Reflecting the optimism in the regional bourses on expectations of an end to rate hikes in the US, Qatar Stock Exchange (QSE) saw its key index gain as much as 244 points and capitalisation add more than QR12bn this week.
The real estate and industrials counters witnessed higher than average demand as the 20-stock Qatar Index shot up 2.45% this week which saw Qatar’s consumer price index inflation rise 2.52% year-on-year in October 2023.
As much as 78% of the traded constituents extended gains to investors in the main market this week which saw a Cushman and Wakefield Qatar report that said tourism-related sectors in Qatar to remain ‘bright spot’.
The Gulf funds were bullish and domestic institutions were increasingly net buyers in the main bourse this week which saw QNB disclose that it cut greenhouse gas emissions by 16%.
The Arab retail investors turned net buyers in the main market this week which saw the International Gas Union (IGU) report that said the Middle East, led by Qatar, will be an important region in the global liquefied natural gas landscape.
The foreign individuals’ weakened net selling had its influence in the main bourse this week which saw an Invest Qatar report that said Doha’s cultural and creative industries contribute as much as QR20bn to the local economy during 2021, which is 3% gross domestic product.
The foreign institutions continued to be net buyers but with lesser intensity in the main market this week, which saw a total of 0.08mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.17mn trade across 16 deals.
The Islamic index outperformed the other indices in the main bourse this week which saw as many as 0.02mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.18mn change hands across 11 transactions.
Market capitalisation was seen expanding QR12.27bn or 2.1% to QR597.59bn on the back of large and midcap segments this week which saw the industrials and banks together constitute more than 59% of the total trade volume in the main market.
Trade volumes and turnover were on the decline both in the main bourse and venture market this week.
The Total Return Index zoomed 2.45%, the All Share Index by 2.07% and the All Islamic Index by 3.43% this week, which saw no trading of sovereign bonds.
The realty sector index soared 4.63%, industrials (2.9%), banks and financial services (2.29%), telecom (2.02%), consumer goods and services (1.33%) and insurance (0.4%); while transport declined 1.6% this week which saw no trading of treasury bills.
Major gainers in the main market included Industries Qatar, Ooredoo, Qatar Electricity and Water, Meeza, Vodafone Qatar, Medicare Group, Widam Food, Masraf Al Rayan, Qatari Investors Group, Qatar Islamic Bank, Commercial Bank, Doha Bank, Dukhan Bank and Baladna. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value this week.
Nevertheless, Doha Insurance, Nakilat, Beema, Milaha, Mannai Corporation, Inma Holding and Nakilat were among the shakers in the main market. In the juniour bourse, Mahhar Holding saw its shares depreciate in value this week.
The Gulf funds were net buyers to the tune of QR19.48mn against net profit takers of QR7.52mn the week ended November 9.
The domestic institutions’ net buying increased markedly to QR9.95mn compared to QR4.4mn the previous week.
The Arab individuals turned net buyers to the extent of QR1.12mn against net sellers of QR8.58mn a week ago.
The local retail investors’ net selling fell substantially to QR77.23mn compared to QR102.69mn the week ended November 9.
The foreign individuals’ net profit booking weakened noticeably to QR0.44mn against QR11.08mn the previous week.
However, the Gulf retail investors’ net selling strengthened perceptibly to QR1.61mn compared to QR0.44mn a week ago.
The foreign institutions’ net buying shrank considerably to QR48.72mn against QR125.92mn the week ended November 9.
The Arab institutions had no major net exposure for the second continuous week.
The main market witnessed a 23% contraction in trade volumes to 1.02bn shares, 15% in value to QR2.65bn and 11% in deals to 89,539 this week.
In the venture market, trade volumes plummeted 26% to 5.07mn equities, value by 26% to QR6.99mn and transactions by 28% to 496.
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