The Qatar Stock Exchange (QSE) gained almost 1% this week, which saw global investors discount apprehensions on the US banking crisis.
The telecom, insurance, industrials, consumer goods and real estate counters saw higher than average demand as the 20-stock Qatar Index shot up 96 points this week which saw the Qatar Central Bank hike key rates by 25 basis points in view of the US Federal Reserve raising the reference rates by 25 basis points.
The Gulf institutions were seen increasingly bullish this week, which saw the country witness a cumulative 4.5% hike in interest rates in 15 months.
About 66% of the traded constituents extended gains in the main market this week, which saw the listed companies report cumulative net profit of QR49.48bn in 2022.
The local retail investors were seen net buyers this week which saw Aamal Company wins QR40mn contract for Ashghal project.
The Arab retail investors turned net buyers in the main market this week, which saw Nakilat and HSD Engine sign a long-term engine maintenance and service contract.
The foreign institutions’ weakened net selling had its influence in the main market this week which saw Barwa outline a multi-axes strategic plan for enhancing free cash flows.
The Islamic index was seen gaining slower than the main barometer in the main market this week which saw a total of 2.67mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR6.06mn trade across 100 deals.
Trade turnover shrank amidst higher volumes in the main market this week, which saw as many as 0.08mn Doha Bank-sponsored exchange traded fund QETF valued at QR0.77mn change hands across 46 transactions.
Market capitalisation was seen expanding QR9.28bn or 1.62% to QR580.4bn on the back of mid and small cap segments this week which saw the industrials and banking sectors together constitute about 68% of the total trade volume in the main market.
The Total Return Index gained 1.23%, All Share Index by 1.29% and All Islamic Index by 0.11% this week, which saw no trading of sovereign bonds.
The telecom sector index shot up 5.24%, insurance (4.22%), industrials (2.15%), consumer goods and services (1.43%), real estate (1.31%) and banks and financial services (0.97%); while transport declined 2.63% this week which saw no trading of treasury bills.
Major gainers in the main market included Estithmar Holding, Qatar General Insurance and Reinsurance, Inma Holding, Zad Holding, Gulf International Services, QIIB, Masraf Al Rayan, Lesha Bank, Dukhan Bank, Qatari German Medical Devices, Industries Qatar, Ezdan, Qatar Insurance, Mazaya Qatar, Ooredoo and Gulf Warehousing. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value this week.
Nevertheless, QLM, Qamco, Milaha, Barwa, Baladna, Medicare Group, Mannai Corporation, Widam Food, Qatari Investors Group and Beema were among the shakers in the main market this week.
The Gulf institutions’ net buying expanded substantially to QR70.62mn compared to QR37.31mn the week ended March 16.
The local retail investors turned net buyers to the tune of QR44.76mn against net sellers of QR3.71mn the previous week.
The Arab individual investors were net buyers to the extent of QR2.64mn compared with net sellers of QR18.24mn a week ago.
The foreign funds’ net selling declined significantly to QR74.17mn against QR125.2mn the week ended March 16.
However, the domestic institutions turned net sellers to the tune of QR27.98mn compared with net buyers of QR103.06mn the previous week.
The foreign retail investors were net sellers to the extent of QR13.96mn against net buyers of QR8.29mn a week ago.
The Gulf individuals’ net profit booking rose marginally to QR1.63mn compared to QR1.57mn the week ended March 16.
The Arab funds were net sellers to the tune of QR0.28mn against net buyers of QR0.06mn the previous week.
Total trade volume in the main market was up 2% to 730.69mn shares, while value shrank 14% to QR2.06bn amidst 8% jump in deals to 79,546.