The easing global banking crisis led the Qatar Stock Exchange (QSE) to register a huge 206 points gain in key index and capitalisation to expand QR12bn this week.
The consumer goods, real estate, transport, and banking counters register higher than average demand as the 20-stock Qatar Index shot up 2.06% this week which saw Fitch, a global credit rating agency, upgrades the outlook on Qatar's long-term issuer default rating.
The domestic funds were bullish this week, which saw Fitch state that Qatar's debt-to-gross domestic product ratio will decline substantially this year and in 2024.
About 74% of the traded constituents extended gains to investors in the main market this week, which saw Qatar's trade surplus jump 2.9% on yearly basis in February 2023.
The foreign retail investors also turned net buyers this week which saw KPMG, a global entity, view that Qatar banks had the lowest cost-to-income and highest provision coverage among the Gulf peers.
The local retail investors continued to be net buyers but with lesser intensity in the main market this week, which saw Nakilat's shareholders approve the board recommendation to up the foreign ownership limit up to 100%.
The Islamic index was seen outperforming the other indices in the main market this week which saw a total of 0.4mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.94mn trade across 24 deals.
Trade turnover and volumes were on the increase in the main market this week, which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.31mn change hands across 22 transactions.
Market capitalisation was seen gaining QR12.09bn or 2.08% to QR592.49bn on the back of large and midcap segments this week which saw the industrials and banking sectors together constitute more than 62% of the total trade volume in the main market.
The Total Return Index gained 2.06%, the All Share Index by 1.97%, and the All Islamic Index by 2.41% this week, which saw no trading of sovereign bonds.
The consumer goods and services sector index zoomed 4.15%, realty (3.17%), transport (2.97%), banks and financial services (2.17%), telecom (1.52%) and industrials (0.6%); while insurance was flat this week which saw no trading of treasury bills.
Major gainers in the main market included Qatar General Insurance and Reinsurance, Masraf Al Rayan, Dukhan Bank, Qatari German Medical Devices, Dlala, Doha Bank, Lesha Bank, Salam International Investment, Woqod, Mannai Corporation, Baladna, Gulf International Services, Estithmar Holding, Qamco, QLM, Barwa, Mazaya Qatar, United Development Company, Nakilat and Vodafone Qatar this week which saw Wasata Financial Services sign pact to undertake market making for Masraf Al Rayan.
Nevertheless, Mekdam Holding, Qatar Industrial Manufacturing, Milaha, Qatar Cinema and Film Distribution, and Medicare Group were among the losers in the main market this week.
The domestic institutions turned net buyers to the tune of QR74.81mn against net sellers of QR27.98mn the week ended March 23.
The foreign individuals were net buyers to the extent of QR8.61mn against net sellers of QR13.96mn a week ago.
The Gulf individuals' net selling eased marginally to QR1.25mn compared to QR1.63mn the previous week.
However, the foreign funds' net profit booking grew markedly to QR86.29mn against QR74.17mna the week ended March 23.
The Arab individuals turned net sellers to the tune of QR23.45mn compared with net buyers of QR2.64mn a week ago.
The Arab funds' net selling expanded substantially to QR20.84mn against QR0.28mn the previous week.
The Gulf institutions' net buying shrank drastically to QR6.68mn compared to QR70.62mn the week ended March 23.
The local retail investors' net buying fell perceptibly to QR41.74mn against QR44.76mn a week ago.
Total trade volume in the main market increased 35% to 986.23mn shares, value by 23% to QR2.53bn, and deals by 10% to 87,671.