The Qatar Stock Exchange (QSE) defied an overall regional trend of a bearish run with its key index gaining as much as 495 points and capitalisation adding QR35bn this week,

Gulf Times

mainly on the back of strong first quarter corporate results.

The Gulf institutions were increasingly into net buying as the 20-stock Qatar Index shot up 4.87% this week which saw Ooredoo report net profit of QR960.57mn in the first quarter (Q1) of this year.

The telecom, real estate and banking counters witnessed higher than average demand this week which saw Dukhan Bank’s Q1 net profit at QR413.96mn.

The foreign institutions were increasingly net buyers this week which saw Qatar see a 475 basis points increase in interest rates since January 2022.

Some 74% of the traded constituents extended gains to investors in the main market this week, which saw Doha’s new business growth within non-energy private sector accelerate further in April this year.

However, the domestic funds were increasingly net profit takers in the main market this week which saw Qatar’s producer price index eases in March this year.

The local retail investors were also increasingly net sellers in the main market this week, which saw a total of 0.37mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.88mn trade across 32 deals.

The Islamic index was seen gaining slower than the other indices in the main market this week which saw as many as 0.48mn Doha Bank-sponsored exchange-traded fund QETF valued at QR4.81mn change hands across 264 transactions.

The Arab retail investors were seen net profit takers this week which saw trade turnover and volumes on the increase in the main market.

Market capitalisation was seen adding 5.93% to QR622.64bn on the back of large and midcap segments this week which saw the industrials and banking sectors together constitute more than 55% of the total trade volume in the main market.

The Total Return Index zoomed 4.87%, the All Share Index by 5.04%, and the All Islamic Index by 4.05% this week, which saw no trading of sovereign bonds.

The telecom sector index plummeted 8.99%, realty (7.33%), banks and financial services (6.36%), transport (4.19%), industrials (3.1%), consumer goods and services (1.27%) and insurance (0.61%) this week which saw no trading of treasury bills.

Major gainers in the main market included Salam International Investment, Ezdan, Qatar Oman Investment, Mazaya Qatar, QNB, Commercial Bank, Lesha Bank, Masraf Al Rayan, Alijarah Holding, Qatari German Medical Devices, Baladna, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco, Barwa, Ooredoo, Vodafone Qatar and Milaha. In the venture market, Al Faleh Educational Holding’s shares appreciated in value this week.

Nevertheless, Qatar Cinema and Film Distribution, Zad Holding, Estithmar Holding, Mekdam Holding ad Qatar Industrial Manufacturing were among the losers in the main market this week.

The Gulf institutions’ net buying increased substantially to QR339.97mn compared to QR46.99mn the week ended April 27.

The foreign institutions’ net buying expanded considerably to QR71.4mn against QR41.26mn a week ago.

The Arab institutional investors’ net buying rose marginally to QR0.11mn compared to QR0.02mn the previous week.

However, the domestic funds’ net selling grew significantly to QR266.55mn against QR85.06mn the week ended April 27.

The local retail investors; net profit booking shot up drastically to QR103.11mn compared to QR19.53mn a week ago.

The foreign individuals turned net sellers to the tune of QR20.45mn against net buyers of QR0.12mn the previous week.

The Arab retail investors were net sellers to the extent of QR13.11mn compared with net buyers of QR16.7mn the week ended April 27.

The Gulf individuals’ net profit booking strengthened perceptibly to QR8.27mn against QR0.49mn a week ago.

Trade volumes in the main market more than tripled to 1.16mn shares and value almost tripled to QR2.86bn on more than doubled deals to 105,326.
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