The US Federal Reserve's decision to pause rate hike and the expectations regarding it had their reflection on the Qatar Stock Exchange (QSE), which saw its key index amass 393 points in key index and add QR21bn in capitalisation this week.
An across the board buying - particularly in telecom, transport, real estate and banking sectors – led the 20-stock Qatar Index surge 4.22% this week which saw the QSE-listed companies report a total net profit of QR37.42bn in the first nine months (9M) of this year.
More than 86% of the traded constituents extended gains to investors in the main market this week which the QSE disclose that it will move to a shorter settlement period of ‘T+2’ from ‘T+3’, effective from January 2, 2024.
The Arab retail investors were seen net buyers in the main bourse this week which saw Qatari Investors Group enter into a pact with Electronic Recycling Factory.
The Gulf individuals turned bullish in the main market this week which saw Qatar National Cement sell its dysfunctional Plant 1 to Arab International Metal Trading Company for QR10mn.
The Arab funds were seen net buyers, albeit at lower levels, in the main bourse this week which saw Qatar’s maritime sector see a 39% year-on-year jump in transshipment volumes in October 2023.
The domestic institutions continued to be net buyers but with lesser intensity in the main market this week, which saw Qatari Cinema and Film Distribution announce plans to open a new cinema hall in Al Thumama Mall.
The local retail investors were also net buyers but with lesser vigour in the main bourse this week which saw Ooredoo report QR2.66bn net profit in 9M-2023.
The Islamic index outperformed the other indices in the main market this week which saw a total of 0.03mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.07mn trade across 21 deals.
The foreign institutions were seen increasingly into net selling in the main bourse this week which saw as many as 0.07mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.66mn change hands across 61 transactions.
Market capitalisation was seen expanding QR21.29bn or 3.87% to QR571.78bn on the back of large and midcap segments this week which saw the industrials and banks together constitute more than 52% of the total trade volume in the main market.
Trade volumes and turnover were on the increase in both the main bourse and venture market this week which saw Qatar Insurance and Gulf International Services report net profit of QR446.29mn and QR414.61mn respectively in 9M-2023.
The Total Return Index zoomed 4.22%, the All Share Index by 3.91% and the All Islamic Index by 4.54% this week, which saw as many as 0.13mn sovereign bonds valued at QR1.29bn trade across three transactions.
The telecom sector soared 9.59%, transport (6.95%), realty (6.16%), banks and financial services (4.47%), insurance (2.58%), consumer goods and services (2.43%) and industrials (0.43%) this week which saw no trading of treasury bills.
Major gainers in the main market included Widam food, Salam International Investment, Alijarah Holding, Mazaya Qatar, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Baladna, Dlala, Gulf International Services, Mesaieed Petrochemical Holding, Qamco, Estithmar Holding, Ezdan, Ooredoo and Nakilat. In the venture market, Mahhar Holding saw its shares appreciate in value this week.
Nevertheless, QLM, Beema, Industries Qatar, Aamal Company and Qatar General Insurance and Reinsurance were among the shakers in the main bourse. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.
The Gulf institutions’ net buying increased substantially to QR76.44mn compared to QR14.97mn the week ended October 26.
The Arab individual investors turned net buyers to the tune of QR8.67mn against net profit takers of QR3.98mn a week ago.
The Gulf retail investors were net buyers to the extent of QR2.84mn compared with net sellers of QR2.71mn the previous week.
The Arab funds turned net buyers to the tune of QR0.03mn against net sellers of QR0.05mn the week ended October 26.
However, the foreign funds’ net selling grew considerably to QR147.56mn compared to QR113.43mn a week ago.
The foreign individuals’ net profit booking strengthened markedly to QR4.24mn against QR0.4mn a week ago.
The domestic institutions’ net buying decreased significantly to QR32.02mn compared to QR67.13mn the week ended October 26.
The local individual investors’ net buying weakened perceptibly to QR31.81mn against QR38.46mn a week ago.
The main market witnessed a 51% jump in trade volumes to 1.27bn shares, 38% in value to QR2.98bn and 24% in deals to 102,562 this week.
In the venture market, trade volumes expanded 16% to 9.88mn equities, value by 20% to QR15.22mn and transactions by 8% to 877.