The interest rate concerns in the global markets had its dampening effect on the Qatar Stock Exchange (QSE), which experienced net profit booking pressure this week.

Gulf Times

The local retail investors were increasingly net sellers as the 20-stock Qatar Index lost 0.69% this week which saw Oxford Economics view that the Gulf Co-operation Council economies will experience an extended period of higher interest rates.
The real estate, transport and industrials counters saw higher than average selling pressure in the main market this week which saw QTerminals, in which Milaha is an equity stakeholder, disclose its firm plans to construct and operate a new deep-well container terminal in Poland.
The foreign individuals were increasingly into net profit booking in the main bourse this week which saw the global credit rating agency Fitch affirm Commercial Bank’s issuer default rating at ‘A-’ with positive outlook.
The Arab retail investors’ net selling increased markedly in the main market this week which saw United Development Company (UDC) enter into agreement with Commercial Bank for QR2bn real estate financing.
The Gulf individuals were seen into increased net selling in the main bourse this week which saw QNBFS terminate liquidity provision agreement with Estithmar Holding.
The Islamic index was seen declining faster than the other indices in the main market this week which saw Edaa amend foreign ownership limit in Qatar Insurance Company u to 100%.
The Arab institutions were bearish, albeit at lower levels, in the main bourse this week which saw a total of 0.17mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.39mn trade across 33 deals.
However, the domestic funds turned bullish in the main market this week which saw as many as 0.06mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.56mn change hands across 32 transactions.
Market capitalisation melted QR1.29bn or 0.21% to QR603.95bn on the back of small and microcap segments this week which saw the industrials and banks together constitute about 62% of the total trade volume in the main bourse.
The Total Return Index shed 0.69%, the All Islamic Index by 1% and the All Share Index by 0.21% this week, which saw no trading of sovereign bonds.
The realty sector index plummeted 2.54%, transport (2.53%), industrials (1.07%), telecom (0.62%) and banks and financial services (0.07%); while insurance shot up 6.65% and consumer goods and services 1.84% this week which saw no trading of treasury bills.
About 53% of the traded constituents were in the red with major shakers being Milaha, Doha Insurance, UDC, Commercial Bank, Industries Qatar, QIIB, Qatar Oman Investment, Qatar National Cement, Estithmar Holding, Barwa and Mazaya Qatar. In the venture market, Mahhar Holding saw its shares depreciate in value this week.
Nevertheless, QLM, Qatar Insurance, Al Khaleej Takaful, Gulf International Services, Beema, Lesha Bank, Woqod, Qatar Industrial Manufacturing and Qamco were among the gainers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value this week.
The local retail investors’ net selling rose substantially to QR61.41mn compared to QR25.06mn the week ended September 21.
The foreign individuals’ net profit booking expanded significantly to QR14.75mn against QR0.61mn the previous week.
The Arab individual investors’ net selling strengthened markedly to QR9mn compared to QR1.92mn a week ago.
The Gulf individuals’ net selling grew noticeably to QR2.2mn against QR0.94mn the week ended September 21.
The Arab funds turned net sellers to the tune of QR0.11mn compared with net buyers of QR0.21mn the previous week.
The Gulf institutions’ net buying decreased drastically to QR6.25mn against QR66.78mn a week ago.
However, the domestic funds were net buyers to the extent of QR42.67mn compared with net sellers of QR26.96mn the week ended September 21.
The foreign institutions turned net buyers to the tune of QR38.55mn against net profit takers of QR11.49mn the previous week.
The main market witnessed a 4% jump in trade volumes to 909.39mn shares, 12% in value to QR2.56bn and 6% in deals to 85,234 this week.
In the venture market, trade volumes plunged 63% to 4.34mn equities, value by 57% to QR5.76mn and transactions by 13% to 422.
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