Investors pinned hopes on the proposed US-China trade talks as the Qatar Stock Exchange (QSE) closed this week on a higher note with its key index gaining as much as 72 points and capitalisation add in excess of QR3bn.
The foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.69% higher this week which saw Al Mahhar Holding Company evaluate two potential acquisition opportunities as part of its strategic growth agenda.
The transport, real estate, banks and telecom counters witnessed higher than average demand this week which saw Fitch, a global credit rating agency, forecast Qatar to see a fiscal surplus of 2.5% and debt/GDP (gross domestic product) to remain broadly stable at 49% in 2025.
The Arab retail investors were seen net buyers in the main bourse this week which saw the Qatar Central Bank maintain status quo in its interest rates, mirroring the US Federal Reserve’s decision.
The local individuals’ weakened net profit booking had its influence on the main bourse this week which saw a Qatar Financial Centre report that said Islamic finance assets in the country reached QR694bn by the end of 2024, with Islamic banking and sukuk making up 97% of the total.
More than 60% of the traded constituents extended gains to investors in the main market this week which saw a total of 0.1mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.22mn trade across 45 deals.
The Gulf individuals’ lower net selling had its marginal effect on the main bourse this week which saw as many as 927 Doha Bank-sponsored exchange-traded fund QETF valued at QR0.01mn change hands across seven transactions.
However, the domestic funds were seen net profit takers in the main market this week which saw no trading of sovereign bonds and treasury bills.
The foreign individuals’ increased net profit booking had its impact on the main bourse this week which saw Lesha Bank's subsidiary Lesha Capital receives an “in-principle” approval from Saudi Arabia's Capital Market Authority to manage investments and operate funds and advising.
The Islamic index was seen gaining slower than the other indices of the main market this week, which saw Elsewedy Cables Qatar, a subsidiary of Aamal Company, sign a QR1bn contract with Qatar General Electricity and Water Corporation.
Market capitalisation added QR3.61bn or 0.59% to QR618.59bn on the back of mid and small cap segments this week which saw the industrials and banking sectors together constitute more than 61% of the total trade volumes.
Trade turnover and volumes were on the decline in both the main and ventures markets this week.
The Total Return Index was up 0.69%, the All Islamic Index by 0.59% and the All Share Index by 0.71% this week.
The transport sector index surged 4.05%, realty (1.1%), banks and financial services (1.07%) and telecom (0.74%); whereas industrials declined 1.17%, insurance (1.07%) and consumer goods and services (0.11%) this week.
Major movers in the main market included Vodafone Qatar, Lesha Bank, Nakilat, Doha Bank, Qatar General Insurance and Reinsurance, QNB, AlRayan Bank, Dukhan Bank, Qatari German Medical Devices, Salam International Investment, Widam Food, Qamco, United Development Company, Mazaya Qatar and Milaha this week.
Nevertheless, Beema, Inma Holding, Qatar Insurance, Qatar Electricity and Water, QIIB, Ooredoo, Mannai Corporation, Qatari Investors Group and Industries Qatar were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value this week.
The foreign institutions’ net buying increased noticeably to QR156.83mn compared to QR109.19mn the week ended May 1.
The Gulf institutions turned net buyers to the tune of QR20.26mn against net profit takers of QR3.91mn the previous week.
The Arab retail investors were net buyers to the extent of QR3.04mn compared with net sellers of QR23.15mn a week ago.
The Qatari individual investors’ net selling declined substantially to QR41.31mn against QR91.98mn the week ended May 1.
The Gulf retail investors’ net profit booking eased marginally to QR3.6mn compared to QR3.77mn the previous week.
However, the domestic institutions turned net sellers to the tune of QR133.42mn against net buyers of QR14.98mn a week ago.
The foreign individual investors’ net selling expanded perceptibly to QR1.81mn compared to QR1.3mn the week ended May 1.
The Arab institutions had no major net exposure.
The main market saw a 3% fall in trade volumes to 905.37mn shares, 6% in value to QR1.96bn and 12% in deals to 88,298 this week.
In the venture market, trade volumes plummeted 86% to 0.02mn equities, value by 87% to QR0.05mn and transactions by 64% to 16.
The foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.69% higher this week.
