The Qatar Stock Exchange (QSE) is expected to reverse the downward trend it maintained since the beginning of 2015, as H1 reporting season approaches and portfolios build new positions, according to Ahmed Maher, financial analyst at NAMA Economic Consulting.

The index will likely move sideways between 11,800 and 12,150 points, the analyst said, adding that it cannot break the resistance levels of 12,150, 12,200, 12,270 and 12,400 points respectively amid the current low liquidity.

Maher said that reaching QAR 350-400 million worth of turnover is important for the index to rebound.

The index managed to recover from most of the previous crises and stood at the important support level of 11,800 points.

Investors will tend to trade in stocks showing high growth in H1 like Khaleeji Commercial Bank and Barwa Real Estate.

Greece’s referendum “no” vote against austerity measures did not significantly affect the market, however, The European Union’s response to this step will be a determinant of the economic activity in the international and local markets in the coming period.

Translated by: Julian Nabil