Author

Sunday, April 21, 2024 | Daily Newspaper published by GPPC Doha, Qatar.
 Santhosh V. Perumal
Santhosh V. Perumal
Santhosh V. Perumal, a postgraduate in Econometrics with an advance qualification in Capital Markets and Financial Services, is Gulf Times' journalist. His coverage areas are debt and equity, hydrocarbons, international trade, environment, banks, insurance and real estate. Previously, he was in New Delhi, India as Senior Finance Correspondent of PTI.
Gulf Times
Business
Fed uncertainties weigh on QSE as index loses 96 points; M-cap melts QR5.66bn

The global concerns over the US Federal Reserve’s views that restrictive monetary policy may last longer had cast its shadow on the Qatar Stock Exchange, which closed .text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px; }@media only screen and (max-width: 767px) {.text-box {width: 30%;} } **media[166087]** this week on a lower note. The industrials and banking sectors witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.95% this week which saw Qatar's consumer price index inflation decline 1.4% month-on-month this March. The domestic funds were seen increasingly into net profit booking this week which saw Qatar's industrial production index jump 0.4% year-on-year in February 2024. “The index remains below all MAs on the weekly chart, while a cross over the resistance line at 10,300 points would be the first improvement sign that should lead to 10,830 points, knowing that a close above this will target 11,130 points,” said a technical analysis note of Kamco Invest. The foreign institutions were seen increasingly bearish in the main market this week which saw Qatar Islamic Bank report a 5.5% year-on-year growth in net profit to QR955mn in the first three months of this year. The Gulf individuals’ increased net selling had its influence on the main bourse this week which saw Qatari Investors Group register net profit of QR43.5mn during January-March 2024. The foreign retail investors continued to be net profit takers but with lesser intensity in the main market this week which saw a total of 0.2mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.46mn trade across 26 deals. The local retail investors were seen net buyers in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.09mn change hands across 10 transactions. The Islamic index was seen gaining slower than the other indices in the main market this week which saw the industrials and banks sectors together constitute about 64% of the total trade volumes. Market capitalisation eroded QR5.66bn or 0.98% to QR570.64bn on the back of mid and small cap segments this week which saw no trading of sovereign bonds. Trade volumes and turnover were on the increase in both the main and venture markets this week which saw no trading of treasury bills. The Total Return Index shed 0.96%, the All Share Index by 0.86% and the All Islamic Index by 0.36% this week. The industrials sector index tanked 1.83%, banks and financial services (1.31%), telecom (0.43%), consumer goods and services (0.42%) and insurance (0.13%); while transport and real estate gained 2.8% and 1.12% respectively this week. Major losers in the main market included Qatari Investors Group, Commercial Bank, Qatar Islamic Insurance, Industries Qatar, Alijarah Holding, Qatar Islamic Bank, QNB, Ahlibank Qatar, Woqod, Qatar German Medical Devices, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan and Mazaya Qatar. In the venture market, Al Mahhar Holding saw its shares depreciate in value this week. Nevertheless, Meeza, Baladna, Gulf Warehousing, Medicare Group, Milaha, QIIB, Qatar Oman Investment, Widam Food, Mekdam Holding, Aamal Company, Qamco, United Development Company and Nakilat were among the gainers in the main bourse this week. The domestic funds’ net selling strengthened drastically to QR68.03mn compared to QR2.18mn the week ended April 11. The foreign institutions turned net sellers to the tune of QR67.42mn against net buyers of QR17.68mn the previous week. The Gulf individuals’ net profit booking increased perceptibly to QR1.15mn compared to QR0.62mn a week ago. However, the Gulf institutions’ net buying surged drastically to QR61.81mn against QR13.01mn the week ended April 11. The Qatari individuals were net buyers to the extent of QR58.05mn compared with net sellers of QR10.08mn the previous week. The Arab individual investors turned net buyers to the tune of QR17.37mn against net profit takers of QR12.21mn a week ago. The foreign retail investors’ net selling weakened noticeably to QR0.62mn compared to QR5.62mn the week ended April 11. The Arab institutions continued to have no major net exposure. The main market witnessed trade volumes more than tripled to 778.71mn shares and value more than triple to QR2.35bn and deals also more than triple to 80,908 this week. In the venture market, trade volumes more than doubled to 0.77mn equities and value also more than doubled to QR1.16mn on almost tripled transactions to 108.

The Gulf institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index settled at 9,853.25 points on Wednesday, recovering from an intraday low of 9,820 points
Business
QSE pitches flat despite five sectors generate buying interests

The Qatar Stock Exchange (QSE) on Wednesday treaded a flat path despite five of the seven sectors extending gains..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[165545]**The Gulf institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index settled at 9,853.25 points, recovering from an intraday low of 9,820 points.The local retail investors were also seen net buyers but with lesser vigour in the main market, whose year-to-date losses stood at 9.02%.As much as 50% of the traded constituents extended gains in the main bourse, whose capitalisation added QR0.72bn or 0.13% to QR572.51bn on account of microcap segments.The real estate, transport, banking and insurance counters witnessed higher than average demand in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.03mn trade across four deals.The foreign institutions’ substantially lower net selling had its influence in the main bourse, which saw no trading of sovereign bonds.The domestic institutions’ weakened net profit booking had its say in the main bourse, which saw no trading of treasury bills.The Total Return Index was rather unchanged, while the All Share Index was up 0.1% and the All Islamic Index by 0.08% in the main bourse, whose trade turnover and volumes were on the decline.The realty sector index gained 1.34%, transport (0.44%), banks and financial services (0.33%), insurance (0.19%) and consumer goods and services (0.04%); while industrials and telecom declined 0.69% and 0.19% respectively.Major gainers in the main market included Al Khaleej Takaful, Widam Food, Estithmar Holding, Inma Holding, Qatar Oman Investment, QNB, Masraf Al Rayan, Medicare Group, Mannai Corporation, Baladna, Barwa and United Development Company.Nevertheless, Qatari Investors Group, Commercial Bank, Qamco, Meeza, Gulf Warehousing, Industries Qatar and Mesaieed Petrochemical Holding were among the losers in the main bourse. In the venture market, Al Mahhar Holding saw its shares depreciate in value.The foreign institutions’ net selling declined significantly to QR4.89mn compared to QR27.38mn on April 16.The domestic institutions’ net profit booking eased marginally to QR10.68mn against QR11.8mn the previous day.However, the Arab individuals turned net sellers to the tune of QR1.05mn compared with net buyers of QR0.27mn on Tuesday.The Gulf retail investors were net sellers to the extent of QR0.38mn against net buyers of QR0.07mn on April 16.The Gulf institutions’ net buying declined markedly to QR12.67mn compared to QR21.23mn the previous day.The Qatari individual investors’ net buying weakened noticeably to QR2.94mn against QR14.47mn on Tuesday.The foreign retail investors’ net buying shrank perceptibly to QR1.38mn compared to QR2.52mn on April 16.The Arab institutions had no major net exposure for the fourth straight session.Trade volumes in the main market tanked 12% to 132.92mn shares, value by 26% to QR365.13mn and deals by 5% to 14,628.

An oil refinery on the outskirts of Doha (file). Higher extraction of hydrocarbons as well as production of chemicals and food products led Qatar's industrial production index (IPI) to jump 0.4% year-on-year this February, according to figures released by the Planning and Statistics Authority (PSA).
Business
Higher hydrocarbons extraction, chemicals and food products expansion lift Qatar’s IPI in February: PSA

Higher extraction of hydrocarbons as well as production of chemicals and food products led Qatar's industrial production index (IPI) jump 0.4% year-on-year this February, according to official statistics.The country's IPI, however, fell 8.2% on a monthly basis in the review period, according to figures released by the Planning and Statistics Authority (PSA).The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period, with respect to a base period of 2013.The mining and quarrying index, which has a relative weight of 82.46%, shot up 1% on a yearly basis due to 1% jump in the extraction of crude petroleum and natural gas; even as there was 7.7% contraction in other mining and quarrying segments.The sector index had seen a 9.5% contraction month-on-month in the review period owing to 9.5% plunge in extraction of crude petroleum and natural gas; whereas there was a 2.1% increase in other mining and quarrying segments.The manufacturing index, with a relative weight of 15.85%, nevertheless fell 3.1% on a yearly basis on a 21.9% drop in the production of basic metals, 17.2% in refined petroleum products, 9.1% in printing and reproduction of recorded media, 5% in rubber and plastics products, 3.8% in beverages and 0.7% in cement and other non-metallic mineral products; even as there was a 5.3% surge in chemicals and chemical products and 2.9% in food products in February 2024.On a monthly basis, the sector index was down 0.1% on account of a 14.3% decrease in the production of refined petroleum products, 6.2% in beverages, 3.7% in basic metals, 3.7% in cement and other non-metallic mineral products and 0.1% in rubber and plastics products in the review period.However, there was a 5% expansion in the production of food products, 4.8% in chemicals and chemical products, and 4.7% in printing and reproduction of recorded media in February 2024.Electricity, which has a 1.16% weight in the IPI basket, saw its index fall 3% and 11.1% year-on-year and month-on-month in the review period.In the case of water, which has a 0.53% weight, the index was seen increasing 8.5% on an annualised basis whereas it shrank 9.5% on a monthly basis in the review period.

The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index lost 0.69% to 9,853.16 points Tuesday, having touched an intraday high of 9,940 points
Business
QSE as index falls 68 points; M-cap erodes QR3.63bn

Reflecting the Federal Reserve rate cut concerns after a stronger than expected retail push in the US and the rising geopolitical tensions, the Qatar Stock Exchange (QSE) Tuesday fell.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[130236]**more than 68 points, mainly dragged by transport and industrials sectors.The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index lost 0.69% to 9,853.16 points, having touched an intraday high of 9,940 points.The domestic institutions were also increasingly net profit takers in the main market, whose year-to-date losses widened to 9.03%.As much as 70% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.63bn or 0.63% to QR571.79bn on account of midcap segments.The Gulf institutions’ lower net buying interests had its influence in the main market, which saw as many as 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn trade across nine deals.The Arab retail investors’ weakened net buying had its say in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen declining slower than the other indices in the market, which saw no trading of treasury bills.The Total Return Index shrank 0.69%, the All Share Index by 0.64% and the All Islamic Index by 0.52% in the main bourse, whose trade turnover and volumes were on the decline.The transport sector index plummeted 2.19%, industrials (0.87%), insurance (0.65%), and banks and financial services (0.54%); while consumer goods and services gained 0.36%, real estate (0.23%) and telecom (0.05%).Main losers in the main bourse included Inma Holding, Milaha, Mannai Corporation, Qatar General Insurance and Reinsurance, Nakilat, Dukhan Bank, Commercial Bank, Industries Qatar, Gulf International Services, Qamco, Ezdan and Mazaya Qatar.Nevertheless, Meeza, Mekdam Holding, Medicare Group, Barwa, Gulf Warehousing and Ooredoo were among the movers in the main market.The foreign institutions’ net selling strengthened significantly to QR27.38mn compared to QR17.25mn on April 15.The domestic institutions’ net profit booking grew noticeably to QR11.8mn against QR5.5mn the previous day.The Gulf institutions’ net buying declined markedly to QR21.23mn compared to QR28.15mn on Monday.The Arab individual investors’ net buying decreased perceptibly to QR0.27mn against QR5.37mn on April 15.The foreign retail investors’ net buying eased notably to QR2.52mn compared to QR3.3mn the previous day.However, the Qatari individuals turned net buyers to the tune of QR14.47mn against net sellers of QR13.69mn on Monday.The Gulf individuals were net buyers to the extent of QR0.07mn compared with net sellers of QR0.58mn on April 15.The Arab institutions had no major net exposure for the third straight session.Trade volumes in the main market tanked 30% to 150.82mn shares, value by 25% to QR492.26mn and deals by 27% to 15,351.

The Gulf institutions were seen net buyers as the 20-stock Qatar Index rose 0.78% to 9,921.37 points Monday, although it touched an intraday high of 9,943 points
Business
Gulf funds’ strong buying lifts QSE 77 points; Islamic equities outperform

The Qatar Stock Exchange (QSE) Monday opened the week on a stronger note with its key index gaining more than 77 points on strong buying interests, especially in the transport and.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[164763]**telecom sectors.The Gulf institutions were seen net buyers as the 20-stock Qatar Index rose 0.78% to 9,921.37 points, although it touched an intraday high of 9,943 points.The Arab individuals’ increased net buying had its influence in the main market, whose year-to-date losses truncated to 8.4%.More than 78% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR4.19bn or 0.73% to QR575.42bn on account of large and midcap segments.The foreign retail investors turned net buyers in the main market, which saw as many as 3,880 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn trade across two deals.The domestic institutions’ weakened net selling had its say in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen gaining faster than the other indices in the market, which saw no trading of treasury bills.The Total Return Index grew 0.78%, the All Share Index by 0.68% and the All Islamic Index by 1.01% in the main bourse, whose trade turnover and volumes were on the increase.The transport sector index shot up 3.31%, telecom (1.15%), real estate (0.88%), industrials (0.77%), consumer goods and services (0.39%) and banks and financial services (0.33%); while insurance declined 0.93%.Main gainers in the main bourse included Qamco, Gulf Warehousing, Widam Food, Nakilat, Medicare Group, Lesha Bank, Masraf Al Rayan, Dlala, Inma Holding, Meeza, Mesaieed Petrochemical Holding, Al Faleh Educational Holding, Al Khaleej Takaful, Ooredoo and Milaha. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Qatar Insurance, QLM, Commercial Bank, Qatar Islamic Insurance, Ahlibank Qatar and Industries Qatar were among the losers in the main market.The Gulf institutions turned net buyers to the tune of QR28.15mn compared with net sellers of QR7.01mn on April 14.The Arab individual investors’ net buying increased marginally to QR5.37mn against QR5.11mn the previous day.The foreign retail investors were net buyers to the extent of QR3.3mn compared with net sellers of QR6.91mn on Sunday.The domestic institutions’ net profit booking weakened noticeably to QR5.5mn against QR13.21mn on April 14.The Gulf individuals’ net selling shrank perceptibly to QR0.58mn compared to QR0.74mn the previous day.However, the foreign institutions’ net selling strengthened significantly to QR17.25mn against QR6.98mn on Sunday.The Qatari individuals turned net sellers to the tune of QR13.69mn compared with net sellers of QR29.74mn on April 14.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market soared 85% to 214.63mn shares, value by 101% to QR652.65mn and deals by 82% to 21,168.The venture market saw 14% contraction in trade volumes at 0.24mn equities, 33% in value to QR0.36mn and 13% in transactions to 36.

Wasata Financial Services was seen considerably gaining foothold in stock trading; even as The Group Securities, QNB Financial Services, and Commercial Bank Financial Services together constituted about 82% share trade turnover of the brokerages in the Qatar Stock Exchange during the first three months of this year
Business
Wasata Financial sees considerable improvement in market share in trade turnover in January-March

Wasata Financial Services was seen considerably gaining foothold in stock trading; even as The Group Securities, QNB Financial Services (QNBFS) and Commercial Bank Financial Services together constituted about 82% share trade turnover of the brokerages in the Qatar Stock Exchange (QSE) during the first three months of this year.Wasata Financial Securities and the QNBFS, which offer both market making and liquidity provisioning services, saw their share of trade turnover improve year-on-year during January-March 2024, according to the Qatar Stock Exchange data.The Group Securities’ share stood at 33.47% in January-March 2024 compared to 36.28% the previous year period. Its trading turnover was down 0.09% year-on-year to QR21.43bn. The transactions through it however rose 2.6% on an annualised basis to 0.74mn but on 6.18% lower volumes to 9.11mn shares at the end of March 31, 2024.The QNB subsidiary QNBFS' trade turnover amounted to QR23.66bn, which constituted 36.95% of the total traded value during January-March 2024 against 34.97% a year-ago period. The turnover shot up 14.47% year-on-year, volumes by 52% to 6.08mn equities and transactions by 3.84% to 0.77mn in the review period.The Commercial Bank Financial Services accounted for 11.13% of trade turnover compared to 11.86% during January-March 2023. The brokerage house's trade turnover was up 1.71% year-on-year to QR7.13bn and volumes by 32.52% to 2.16mn stocks, whereas deals shrank 9.43% to 0.23mn in the review period.The Commercial Bank’s subsidiary was the first bank brokerage in the country to launch margin trading product. The bourse recently amended the list of securities eligible for market making, liquidity provision, margin trading, and covered short‐selling activities; making more companies eligible.The approved market makers in the local bourse are The Group Securities, QNBFS and Wasata Financial Services. The approved liquidity providers are The Group Securities, QNBFS, CBFS and Wasata Financial Services.Wasata Financial Securities' share was 8.71% of trading turnover during January-March 2024 compared to 2.88% in the comparable period of 2023. Its trade turnover zoomed 228.24% year-on-year to QR5.58bn, volumes by 238.1% to 2.13mn shares and deals by 282.48% to 0.19mn at the end of March 2024.Qatar Securities accounted for 5.77% of trade turnover during the first three months of 2024 compared to 8.41 the previous year period. The brokerage's trading turnover dipped 25.55% year-on-year to QR3.7bn, volumes by 20.83% to 0.76mn equities and transactions by 23.17% to 0.1mn at the end of March 2024.Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 3.33% of trade turnover against 3.56% the year-ago period. The brokerage’s trading turnover was QR2.13bn, which rose 0.95% year-on-year during January-March 2024. The deals through it shot up 7.55% on a yearly basis to 0.06mn but volumes tanked 10.67% to 0.67mn stocks at the end of March 2024.Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover plunge 66.67% on an annualised basis to QR0.4bn, cornering a market share of 0.63% during January-March of 2024 compared to 2.03% a year ago period. The volumes handled by the banking subsidiary plummeted 47.83% to 0.12mn shares and deals through it by 58.65% to 0.01mn during the review period.

Qatar's automobile sector painted a rosy picture with sales, especially of private vehicles and trailers, recording a robust double-digit growth in February on an annualised basis, according to the Planning and Statistics Authority.
Business
Faster sales of private vehicles, trailers rev up Qatar's automobile sector in February: PSA

Qatar's automobile sector painted a rosy picture with sales, especially of private vehicles and trailers, recording a robust double-digit growth in February 2024 on an annualised basis, according to the Planning and Statistics Authority (PSA).The country saw 7,231 new vehicles registered in the month, jumping 23.4% year-on-year but fell 15% month-on-month in the review period.Registration of new private vehicles stood at 5,538; which surged 29.2% on a monthly basis; whereas it fell 8.8% on a monthly basis in February. Such vehicles constituted 76.59% of the total new vehicles registered in the country in the review period.As many as 34 trailers were registered in February, which jumped 10% year-on-year but declined 33.3% month-on-month. These constituted 0.47% of the total new vehicles in the review period.New registration of other non-specified vehicles stood at 422 units, which soared 175.8% on an annualised basis but tanked 45.8% on a monthly basis in February 2024. These constituted 5.84% of the total new vehicles registered in the country in the review period.Registration of new private transport vehicles stood at 971; which shrank 1.2% and 13.6% year-on-year and month-on-month respectively in February 2024. Such vehicles constituted 13.43% of the total new vehicles in the review period.Registration of new private motorcycles stood at 142 units, which plummeted 48.7% and 60.6% on yearly and monthly basis respectively. These constituted 1.96% of the total new vehicles in the review period.Registration of new heavy equipment stood at 124, which constituted 1.74% of the total registrations this February. Their registrations had seen a 6.1% shrinkage on an annualised basis, while it was unchanged from the previous month's level in the review period.Registration was renewed for 72,758 vehicles, which saw a 2.7% growth on a yearly basis but dipped 11% month-on-month. It constituted 56.84% of the clearing of vehicle-related processes in the review period.The transfer of ownership was reported in 30,831 vehicles in February 2024, which shrank 5.3% and 7.8% on a yearly and monthly basis respectively. It constituted 24.09% of the clearing of vehicle-related processes in the review period.The lost/damaged vehicles stood at 8,262 units, which shot up 36.3% and 65.7% respectively. They constituted 6.45% of the clearing of vehicle-related processes in the review period.The modified vehicles’ registration stood at 3,913; which fell 28.6% and 19.8% respectively. They constituted 3.06% of the clearing of vehicle-related processes in the review period.The number of vehicles meant for exports stood at 2,754 units, which zoomed 78.3% and 16% respectively. It constituted 2.15% of the clearing of vehicle-related processes in the review period.The number of cancelled vehicles was 2,142; surging 2.9% and 10.3% year-on-year and month-on-month this February. They constituted 1.67% of the clearing of vehicle-related processes in the review period.The re-registration was done in 128 vehicles, which soared 75.3% on an annualised basis but declined 28.5% month-on-month in February 2024.The clearing of vehicle-related processes stood at 128,002 units, which was up 2.7% year-on-year but shrank 7.3% on a monthly basis in the review period.

The foreign institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.14% to 9,924.16 points on Monday, recovering from an intraday low of 9,890 points
Business
QSE gains 14 points as banks, realty and consumer goods counters see more demand

Ahead of Eid holidays, the Qatar Stock Exchange (QSE) on Monday gained as much as 14 points on the back of buying interests, especially in the banks, real estate and consumer goods.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[130236]**sectors.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.14% to 9,924.16 points, recovering from an intraday low of 9,890 points.The domestic institutions turned bullish in the main market, whose year-to-date losses truncated further to 8.37%.The foreign individuals’ weakened net selling had its influence in the main bourse, whose capitalisation added QR1.24bn or 0.22% to QR576.3bn on account of midcap segments.The Gulf retail investors’ lower net profit booking pressure also had its say in the main market, which saw as many as 0.05mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.13mn trade across five deals.The Gulf institutions continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen gaining slower than the other indices in the market, which saw no trading of treasury bills.The Total Return Index grew 0.14%, the All Share Index by 0.19% and the All Islamic Index by 0.12% in the main bourse, whose trade turnover and volumes were on the increase.The banks and financial services sector index gained 0.59%, realty (0.23%), consumer goods and services (0.22%), insurance (0.04%) and transport (0.01%); while telecom declined 1.1% and industrials (0.34%).Main gainers in the main bourse included Qatar Islamic Insurance, Masraf Al Rayan, Qatar Oman Investment, Mekdam Holding, Widam Food, Qatar German Medical Devices, Estithmar Holding and Ezdan.Nevertheless, Beema, Inma Holding, Dlala, Qatari Investors Group, Ooredoo, Lesha Bank, Industries Qatar and Gulf International Services were among the losers in the main bourse.The foreign institutions’ net buying increased substantially to QR11.09mn compared to QR6.59mn on April 7.The domestic institutions turned net buyers to the tune of QR5.58mn against net sellers of QR7.76mn the previous day.The foreign individual investors’ net selling declined noticeably to QR2.02mn compared to QR3.6mn on Sunday.The Gulf retail investors’ net profit booking shrank perceptibly to QR0.1mn against QR0.51mn on April 7.However, the Arab individuals’ net selling strengthened markedly to QR11.67mn compared to QR0.54mn the previous day.The Qatari individuals’ net profit booking strengthened perceptibly to QR5.82mn against QR7.76mn on Sunday.The Gulf institutions’ net buying decreased considerably to QR2.94mn compared to QR10.06mn on April 7.The Arab institutions had no major net exposure against net buyers to the tune of QR0.01mn the previous day.Trade volumes in the main market were up 2% to 116.67mn shares, value by 3% to QR315.14mn and deals by 36% to 12,612.The venture market saw 68% contraction in trade volumes at 0.08mn equities, 68% in value to QR0.12mn and 65% in transactions to 9.

The IMF
Business
IMF paper suggests Qatar open up more sector, expand freehold realty ownership

Qatar should adopt a five-point agenda, including opening up of more sectors, reducing trade-weighted tariff rates on non-agriculture and non-fuel products and expanding freehold ownership of real estates from the current designated zones, to further improve the country's business environment, an International Monetary Fund (IMF) working paper has suggested."A comprehensive, well-integrated and properly sequenced reform package, which exploits complementarities across reforms, would have the most success in boosting Qatar’s potential growth significantly," said the working paper from the Bretton Woods institution.Stressing the need for further trade openness, the paper said it could be achieved through multiple ways, including reducing trade-weighted tariff rates on non-agriculture and non-fuel products; enhancing services trade through lower non-tariff barriers, streamlining customs clearance procedures and simplifying documentation needs for trade transactions, and further easing trade in the banking, insurance, and commercial agencies.It could also be achieved through promoting free trade pacts and facilitating regional trade integration by aligning trade regulations and tax on goods and services within the Gulf Cooperation Council (GCC), the report said.Qatar established a single window electronic customs clearance system (Al-Nadeeb) to support trade. At present, there is a common external tariff among the GCC members but internal border posts are still in operation, and each GCC member maintains autonomy through its individual customs administration.While Qatar benefits from a number of bilateral trade pacts, the IMF paper said compliance costs for imports and exports remain above the OECD (Organisation for Economic Co-operation and Development) median. Trade-weighted tariff rates for non-agricultural and non-fuel products remain well above the OECD level.The business environment improvement should promote foreign and private investment by opening up more sectors for foreign investment and allowing for majority foreign ownership, especially outside of the economic zones; and further expanding freehold ownership of real estates from the current designated zones.Despite recent reforms to liberalise foreign ownership, the IMF paper said restrictions remain on foreign investment in certain sectors (banking, insurance, and commercial agencies). Similarly, foreign ownership and leasing rights of real estates, while broadened, still limit to designated zones.Additionally, to support foreign investment in building a knowledge economy, enhancing digital infrastructure (improving internet speed) to effectively communicate, disseminate and process knowledge is crucial.In a bid to reduce the role of SOEs (state-owned enterprises), the paper suggested increasing competition and enhancing procurement bidding processes to boost private sector development."Revisiting preferential treatment given to large enterprises (including SOEs) in government procurement could help create a level playing field," it said.On easing small and medium enterprises' (SMEs) access to finance; it said there was a need to enhance the insolvency framework and the efficiency of the court system; increasing coverage of the credit bureau and credit registry; and protecting the legal rights of borrowers and lenders by enhancing property rights.It also suggested increasing the recovery rate by improving foreclosure/receivership proceedings and the efficiency of proceedings to reduce cost; and encouraging the use of a robust fintech ecosystem."While protecting personal data, simplifying procedures for banks to obtain information needed to grant credit would also facilitate access to finance," the working paper said.It also highlighted the need to further improve legislative and regulatory frameworks to reduce bureaucracy and streamline business regulations.

Gulf Times
Business
Across the board buying lifts QSE 94 points; M-cap adds QR5.42bn

The US rate cut expectations continued to have its positive effect on the Qatar Stock Exchange (QSE), which Monday opened the week on a stronger note with its key index.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[160811]**gaining as much as 94 points.A higher than average demand, especially in telecom and transport counters, helped the 20-stock Qatar Index gain 0.96% to 9,910.16 points, recovering from an intraday low of 9,846 points.About 76% of the traded constituents in the main market extended gains in the main market, whose year-to-date losses truncated to 8.5%.The Gulf institutions were increasingly net buyers in the main bourse, whose capitalisation added QR5.42bn or 0.95% to QR575.06bn on account of midcap segments.The local retail investors’ substantially weakened net selling had its influence in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.1mn trade across 18 deals.The Gulf individuals’ lower net selling also had its say in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen gaining faster than the other indices in the market, which saw no trading of treasury bills.The Total Return Index grew 0.96%, the All Share Index by 0.95% and the All Islamic Index by 1.05% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector index shot up 2.87%, transport (1.39%), banks and financial services (0.91%), real estate (0.81%), insurance (0.74%), consumer goods and services (0.65%) and industrials (0.57%).Main gainers in the main bourse included Qatar Oman Investment, Alijarah Holding, Ooredoo, Inma Holding, Gulf International Services, Masraf Al Rayan, Lesha Bank, Aamal Company, Mazaya Qatar, Barwa, Nakilat and Gulf Warehousing. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Mekdam Holding, Mesaieed Petrochemical Holding, Commercial Bank, Al Faleh Educational Holding and Al Khaleej Takaful were among the shakers in the main bourse.The Gulf institutions’ net buying increased considerably to QR10.06mn compared to QR2.12mn on April 4.The Qatari individuals’ net selling weakened substantially to QR7.76mn against QR49.63mn the previous day.The Gulf individual investors’ net profit booking declined perceptibly to QR0.51mn compared to QR1.66mn last Thursday.The Arab institutions turned net buyers to the tune of QR0.01mn against sellers of QR0.03mn on April 4.However, the domestic institutions’ net selling strengthened perceptibly to QR7.76mn compared to QR6.89mn the previous day.The foreign retail investors were net sellers to the extent of QR3.6mn against net buyers of QR3.24mn last Thursday.The Arab individual investors turned net sellers to the tune of QR0.54mn compared with net buyers of QR0.55mn on April 4.The foreign institutions’ net buying declined significantly to QR6.59mn against QR52.28mn the previous day.Trade volumes in the main market tanked 40% to 114.6mn shares, value by 44% to QR306.03mn and deals by 52% to 9,256.The venture market saw a more than 12-fold jump in trade volumes at 0.25mn equities, more than 12-fold increase in value to QR0.383mn on more than quadrupled transactions to 26.

The telecom, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index tanked 1.28% this week
Business
QSE key index plunges 127 points; M-cap erodes QR4.58bn

Notwithstanding the hints regarding a possible US rate cut, which came on Wednesday, and the upbeat Chinese manufacturing data, the Qatar Stock Exchange (QSE) .text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px; }@media only screen and (max-width: 767px) {.text-box {width: 30%;} } **media[160811]** remained bearish run with its key index losing as much as 127 points and market capitalisation melting more than QR4bn this week. The telecom, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index tanked 1.28% this week, which saw Qatar’s purchasing managers index find further improvement in the country’s non-energy private sector’s business environment. The local retail investors were seen net profit takers in the main market this week which saw QNB completes $1bn Formosa bond issue. The Gulf institutions turned bearish in the main bourse this week which saw United Development Company and Vodafone Qatar replace Baladna and Ezdan in the main barometer. The Gulf individuals’ weakened net buying had its influence in the main bourse this week which saw Fitch upgrades Commercial Bank’s credit rating to ‘A’ with “stable” outlook. The foreign retail investors’ lower net buying had its say in the main market this week which saw Capital Intelligence upgrade QIIB’s credit rating to ‘A+’ with “stable” outlook. However, the domestic funds were seen increasingly into net buying in the main bourse this week which saw a total of 0.03mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.06mn trade across 17 deals. The Arab institutions turned net sellers, albeit at lower levels in the main market this week which saw as many as 216 Doha Bank-sponsored exchange-traded fund QETF valued at QR2,160 change hands across five transactions. The Islamic index was seen declining slower than the other indices in the main market this week which saw the banks and real estate sectors together constitute more than 60% of the total trade volumes. Market capitalisation eroded QR4.58bn or 0.8% to QR569.64bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills. Trade volumes and turnover were on the increase in the main market; whereas it was on the decline in the junior bourse this week which saw Qatar's ports witness brisk activities in the first quarter of 2024, auguring well for the logistics and allied services sectors. The Total Return Index shed 0.66%, the All Share Index by 0.52% and the All Islamic Index by 0.56% this week which saw Qatar's hospitality sector see considerable improvement in room yield this February, amid double digit growth in visitor arrivals. The telecom sector index plummeted 4.68%, transport (3.84%), banks and financial services (1.65%) and insurance (0.7%); while industrials gained 3.31%, real estate (2.82%) and consumer goods and services (0.81%) this week which saw Standard and Poor’s expect Mekdam Holding’s Ebitda (earnings before interest, tax, depreciation and amortisation) to expand to as much as QR60mn by 2025 from an estimated QR50mn this year; helping it to reduce debt-Ebitda ratio. Major losers in the main market included Mekdam Holding, Commercial Bank, QIIB, Ahlibank Qatar, Medicare Group, Qatar Islamic Bank, Inma Holding, Mannai Corporation, Qatar General Insurance and Reinsurance, United Development Company, Ooredoo, Vodafone Qatar, Nakilat and Milaha this week. Nevertheless, Qatar German Medical Devices, Qamco, Industries Qatar, Al Meera, Al Faleh Educational Holding, Doha Bank, Lesha Bank, Alijarah Holding, Qatari Investors Group, Gulf International Services, Beema, Barwa and Mazaya Qatar were among the major movers in the main bourse. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week. The Qatari individuals’ net selling increased substantially to QR94.79mn compared to QR41.07mn the week ended March 28. The Gulf institutions were net profit takers to the tune of QR49mn against net buyers of QR5.79mn the previous week. The Arab institutions turned net sellers to the extent of QR0.03mn compared with no major net exposure a week ago. The Gulf individuals’ net buying weakened perceptibly to QR1.55mn against QR2.45mn the week ended March 28. The foreign retail investors’ net buying shrank marginally to QR11.84mn compared to QR12.18mn the previous week. The Arab individual investors’ net buying weakened marginally to QR0.6mn against QR1.11mn a week ago. However, the domestic funds’ net buying strengthened drastically to QR129.99mn compared to QR21.91mn the week ended March 28. The foreign institutions’ net profit booking declined noticeably to QR0.15mn against QR2.38mn the previous week. The main market witnessed 8% jump in trade volumes to 740.26mn shares, 4% in value to QR2.31bn and 11% in deals to 77,838 this week. In the venture market, trade volumes plunged 24% to 0.32mn equities, value by 22% to QR0.5mn and transactions by 16% to 51.

The foreign funds were seen bullish as the 20-stock Qatar Index gained 1.28% to 9,816.3 points, recovering from an intraday low of 9,726 points
Business
US rate cut hints lift QSE 124 points as foreign funds turn bullish

Optimism on potential US interest rate cuts substantially lifted sentiments on the Qatar Stock Exchange, which on Thursday gained as much as 124 points with industrials, real estate and.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[130236]**banking counters registering higher than average demand.The foreign funds were seen bullish as the 20-stock Qatar Index gained 1.28% to 9,816.3 points, recovering from an intraday low of 9,726 points.More than 69% of the traded constituents in the main market extended gains in the main market, whose year-to-date losses truncated to 9.37%.The Gulf institutions turned net buyers in the main bourse, whose capitalisation added QR6.38bn or 1.13% to QR569.64bn on account of large cap segments.The foreign individuals’ marginally higher net buying had its influence on the main market, which saw as many as 1,915 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR4,371 trade across one deal.The Arab retail investors continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen gaining faster than the other indices in the market, which saw no trading of treasury bills.The Total Return Index grew 1.28%, the All Share Index by 1.17% and the All Islamic Index by 1.34% in the main bourse, whose trade turnover and volumes were on the increase.The industrials sector index shot up 1.65%, realty (1.64%), banks and financial services (1.38%), consumer goods and services (0.46%), insurance (0.34%) and telecom (0.15%); while transport was down 0.07%.Main gainers in the main bourse included Industries Qatar, Masraf Al Rayan, Beema, Qamco, QNB, Al Faleh Educational Holding, Barwa, Qatar Islamic Bank, Lesha Bank, Mazaya Qatar and Milaha.In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Zad Holding, Nakilat, Al Meera, Dlala and Vodafone Qatar were among the shakers in the main bourse.The foreign institutions turned net buyers to the tune of QR52.28mn compared with net sellers of QR26.26mn on April 3.The Gulf institutions were net buyers to the extent of QR2.12mn against net profit takers of QR19.48mn the previous day.The foreign retail investors’ net buying increased marginally to QR3.24mn compared to QR3.21mn on Wednesday.However, the Qatari individuals turned net sellers to the tune of QR49.63mn against net buyers of QR30.17mn on April 3.The domestic institutions were net sellers to the extent of QR6.89mn compared with net buyers of QR8.57mn the previous day.The Gulf individual investors turned net sellers to the tune of QR1.66mn against net buyers of QR0.32mn on Wednesday.The Arab institutions were net profit takers to the extent of QR0.03mn compared with no major net exposure on April 3.The Arab retail investors’ net buying weakened noticeably to QR0.55mn against QR3.47mn the previous day.Trade volumes in the main market grew 32% to 191.85mn shares, value by 11% to QR549.14mn and deals by 1% to 19,231.The venture market saw a 50% plunge in trade volumes at 0.02mn equities and 57% in value to QR0.03mn but on 50% jump in transactions to 6.

The QSE
Business
US rate concerns weigh on QSE; foreign funds turn bearish

Reflecting the global apprehensions that the US Federal Reserve may delay lowering the interest rate, the Qatar Stock Exchange (QSE) on Wednesday fell 103 points and capitalisation eroded more than QR6bn.The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index tanked 1.05% to 9,691.93 points, the lowest in five months. The market had touched an intraday high of 9,840 points.The telecom, insurance, banks and transport counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 10.51%.The Gulf institutions were increasingly net profit takers in the main bourse, whose capitalisation eroded QR6.06bn or 1.06% to QR563.26bn on account of large and midcap segments.The foreign individuals’ weakened net buying had its influence on the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across eight deals.The Gulf retail investors’ lower net buying also had its say on the main bourse, which saw no trading of sovereign bonds.The Islamic stocks were seen declining slower than the other indices in the market, which saw no trading of treasury bills.The Total Return Index declined 1.05%, the All Share Index by 1.09% and the All Islamic Index by 0.86% in the main bourse, whose trade turnover and volumes were on the increase.The telecom sector index plummeted 3.89%, insurance (2.15%), banks and financial services (1.52%), transport (1.49%) and consumer goods and services (0.43%); while industrials rose 0.43%. The real estate index was rather unchanged.More than 69% of the traded constituents in the main bourse were in the red with major losers being Ooredoo, Mannai Corporation, Qatar Insurance, Mekdam Holding, Inma Holding, QNB, Qatar Islamic Bank, Commercial Bank, QIIB, Meeza, Mesaieed Petrochemical Holding, Vodafone Qatar, Milaha and Nakilat.In the venture market, Al Mahhar Holding saw its shares depreciate in value.Nevertheless, Industries Qatar, Gulf International Services, Qatar German Medical Devices, Qatari Investors Group and United Development Company were among the gainers in the main bourse.The foreign institutions’ net selling strengthened considerably to QR26.26mn compared to QR17.12mn on April 2.The Gulf institutions’ net profit booking increased marginally to QR19.48mn against QR18.14mn the previous day.The foreign retail investors’ net buying declined noticeably to QR3.21mn compared to QR7.86mn on Tuesday.The Gulf individual investors’ net buying eased marginally to QR0.32mn against QR0.36mn on April 2.However, the Qatari individuals’ net buying strengthened markedly to QR30.17mn compared to QR27.32mn the previous day.The domestic institutions’ net buying expanded substantially to QR8.57mn against QR0.63mn on Tuesday.The Arab individual investors were net buyers to the extent of QR3.47mn compared with net sellers of QR0.36mn on April 2.The Arab institutions had no major net exposure for the ninth straight session.Trade volumes in the main market grew 8% to 145mn shares, value by 18% to QR493.17mn and deals by 26% to 18,956.The venture market saw a 33% surge in trade volumes at 0.04mn equities, 75% in value to QR0.07mn and 33% in transactions to 4.

Yousuf Mohamed al-Jaida, QFC Authority chief executive officer.
Business
Qatar's non-energy private sector see improved business conditions; firms complete outstanding work at fastest rate in six months: QFC PMI

Qatar's non-energy private sector saw further improvement in business conditions in March with companies completing the outstanding work at the fastest rate in six months, even as cost pressures remained “stable”, according to the Qatar Financial Centre's purchasing managers index (PMI).Output, new orders, employment and purchasing activity all increased since February, and the 12-month outlook improved, according to the PMI survey data, compiled by S&P Global.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.The headline PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.The PMI registered 50.6 in March, down slightly from 51.0 in February. The latest figure remained above the no-change mark of 50.0 and thereby signalled a sustained improvement in business conditions in the non-energy private sector economy.The three largest components of the PMI – output, new orders and employment – all registered above 50.0 in March, indicative of month-on-month expansions. As has been the case for the past four months, shorter suppliers' delivery times and a reduction in input stocks both weighed slightly on the headline figure.“The PMI remained firmly in stable territory in March, reflecting further growth in output, new orders and employment in the Qatari non-energy economy. In the first quarter of 2024, the headline index has trended in line with the average for the fourth quarter of 2023, indicating sustained economic growth," said Yousuf Mohamed al-Jaida, QFC Authority chief executive officer.Demand for goods and services in Qatar's non-energy economy continued to expand in March, it said, adding firms linked growth to new customers, competitiveness and high-quality products."The rate of growth eased slightly, enabling a faster reduction in the volume of outstanding business," the PMI said."Looking ahead towards the next 12 months, companies were optimistic on growth in March. Overall sentiment was linked to new clients, development strategies and efforts to raise profitability," it said.Qatari firms continued to expand their workforces, extending the current sequence of growth to over a year. Purchases of inputs rose for the first time in three months, albeit only slightly, as firms continued to deplete inventories.Pressure on supply chains remained limited as lead times were shortened for the twenty-third successive month.Average input prices were broadly stable in March, with similar trends for both wages and purchase costs and output prices rose for the first time in five months at the fastest rate since February 2023, suggesting improved profitability at Qatari non-energy private sector firms at the end of the first quarter."The latest data also signalled improving profitability. Input costs were broadly flat over the month, but charges for Qatari goods and services rose the most in over a year, pointing to higher margins," al-Jaida said.Qatari financial services companies recorded further growth in volumes of total business activity and new contracts in March. The seasonally adjusted Financial Services Business Activity and New Business Indices posted 51.2 and 50.7 respectively.

The AFC Asian Cup continued to have its positive contribution to Qatar's hospitality sector, which saw considerable improvement in room yield this February, as the country recorded double-digit growth in visitor arrivals, according to the PSA. PICTURE: Thajudheen
Business
Qatar's hotels see improved room yield in February 2024; visitors arriving through road outpace those coming by flight: PSA

The AFC Asian Cup continued to have its positive contribution to Qatar's hospitality sector, which saw considerable improvement in room yield this February, as the country recorded double-digit growth in visitor arrivals, according to the Planning and Statistics Authority (PSA).The hotels' overall revenue-per-available-room surged on an annualised basis on increasing average room rate and occupancy. Four-star hotels as well as deluxe and standard hotel apartments saw higher than average room yield growth in the review period, according to PSA data.The robust yearly occupancy comes amidst visitor arrivals of 595,934 in February 2024. On a yearly basis, the total visitor arrivals shot up 53.1% in the review period.Visitors arriving by flight reported a 64.43% year-on-year jump to 284,771 (48% of total arrivals) in February 2024 and through land by 75.37% to 231,660 (39%); while those arriving through sea were down 5.29% to 79,503 (13%).The visitor arrivals from the Gulf Co-operation Council (GCC) were 252,760 or 42% of the total; followed by Europe 161,223 (27%), other Asia (including Oceania) 96,036 (16%), other Arab countries 49,250 (8%), the Americas 28,971 (5%), and other African countries 7,694 (1%) in February 2024.On an annualised basis, the visitor arrivals from other Arab countries soared 113.1%, the GCC by 72.9%, other African countries by 68.8%, other Asia (including Oceania) by 34.4%, Europe by 33.4% and the Americas by 26.2% in February 2024.On a month-on-month basis, the visitor arrivals to Qatar fell 15.2% with those coming from the GCC declining 31.7%, other African countries by 14.2%, other Asia (including Oceania) by 7.4%, the Americas by 7.4% and other Arab countries by 4.5%; while those from Europe shot up 17.5% in the review period.Qatar's hospitality sector saw an 83.4% year-on-year surge in rooms yield to QR453 in February 2024 as average room rate increased by 23.2% to QR531 and occupancy by 28% to 85%.The five-star hotels' room yield soared 73.81% year-on-year to QR584 as average room rate grew 18.91% to QR698 and occupancy by 27% in the review period.The four-star hotels room yield zoomed 106.02% on a yearly basis to QR274 as the average room rate shot up 32.92% to QR323 and occupancy by 30% to 85% in February 2024.The three-star hotels' room yield expanded by 78.62% on an annualised basis to QR259 this February as average room rate grew 47.87% to QR278 and occupancy by 16% to 93%.The two-star and one-star hotels' room yield increased by 60.14% year-on-year to QR221 as the average room rate rose 28.99% to QR218 and occupancy by 20% to 102% in February this year.The deluxe hotel apartments registered a 96.63% surge in room yield to QR409 with the average room rate escalating 20.93% to QR468 and occupancy by 34% to 88% in the review period.In the case of standard hotel apartments, room yield shot up 110.53% year-on-year to QR240 in February 2024 as the average room rate increased by 42.34% to QR316 and occupancy by 25% to 76%.

The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.71% to 9,794.48 points on Tuesday, although it touched an intraday high of 9,882 points
Business
Foreign and Gulf funds steer QSE to negative trajectory; M-cap melts QR2.91bn

The Qatar Stock Exchange (QSE) yesterday lost about 70 points on profit booking pressure, especially in the banks and financial services sector. .text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px; }@media only screen and (max-width: 767px) {.text-box {width: 30%;} } **media[130236]** The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.71% to 9,794.48 points, although it touched an intraday high of 9,882 points. The Gulf institutions were also increasingly bearish in the main market, whose year-to-date losses widened to 9.57%. The domestic institutions’ weakened net buying had its influence in the main bourse, whose capitalisation melted QR2.91bn or 0.51% to QR569.32bn with small and microcap segments leading the pack of gainers. The Arab retail investors were increasingly into net selling in the main market, which saw as many as 459 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1,217 trade across five deals. However, the local retail investors were seen bullish in the main bourse, which saw no trading of sovereign bonds and treasury bills. The Total Return Index declined 0.38% and the All Share Index by 0.36%, while the All Islamic Index was up 0.04% in the main bourse, whose trade turnover and volumes were on the decline. The banks and financial services sector index shrank 1.02%, transport (0.11%) ad telecom (0.07%); while real estate gained 0.93%, consumer goods and services (0.45%), industrials (0.4%) and insurance (0.32%). Major losers in the main bourse included Commercial Bank, Medicare Group, QIIB, Nakilat, Dukhan Bank, Qatar Electricity and Water and Ezdan. In the venture market, Al Mahhar Holding saw its shares depreciate in value. Nevertheless, more than 53% of the traded constituents extended gains with major movers being Qatari German Medical Devices, Qamco, Milaha, Barwa, QLM, Lesha Bank, Industries Qatar, Al Faleh Educational Holding, Gulf International Services, Mazaya Qatar and Gulf Warehousing were among the gainers in the main bourse. The Gulf institutions’ net profit booking increased noticeably to QR18.14mn compared to QR14.85mn on April 1. The foreign institutions’ net selling strengthened considerably to QR17.12mn against QR0.61mn the previous day. The Arab individual investors’ net selling grew marginally to QR0.36mn compared to QR0.02mn on Monday. The domestic institutions’ net buying declined substantially to QR0.63mn against QR121.93mn April 1. The Gulf individual investors’ net buying eased perceptibly to QR0.36mn compared to QR2.06mn the previous day. However, the Qatari individuals were net buyers to the tune of QR27.32mn against net sellers of QR105.7mn on Monday. The foreign retail investors turned net buyers to the extent of QR7.86mn compared with net sellers of QR2.81mn on April 1. The Arab institutions had no major net exposure for the eighth straight session. Trade volumes in the main market fell 8% to 134.29mn shares and value by 23% to QR417.67mn, while deals were up 2% to 14,986. The venture market saw flat trade volumes at 0.03mn equities but on 20% plunge in value to QR0.04mn and 50% in transactions to 3.

The positive momentum in Qatar's maritime sector is expected to continue in the light of 12-month optimistic outlook, especially for the country’s non-energy private sector, as indicated by the latest purchasing managers’ index of the Qatar Financial Centre
Business
Qatar ports register higher container volumes in Q1

Qatar's maritime sector witnessed brisk activities in the first quarter (Q1) of 2024 on an annualised basis on the back of higher container handling, vehicles (RORO), livestock and building materials through Hamad, Doha and Al Ruwais ports, according to the official estimates.The positive momentum in the maritime sector is expected to continue in the light of 12-month optimistic outlook, especially for the country’s non-energy private sector, as indicated by the latest purchasing managers’ index of the Qatar Financial Centre.The container handling through the three ports stood at 351,564 TEUs (twenty-foot equivalent units) in Q1-2024, surging 4.07% year-on-year. The containers handled was seen at the maximum in March at 136,851 TEUs.In March this year, Hamad Port registered a new volume of container moves for one ship, the MSC CLORINDA, at the equivalent of 10,400 TEUs with the crane productivity at 39.1 gross moves per hour and the vessel productivity at 173 gross moves per hour.Hamad Port – which features an intermodal transport network that offers direct and indirect shipping services to more than 100 destinations, facilitating efficient transportation and logistics services locally and abroad – saw a total of 136,501 TEUs in March 2024.The container terminals have been designed to address the increasing trade volume, enhancing ease of doing business as well as supporting the achievement of economic diversification, which is one of the most important goals of the Qatar National Vision 2030.Coinciding with Ramadan, the three ports were seen handling 221,125 livestock heads in January-March this year, showing a 46.26% surge year-on-year. The heaviest movement of livestock through three ports was reported in March at 118,569 units. Hamad Port alone handled 11,993 livestock heads in March 2024.The building materials traffic through the three ports amounted to 142,886 tonnes in the review period, which shot up 6.13% on a yearly basis. In March, as much as 52,242 tonnes of building materials were handled by ports.The three ports handled as many as 19,200 RORO in the first three months of 2024, registering a 4.46% increase on an annualised basis. In March this year, RORO movements was to the tune of 5,971 units, of which 5,936 was through Hamad Port.The number of ships calling on Qatar's three ports stood at 647 in January-March 2024, which saw a 2.56% decline compared to the previous year period. March 2024 saw the maximum number of ships berthed at 232, of which 126 was at the Hamad Port.The general cargo through three ports amounted to 367,350 tonnes in Q1-2024, plunging 40.52% on an annualised basis. Cargo handling in March this year stood at 139,097 tonnes.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock – was seen handling 123,134 freight tonnes (F/T) of breakbulk and 10,000 F/T of bulk in March this year.

The domestic institutions’ substantially strengthened net buying gave an impetus to  the 20-stock Qatar Index, which rose 0.18% to 9,864.41 points on Monday, recovering from an intraday low of 9,798 points
Business
Domestic funds’ strong buying lifts QSE sentiments as M-cap adds QR1.64bn

Reflecting the optimism in the global markets on upbeat Chinese manufacturing data, the Qatar Stock Exchange (QSE) on Monday gained more than 17 points after remaining under.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[130236]**bearish spell for the previous five sessions.The domestic institutions’ substantially strengthened net buying gave an impetus to the 20-stock Qatar Index, which rose 0.18% to 9,864.41 points, recovering from an intraday low of 9,798 points.The insurance, banks, industrials and real estate counters experienced higher than average demand in the main market, whose year-to-date losses truncated to 8.92%.As much as 64% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.64bn or 0.29% to QR572.23bn with small cap segments leading the pack of gainers.The Gulf retail investors were increasingly into net buying in the main market, which saw as many as 6,141 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn trade across five deals.The foreign institutions’ weakened net profit booking had its influence had its say in the main bourse, which saw no trading of sovereign bonds and treasury bills.The Total Return Index gained 0.47% and the All Share Index by 0.5%, while the All Islamic Index was down 0.09% in the main bourse, whose trade turnover and volumes were on the increase.The insurance sector index shot up 1.44%, banks and financial services (0.89%), industrials (0.85%), realty (0.45%) and consumer goods and services (0.24%); whereas transport and telecom declined 2.09% and 1% respectively.Major gainers in the main market included Qamco, Qatari German Medical Devices, Dlala, Mekdam Holding, Qatar Insurance, Qatar Islamic Bank, Commercial Bank, Lesha Bank, Industries Qatar, Estithmar Holding, Ezdan and Gulf Warehousing.Nevertheless, United Development Company, Milaha, Doha Insurance, QIIB, Zad Holding, Mesaieed Petrochemical Holding, Vodafone Qatar and Ooredoo were among the shakers in the main bourse. In the venture market, Al Mahhar Holding saw its shares depreciate in value.The domestic institutions’ net buying increased substantially to QR121.93mn compared to QR5.75mn on March 31.The Gulf individual investors’ net buying expanded perceptibly to QR2.06mn against QR0.46mn the previous day.The foreign funds’ net profit booking declined considerably to QR0.61mn compared to QR8.44mn on Sunday.The Arab individual investors’ net selling weakened markedly to QR0.02mn against QR2.5mn on March 31.However, the Qatari individuals were net sellers to the tune of QR105.7mn compared with net buyers of QR3.04mn the previous day.The Gulf institutions turned net profit takers to the extent of QR14.85mn against net buyers of QR1.34mn on Sunday.The foreign retail investors turned net sellers to the tune of QR2.81mn compared with net buyers of QR0.35mn on March 31.The Arab institutions had no major net exposure for the seventh straight session.Trade volumes in the main market grew 19% to 146.23mn shares, value by 82% to QR545.93mn and deals by 48% to 14,738.The venture market saw an 86% plunge in trade volumes to 0.03mn equities, 84% in value to QR0.05mn and 81% in transactions to 6.