The US Federal Reserve’s rate hike and the Chinese stimulus had its positive impact on the Qatar Stock Exchange (QSE) this week as its key index gained 448 points and

Gulf Times

capitalisation expanded about QR23bn.
The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index shot up 4.29% this week which saw Ooredoo Group disclose its intent to ink pact with Zain Group and TASC Tower to form the largest tower company in the Middle East and North Africa.
The industrials, real estate and banking counters witnessed higher than average demand this week which saw Capital Intelligence affirms long term foreign and local currency ratings of Qatar at ‘AA’ with “stable” outlook.
The foreign funds were increasingly bullish this week which saw QIIB report net profit of QR615.08mn in the first half (H1) of 2023.
As much as 72% of the traded constituents extended gains to investors this week which saw Barwa Real Estate's H1-2023 net profit at QR553mn.
The Gulf retail investors’ weakened net selling had its influence in the main market this week which saw Doha Bank report H1 net profit of QR553mn.
The Islamic index was seen gaining slower than the other indices this week which saw Vodafone Qatar register net profit of QR259.84mn in H1-2023.
The Arab institutions’ lower net profit booking pressure had its say in the main market this week which saw United Development Company’s H1-2023 net profit at QR187.59mn.
However, the local retail investors were increasingly bearish in the main bourse this week which saw Aamal Company report net profit of QR166.8mn in January-June 2023.
The domestic institutions were also increasingly net sellers this week which saw Gulf Warehousing’s net profit at QR114.82mn in H1-2023.
The Arab individuals turned bearish this week which saw a total of 0.3mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.7mn trade across 24 deals.
The foreign retail investors were increasingly net profit takers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.14mn change hands across 17 transactions.
Market capitalisation expanded 3.66% to QR639.34bn on the back of large and midcap segments this week which saw the banks and realty sectors together constitute more than 62% of the total trade volume in the main market.
The Total Return Index soared 4.29%, the All Share Index by 4% and the All Islamic Index by 3.71% this week, which saw no trading of sovereign bonds.
The industrials sector index zoomed 5.91%, real estate (5.64%), banks and financial services (4.87%), transport (1.5%), insurance (0.38%) and consumer goods and services (0.14%); while telecom declined 1.4% this week which saw no trading of treasury bills.
Major gainers in the main market included Qatar Oman Investment, Barwa, Industries Qatar, Inma Holding, Qatar Cinema and Film Distribution, QNB, Qatar Islamic Bank, QIIB, Alijarah Holding, Qatari German Medical Devices, Barwa, Ezdan and Milaha. In the venture market, Mahhar Holding saw its shares appreciate in value this week, which saw Qatar Industrial Manufacturing report net profit of QR107.21mn in H1-2023.
Nevertheless, Ooredoo, Mekdam Holding, Zad Holding, Estithmar Holding, Ahlibank Qatar and Nakilat were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its scrips depreciate in value this week, which saw Qatar’s trade surplus amount to QR17.41bn in June 2023.
The Gulf institutions’ net buying increased noticeably to QR186.96mn compared to QR162.58mn the week ended June 20.
The foreign institutions’ net buying expanded substantially to QR68.36mn against QR48.19mn the previous week.
The Gulf individuals’ net selling declined perceptibly to QR2.13mn compared to QR3.45mn a week ago.
The Arab institutions’ net profit booking eased marginally to QR0.12mn against QR0.44mn the week ended June 20.
However, the local retail investors’ net selling strengthened markedly to QR131.84mn compared to QR128.98mn the previous week.
The domestic institutions’ net profit booking jumped considerably to QR98.62mn against QR73.28mn a week ago.
The foreign individuals’ net selling shot up notably to QR13.97mn compared to QR10.88mn the week ended June 20.
The Arab retail investors turned net sellers to the extent of QR8.65mn against net buyers of QR6.26mn the previous week.
The main market witnessed a 19% jump in trade volumes to 1.11mn shares, 20% in value to QR2.63bn and 3% in deals to 85,534 this week.
In the venture market, trade volumes plunged 41% to 1.78mn equities, value by 37% to QR3.86mn and transactions by 39% to 323.