Financial Analyst to QNA: Stock Index Performance Benefiting from FIFA World Cup Qatar 2022

Doha, November 10 (QNA) - The Qatari stock index rose 2 percent to close at 12557 after adding 251.19 points. Financial analyst Tamer Hassan said he expects further upside momentum in the short-term, especially as the FIFA World Cup Qatar 2022 start date approaches and the MSCI emerging index announces the rebalancing. He said he expects some of the companies in the financial sector will see their weighting raised. He told Qatar News Agency (QNA) that some sectors will benefit more than others, like telcos, real-estate and services. He noted that the index has been seeing mostly sideways action, with consolidation in the 12600-12700 range. He noted that this price action was positive given the pressure rising rates has been applying to equity risk-premiums. He added that the Qatari stock market was benefiting from the decision to raise foreign ownership in publicly-listed companies to 100%, with many foreign portfolios increasing their exposure to this part of the market. (QNA)