Expectations of rate cut by Federal Reserve as well as the Bank of Canada, the European Central Bank, and the Central Bank of Denmark's decision to cut the policy rates

Gulf Times

had their reflection on the Qatar Stock Exchange (QSE), which saw its index gain 213 points and capitalisation enhance in excess of QR11bn this week.

The domestic institutions were seen increasingly net buyers as the 20-stock Qatar Index surged 2.29% this week which saw Qatar's purchasing managers’ index in May 2024 find that non-energy private sector signalled strongest improvement since September 2023.

The consumer goods and transport counters witnessed higher than average demand this week which saw Nakilat to up its stake in Qatar Shipyard Technologies by 20%.

The Gulf institutions’ weakened net profit booking had its influence in the main market this week which saw Moody's, an international credit rating agency, affirm Qatar Electricity & Water Company's 'A1' long-term issuer ratings.

More than 67% of the traded constituents extend gains in the main bourse this week which saw Qatar's maritime sector saw brisk business year-on-year this May with more vessels calling on Hamad, Doha and Al Ruwais ports, leading to higher cargoes, container handling, vehicles and livestock through the three ports.

The foreign institutions’ lower net selling had its say in the main market this week which saw strong inflows of visitors -- especially from the Americas, Europe and the Gulf regions – reflect in an overall improved room yield in the country's hospitality sector as average room rate and occupancy grew this April.

However, the local retail investors were seen net sellers this week which saw a total of 1.46mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR3.16mn trade across 120 deals.

The Arab individuals turned bearish in the main bourse which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.28mn change hands across 41 transactions.

The Islamic index was seen gaining slower than the other indices in the main market this week which saw the consumer goods and banks together constitute about 57% of the total trade volumes.

Market capitalisation shot up QR11.19bn or 2.07% to QR553.03bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.

Trade turnover and volumes were on the decline in the main market this week which saw no trading of treasury bills.

In the case of venture market, trade turnover and volumes were also on the decrease this week, which saw Techno Q announce its listing date as June 26.

The Total Return Index zoomed 2.29%, the All Share Index by 2.07% and the All Islamic Index by 1.81% this week.

The consumer goods and sector index soared 7.68%, transport (3.79%), industrials (1.7%), banks and financial services (1.51%), realty (1%) and telecom (0.97%); while insurance declined 0.49% this week.

Major gainers in the main market this week included Al Meera, Ahlibank Qatar, Woqod, Medicare Group, Nakilat, Qatar Islamic Bank, QNB, Dlala, Salam International Investments, Industries Qatar, Qamco and Ooredoo.

Nevertheless, Qatar General Insurance and Reinsurance, Gulf Warehousing, Doha Insurance, Estithmar Holding, Qatari Investors Group, Qatar Oman Investment and Milaha were among the losers in the main bourse. In the venture, Al Mahhar Holding saw its shares depreciate in value this week.

The domestic funds’ net buying grew considerably to QR402.12mn compared to QR228.37mn the week ended May 30.

The foreign institutions’ net selling declined significantly to QR234.32mn against QR351.1mn the previous week.

The Gulf institutions’ net profit booking shrank perceptibly to QR81.77mn compared to QR88.89mn a week ago.

However, the local individuals were net sellers to the tune of QR48.32mn against net buyers of QR168.32mn the week ended May 30.

The Arab retail investors turned net sellers to the extent of QR21.71mn compared with net buyers of QR27.09mn the previous week.

The foreign individual investors were net profit takers to the tune of QR10.66mn against net buyers of QR10.66mn a week ago.

The Gulf retail investors turned net sellers to the extent of QR5.34mn compared with net buyers of QR4.35mn the week ended May 30.

The Arab institutions had no major net exposure against net buyers to the tune of QR1.21mn the previous week.

The main market witnessed 17% contraction in trade volumes to 728.37mn shares, 30% in value to QR2.2bn and 15% in deals to 78,572 this week.

In the venture market, trade volumes zoomed plummeted 69% to 0.3mn equities, value by 70% to QR0.48mn and transactions by 41% to 44.
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