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Friday, March 29, 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.
An across the board selling, particularly in the industrials, led the 20-stock Qatar Index tank 1.17% to 10,332.38 points Wednesday.
Business
Across the board selling drags QSE 122 points; M-cap melts QR5bn

Awaiting hints on interest rates from the major central bankers’ meet in Jackson Hole, the Qatar Stock Exchange (QSE) Wednesday plummeted more than 122 points 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[68487]**capitalisation eroded QR5bn.An across the board selling, particularly in the industrials, led the 20-stock Qatar Index tank 1.17% to 10,332.38 points.The local retail investors turned net profit takers in the main market, whose year-to-date losses widened to 3.26%.More than 65% of the traded constituents were in the red in the main bourse, which touched an intraday high of 10,459 points.However, the Gulf institutions were increasingly net buyers in the main market, whose capitalisation melted 0.88% to QR609.59bn with mid and small cap segments losing the most.The foreign funds were seen bullish in the main bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.17mn changed hands across 13 deals.The domestic institutions were increasingly net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index fell slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shrank 1.17%, All Share Index by 1.12% and Al Rayan Islamic Index (Price) by 1.06% in the main bourse, whose trade turnover and volumes were on the rise.The industrials sector index plummeted 1.66%, banks and financial services (1.15%), real estate (0.99%), telecom (0.91%), consume goods and services (0.76%), transport (0.36%) and insurance (0.36%).Major losers in the main bourse included Inma Holding, Beema, Industries Qatar, Salam International Investment, Qatar Islamic Insurance, QNB, Commercial Bank, Masraf Al Rayan, Qamco, Mazaya Qatar, Ezdan, Vodafone Qatar, Gulf Warehousing and Nakilat. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value.Nevertheless, Meeza, Dlala, Gulf International Services, Milaha and Mannai Corporation were among the gainers in the main market.The local retail investors turned net sellers to the tune of QR47.05mn against net buyers of QR2.32mn on August 22.However, the Gulf institutions’ net buying increased substantially to QR25.22mn compared to QR2.68mn on Tuesday.The foreign institutions were net buyers to the extent of QR9.03mn against net profit takers of QR6.33mn the previous day.The domestic institutions’ net buying strengthened noticeably to QR7.61mn compared to QR3.4mn on August 22.The foreign retail investors turned net buyers to the tune of QR1.97mn against net sellers of QR1.06mn on Tuesday.The Gulf individuals were net buyers to the extent of QR1.75mn compared with net sellers of QR1.58mn the previous day.The Arab individual investors’ net buying expanded perceptibly to QR1.39mn against QR0.07mn on August 22.The Arab institutions turned net buyers to the tune of QR0.08mn compared with no major net exposure for the previous three sessions.Trade volumes in the main market soared 42% to 179.47mn shares, value by 44% to QR482.3mn and deals by 77% to 25,120.The venture market saw a 13% surge in trade volumes to 0.23mn equities but on 7% decline in value to QR0.41mn amidst flat transactions at 58.

Sheikh Hamad bin Abdullah al-Thani, Meeza chairman and Ahmad Abdulla al-Muslemani, chief executive officer of Meeza jointly ring the customary bell to mark the advent of Meeza on the QSE’s trading ring. Also seen are QSE acting chief executive officer Abdulaziz Nasser al-Emadi and other dignitaries.  PICTURE: Thajudheen
Business
Meeza shares jump 6% on QSE debut; becomes 51st listed company

Meeza, the country's first initial public offering (IPO) through book-building route, yesterday saw its shares vault 6% on debut in an otherwise bearish Qatar Stock Exchange (QSE).With this addition, the main market of the QSE now has a total of 51 listed companies, further enhancing its dynamic landscape. The shares of Meeza, a Qatar Foundation joint venture, were listed with the symbol "MEZA" under the consumer goods and services sector.The opening price was QR2.22, and the closing was recorded at QR2.30; representing a market capitalisation of QR1.49bn. The highest price during the session was QR2.535, while the lowest price was QR2.22. Its shares had risen more than 10% intraday.The offering price has been set at QR2.17, consisting of a nominal value of QR1 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company."The successful listing of Meeza marks a significant milestone in our continuous efforts to expand the scope of our listing companies. Meeza's expertise in the technology sector makes it a valuable addition to our diverse portfolio of listed companies," QSE acting chief executive officer Abdulaziz Nasser al-Emadi said.A total of 40.67mn shares valued at QR98.79 changed hands across 6,306 deals. Meeza accounted for about 76.75%, 77.34% and 81.61% of the trade volume, value and transactions in the consumer goods and services sector."This unprecedented step in the managed end-to-end IT services sector will give the investment community a promising investment option to grow their wealth and contribute to Qatar’s digital economy industry," said Sheikh Hamad bin Abdullah al-Thani, Meeza chairman.On the first day of listing, the company's share price was floated. However, as of the second day, price limits will be set at a fluctuation range of 10% upwards and downwards, in line with other listed companies in the market."As we continue to prioritise the growth of the technology sector within our market, Meeza's listing reinforces our commitment to providing investors with a wide array of investment opportunities. This move not only enhances the choices available to investors but also contributes to the further development of our market ecosystem," al-Emadi said.The inclusion of Meeza in the listing companies will undoubtedly contribute to the diversification of investment choices and the deepening of the market's strength, according to him.Ahmad Abdulla al-Muslemani, chief executive officer of Meeza, said its transformation to a publicly listed entity provides an opportunity for the investors to take part in the company’s journey and achievements, as it looks to continue its strong financial performance and revenue growth."This milestone will provide a great opportunity for us to bolster the Company’s already strong capital by increasing its shareholder base, which will support its ambitious growth and development targets," he said.The Meeza IPO was conducted through the 'book building' mechanism, which is used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.

Gulf Times
Business
Voluntary carbon market a long term solution for Mena: Nasdaq

Establishing voluntary carbon markets (VCMs) could further help incentivise businesses in the Middle East and North Africa (Mena) to think long term, as the region is an ideal staging ground for the growth and maturation of carbon markets, according to Nasdaq."The development and growth of sophisticated capital markets in Mena over the past 20 years means that the region is well-placed to support decarbonisation through channelling capital to carbon projects/initiatives," Nasdaq said in a white paper.Stressing that the opportunity is evident, and the region has made progress toward capitalising on VCM, it highlighted the Egyptian Exchange’s launch of a VCM as part of the COP27 summit.The exchange, which has recently worked with Qatar’s Global Carbon Council to list verified carbon credits, provides issuing Egyptian companies a link to both local and global investors.The objective is to spur investment in climate-mitigation projects, while also improving credit quality, market access and transparency.Capital markets in Mena have evolved greatly, becoming more sophisticated, resilient and reliable. However, various structural obstacles present a challenge to carbon credits growing and maturing as an asset class, according to the report."Overcoming these roadblocks will require stakeholders in the region to work in concert to solve problems at a root level and lay the building blocks for long-term growth," it said.As an area susceptible to climate change impacts, it said the Mena region is an ideal staging ground for the growth and maturation of carbon markets.Entities across the Mena capital markets spectrum must tackle the lack of awareness, standardisation, transparency and regulatory alignment before they can open the door to capital flows and meaningful climate change mitigation, it said."Building a strong infrastructure for developing, verifying, trading, registering and retiring these assets will be essential to those efforts and the realisation of benefits by countries, participants and populaces," the paper said.Opportunities are abound for climate action and investment — but to unlock those benefits, voluntary carbon markets need dependable infrastructure to drive market efficiency, transparency and integrity, it said, adding carbon credits are on the way to becoming an institutionalised financial asset.First introduced as part of the United Nations’ 1997 Kyoto Agreement, they were created to leverage market dynamics in controlling and reducing greenhouse gas emissions. Today, carbon credits are in wide use.Yet to make the next step towards becoming a fully-fledged asset class, market infrastructure needs to be improved and standardised to support better efficiency, transparency and access for all participants, according to the white paper.

Gulf Times
Business
Meeza starts trading Wednesday on QSE

Meeza, an established end-to-end Managed IT services and solutions provider based in Qatar, will Wednesday start trading on the Qatar Stock Exchange's (QSE) main market.This follows the approvals obtained from the Qatar Financial Markets Authority (QFMA) and the QSE's board, as well as the completion of all necessary technical, regulatory, and administrative procedures.With the listing of Meeza, the total number of companies listed on the QSE main market will increase to 51.The shares of Meeza will be listed with the symbol "MEZA" in QSE main market under the consumer goods and services sector.The offering price has been set at QR2.17, consisting of a nominal value of QR1 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company.On the first day of listing, the company’s price will be floated, and from the second day, it will be allowed to fluctuate by 10% up or down, similar to other listed entities in the market.All 648.89mn shares of Meeza will be listed, representing 100% of the total capital of the company.There will be no change in the trading session timing on the first day of listing, and the pre-open phase will commence at the usual time of 9:00am.As many as 324.49mn shares were offered for subscription, representing 50% of the total capital. Some 121.39mn shares were offered for qualified investors who participated in the book-building process, representing 18.71% of the capital, and 203.1mn shares for Qatari individual and corporate investors, representing 31.29% of the company's capital.The founders will retain the remaining percentage of the shares, which amounts to 324.49mn shares, representing 50% of the total capital of the company.The offering of Meeza shares was conducted through the 'book building' mechanism, which was used for the first time in Qatar.The book building mechanism, used in many global and regional markets, determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.

The Gulf individuals were seen net sellers as the 20-stock Qatar Index settled mere 0.05% lower at 10,454.75 points Tuesday.
Business
QSE edges down marginally on selling pressure in realty, consumer goods and transport counters

The Qatar Stock Exchange edged down marginally on the back of selling pressure, especially in the real estate and consumer goods sectors, a day after it lost heavily on global.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[68487]**concerns about China’s smaller cut in rates.The Gulf individuals were seen net sellers as the 20-stock Qatar Index settled mere 0.05% lower at 10,454.75 points.More than 55% of the traded constituents were in the red in the main market, whose year-to-date losses widened to 2.12%.The foreign retail investors were seen net profit takers in the main bourse, which was on a rollercoaster ride for most part of the session with the index touching an intraday high of 10,533 points.The domestic institutions’ weakened net buying interests had its influence in the main market, whose capitalisation was down QR0.39bn or 0.06% to QR615.03bn with microcap segments losing the most.The local retail investors’ lower net buying also had its say in the main bourse, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn changed hands across five deals.The foreign funds continued to be net sellers but with lesser vigour in the main market, which saw no trading of sovereign bonds.The Islamic index made gains vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index was down 0.05% and All Share Index by 0.02%, while Al Rayan Islamic Index (Price) was up 0.03% in the main bourse, whose trade turnover and volumes were on the decline.The real estate sector index declined 0.8%, consumer goods and services (0.34%), transport (0.12%) and banks and financial services (0.04%); whereas telecom gained 0.71%, insurance (0.43%) and industrials (0.08%).Major losers in the main market included Widam Food, Inma Holding, Medicare Group, Ezdan, Salam International Investment, Qatari German Medical Devices, Al Meera and Mazaya Qatar. In the junior bourse, Mahhar Holding saw its shares depreciate in value.Nevertheless, Qatar National Cement, Doha Insurance, Estithmar Holding, Mekdam Holding and Mesaieed Petrochemical Holding were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The Gulf individuals were net sellers to the extent of QR1.58mn compared with net buyers of QR1.48mn on August 21.The foreign retail investors turned net sellers to the tune of QR1.06mn against net buyers of QR3.34mn on Monday.The domestic institutions’ net buying decreased significantly to QR3.4mn compared to QR18.91mn the previous day.The local retail investors’ net buying weakened noticeably to QR2.32mn against QR5.27mn on August 21.However, the Gulf institutions were net buyers to the extent of QR2.68mn compared with net sellers of QR2.54mn on Monday.The Arab individual investors turned net buyers to the tune of QR0.07mn against net sellers of QR4.74mn the previous day.The foreign institutions’ net profit booking decreased substantially to QR6.33mn compared to QR21.72mn on August 21.The Arab institutions had no major net exposure for the third straight session.Trade volumes in the main market tanked 18% to 126.58mn shares, value by 23% to QR334.67mn and deals by 25% to 14,160.The venture market saw an 87% contraction in trade volumes to 0.2mn equities, 88% in value to QR0.44mn and 83% in transactions to 58.

Gulf Times
Business
QSE launches covered short selling, securities lending and borrowing

The Qatar Stock Exchange (QSE) has launched covered short selling as well as securities lending and borrowing (SLB) activities, as part of its reforms to make the market more liquid and attractive for the investors, especially foreign.The move, which indicates the imminent launch of derivatives, is also aimed at achieving 'developed' market status for the QSE from the present 'emerging' tag.The covered short selling will be allowed solely for market makers, liquidity providers, and qualified investors, including members, and any other cases approved by the Qatar Financial Market Authority or QFMA.The SLB transactions will be executed in the post-trading system of the Edaa (formerly Qatar Central Securities Depository) by its members or custodians licensed by the QFMA to conduct this activity under the designation "Securities Lending & Borrowing Agents."The roles and responsibilities of these agents have been defined under Article (3) of the SLB rules issued by the QFMA.SLB would aid in enhancing the liquidity in the capital market, which in turn would ensure reduced cost of capital and better valuations, market sources said.Abdulaziz Nasser al-Emadi, the acting chief executive officer of QSE, highlighted the significance of launching this initiative and its role in enhancing market liquidity and introducing new investment tools that will offer investors improved options for optimal investment in the market."Such initiatives are essential for launching the derivatives market and adopting the tradable investment instruments," he said, adding the availability of these tools, alongside other instruments, would contribute primarily to upgrading the Qatari market to advanced status.The covered short selling rules stipulate that transactions can only be executed at a price higher than the last traded price for the same security, where the 'Uptick Rule' will apply to all traders. Brokers will be responsible for ensuring that the covered short selling order is entered into the trading system at a price at least one point higher than the last traded price for that security.Most short selling is done by hedge funds and institutional investors to cushion their positions against falling stock prices.The covered short selling rules aim to enable investors to use different investment strategies in line with the best practices in the financial markets, according to market experts.In September last year, the QFMA had issued rules relating to the covered short selling and SLB in a bid to increase liquidity and volumes as well as expand the investment instruments for the investors.This contributes to increasing trading volumes and liquidity in the market, maximising the returns of stakeholders in the Qatari capital market, as well as broaden the scope of borrowing securities for various purposes.In its Capital Market Report 2020, the Qatar Financial Centre had suggested creating a derivatives market, initially offering single-stock futures contracts, as part of the key recommendations for the country’s capital market development.A derivatives market would add to the breadth of Qatar's capital market, offering investors risk management tool to hedge their investments and business exposure.

Gulf Times
Business
MEEZA to expand data centre capacity in next two-to-three years

MEEZA, which now has a total supply capacity of 24.4MW (megawatts) from operating five data centres, is planning to expand its capacity by 19.5MW over the next two to three years to meet the growing demand in Qatar.The company, which will Wednesday start trading on the Qatar Stock Exchange, is currently the market leader with about 50% market share based on Qatar estimated supply capacity.In the data centre industry, MWs are reserved for wholesale colocation customers that require enough power for thousands of servers and related IT hardware.MEEZA’s demand for data centre-related services is mainly driven by colocation and hosting services as well as IaaS (infrastructure as a service).According to a recent market study commissioned by MEEZA, the demand for colocation and hosting is expected to rise from $129mn in 2022 to $163mn in 2026, while demand for IaaS is expected to significantly grow from $71mn in 2022 to $279mn in 2026, indicating a huge growth potential for MEEZA over the next few years that can be serviced with an adequate expansion in capacity.Out of the total ICT market, the data centre market in Qatar accounts for about 0.12% of the global data centre market in 2022. In line with the current global market trends, the demand for data centres in Qatar is expected to grow by 13.3% per annum from 40 megawatts (MW) in 2022 to 66MW in 2026.Furthermore, total spending demand for Qatar on data centre systems and data centre IT-related services is expected to steadily rise from $0.86bn in 2022 to $1.28bn in 2026.This growth in demand for data centres is expected to be mainly driven by digital business process as a service (BPaaS), data centre services, desktop as a service (DaaS), data centre systems support, infrastructure as a service (IaaS), and application managed services.Additionally, cybersecurity is also poised to follow the same growth dynamic, with total demand for cyber security service in Qatar forecasted to grow by 10.6% per annum from $347mn in 2022 to $520mn in 2026.The Qatari data centre space currently features three ICT (information, communication and technology) companies whose data centre colocation capacity is commercially available to third parties as part of their core business. Besides MEEZA, other ICT entities operating data centres in Qatar are Ooredoo and Mannai ICT.Ooredoo operates five data centres covering a total space of 60,000sq ft and its total supply capacity is estimated to be 22MW (46% market share based on Qatar estimated supply capacity, on par with MEEZA), the MEEZA prospectus filed with the QSE said.Mannai ICT – an integrated end-to-end solutions IT company in Qatar providing, among others, servers and storage services, peripheral IT hardware services and integrated IT solutions – currently operates one data centre with an estimated supply capacity of 2MW (4% market share based on Qatar estimated supply capacity).As per the latest Ministry of Communications data, ICT currently contributes to 1.9% of Qatar’s total gross domestic product. Investments in the digital landscape, particularly cloud computing, are at an all-time high as part of efforts to implement Qatar’s digital transformation agenda and construct a knowledge-based economy.

From left: Al-Khulaifi, Sheikh Khalifa and al-Ansari outline the schedule of Made in Qatar 2023. PICTURE: Thajudheen
Business
‘Made in Qatar expo to hit east Africa’: Qatar Chamber chairman

The country's famed industrial expo 'Made in Qatar' is all set to cross the Gulf Co-operation Council or GCC region to probably east Africa, as part of Qatar Chamber's efforts to better and effectively showcase Doha's manufacturing finesse before the global audience."It could be in Iraq or in country within the eastern African region," Qatar Chamber (QC) chairman Sheikh Khalifa bin Jassim al-Thani told Monday at a media meet convened to announce the schedule of the ninth Made in Qatar exhibition.The expo, which is being organised by the QC, in co-operation with the Ministry of Commerce and Industry (MoCI), will be held here from November 29 to December 2.In support of the QC's move to hold Made in Qatar outside the Gulf region; Sheikh Khalifa said the expo primarily aims at strengthening the national industry sector, support the state’s endeavours for industrial development, promoting the Qatari products both domestically and internationally, and encouraging the utilisation of Qatari-made products, and inspiring investors to increase investment in industrial projects and enhancing the partnership between the public and private sectors.About the expo to be held in Doha Exhibition and Convention Center, the exhibition serves as a large platform that brings together Qatari industries and products, aimed at bolstering the Qatari industry and promoting the local product, boosting co-operation among the Qatari businessman and domestic companies, and facilitating discussions on potential partnerships and alliances that can contribute to the advancement of the local industry.This year’s edition follows the success Qatar achieved in hosting the 2022 FIFA World Cup, he said, underscoring that the Qatari industry achieved remarkable development and success in recent years."These factors have bolstered the competitiveness and quality of the Qatari product, facilitating its penetration into global markets," Sheikh Khalifa said.The exhibition is expected to feature more than 450 Qatari industrial companies across six sectors, encompassing furniture, food, petrochemicals, services, SMEs, and various industries.The event would also see the participation of over 100 productive families to showcase their products in collaboration with the Ministry of Social Development and Family.Saleh bin Majed al-Khulaifi, Assistant Undersecretary for Commerce Affairs at the Ministry ofCommerce and Industry, reassured the ministry's initiatives in supporting exporters and increasing the Qatari exports.He emphasised on the collective efforts in fostering a conducive business environment and motivating companies to establish value-added projects that contribute to the national economy.He also underlined the significance of enhancing the competitiveness of the private sector for enabling the country's manufactured products, which hold economic advantages, to effectively compete both domestically and on the international stage.Abdulrahman al-Ansari, a QC board member and chairperson of the exhibition’s technical committee, said the state has built an advanced infrastructure, which will provide the private sector with opportunities for active contribution to the growth of the domestic production.

The foreign institutions were increasingly net sellers as the 20-stock Qatar Index tanked 1.11% to 10,459.78 points yesterday
Business
QSE plunges 117 points in index and QR6bn in capitalisation on global concerns

Reflecting the global concerns on China's smaller cut in rates, the Qatar Stock Exchange (QSE) Monday plunged 117 points on the back of selling pressure, especially in the.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[68162]**banks.The foreign institutions were increasingly net sellers as the 20-stock Qatar Index tanked 1.11% to 10,459.78 points.About 73% of the traded constituents were in the red in the main market, whose year-to-date losses widened to 2.07%.The Arab individuals were increasingly net profit takers in the main bourse, which saw the index touch an intraday high of 10,648 points.The Gulf institutions were seen bearish in the main market, whose capitalisation eroded QR6.04bn or 0.97% to QR615.42bn with small and midcap segments losing the most.The domestic funds’ weakened net buying had its influence in dampening the sentiments in the main bourse, which saw a total of 7,648 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.06mn changed hands across four deals.However, the local and foreign individuals were seen bullish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index fell 1.11%, All Share Index by 0.97% and Al Rayan Islamic Index (Price) by 1.21% in the main bourse, whose trade turnover and volumes were on the rise.The banks and financial services sector index shot up 1.26%, industrials (0.99%), consumer goods and services (0.91%, transport (0.64%), realty (0.64%) and telecom (0.12%); while insurance gained 0.82%.Major losers in the main market included Qatar National Cement, Qatari German Medical Devices, Ezdan, Masraf Al Rayan, Mazaya Qatar, Alijarah Holding, Qatar Islamic Bank, Salam International Investment, Mannai Corporation, Baladna, Qatar Industrial Manufacturing, Gulf International Services, Mesaieed Petrochemical Holding, Estithmar Holding, Qamco and Milaha. In the junior bourse, Mahhar Holding saw its shares depreciate in value.Nevertheless, Zad Holding, Qatar Oman Investment, Qatar Insurance, Mekdam Holding and Ahlibank Qatar were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The foreign institutions’ net selling increased substantially to QR21.72mn compared to QR9.97mn on August 20.The Arab individual investors’ net selling expanded noticeably to QR4.74mn against QR2.36mn the previous day.The Gulf institutions turned net sellers to the tune of QR2.54mn compared with net buyers of QR5.41mn on Sunday.The domestic institutions’ net buying decreased significantly to QR18.91mn against QR34.8mn on August 20.However, the local individuals were net buyers to the extent of QR5.27mn compared with net sellers of QR23.44mn the previous day.The foreign retail investors turned net buyers to the tune of QR3.34mn against net profit takers of QR2.2mn on Sunday.The Gulf individuals were net buyers to the extent of QR1.48mn compared with sellers of QR2.24mn on August 20.The Arab institutions had no major net exposure for the third straight session.Trade volumes in the main market were up 9% to 153.51mn shares, value by 33% to QR432.15mn and deals by 78% to 18,875.The venture market saw a 25% contraction in trade volumes to 1.57mn equities and 33% in value to QR3.65mn but on flat transactions at 332.

Gulf Times
Business
QSE closes in positive zone as domestic funds’ net buying strengthens

The Qatar Stock Exchange Sunday opened the week on a stronger note, albeit at lower levels, on the back of buying interests, especially in the telecom and insurance.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[67723]**sectors. The domestic funds were seen increasingly into net buying as the 20-stock Qatar Index gained more than five points or 0.05% to 10,576.82 points.The foreign institutions’ weakened net selling had its influence in the main market, whose year-to-date losses truncated to 0.98%.The Arab individuals’ lower net profit booking was also visible in the main bourse, which saw the index touch an intraday high of 10,620 points.The Gulf institutions continued to be net buyers but with lesser intensity in the main market, whose capitalisation however gained QR0.12bn or 0.02% to QR621.46bn with microcap segments gaining the most.The local retail investors turned bearish in the main bourse, which saw a total of 9,235 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn changed hands across three deals.The Gulf individuals were net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index was up 0.05% and All Share Index by 0.02%, while Al Rayan Islamic Index (Price) fell 0.14% in the main bourse, whose trade turnover fell amidst higher volumes.The telecom sector index shot up 1.05%, insurance (0.88%), banks and financial services (0.11%) and consumer goods and services (0.02%); while real estate shed 1.06%, transport (0.74%) and industrials (0.13%).Major gainers in the main market included Beema, Widam Food, Inma Holding, Qatar Islamic Insurance, Qatari German Medical Devices, Commercial Bank, QIIB, Qatar Insurance and Ooredoo.Nevertheless, Al Khaleej Takaful, Alijarah Holding, Dlala, Masraf Al Rayan, Mazaya Qatar, Medicare Group, Qatari Investors Group, Gulf International Services, Qamco and United Development Company were among the losers in the main bourse. In the venture market, Mahhar Holding saw its shares depreciate in value.The domestic institutions’ net buying increased significantly to QR34.8mn compared to QR2.62mn on August 17.The foreign funds’ net selling declined substantially to QR9.97mn against QR27.01mn the previous trading day.The Arab individual investors’ net selling eased perceptibly to QR2.36mn compared to QR4.34mn last Thursday.However, the local retail investors turned net sellers to the tune of QR23.44mn against net buyers of QR7.65mn on August 17.The Gulf individuals were net sellers to the extent of QR2.24mn compared with net buyers of QR0.89mn the previous trading day.The foreign retail investors’ net profit booking strengthened markedly to QR2.2mn against QR0.08mn last Thursday.The Gulf institutions’ net buying weakened considerably to QR5.41mn compared to QR20.27mn on August 17.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market were up 4% to 140.57mn shares, while value shrank 25% to QR325.25mn and deals by 38 to 10,623.The venture market saw a 43% contraction in trade volumes to 2.09mn equities, 35% in value to QR5.39mn and 48% in transactions to 332.

QFZ Authority (QFZ) chief executive officer Sheikh Mohamed H. F. al-Thani
Qatar
QFZs house 400 firms; create 6,000 jobs

The Qatar Free Zones (QFZs) have housed 400 firms to date, with 1mn sqm of land leased, representing more than $3bn in total investment and creating more than 6,000 jobs, its top official has said.In an interview to fDi Intelligence of Financial Times, QFZ Authority (QFZ) chief executive officer Sheikh Mohamed H. F. al-Thani said it is particularly focused on seven strategic sectors as emerging technologies, logistics and trading, food and agritech, industrial and consumer, aerospace and defence, biomedical sciences, and maritime development."These strategic sectors afford us many synergies, as we’re able to support individual companies including Google Cloud, Microsoft, Thales, DHL, Volkswagen and Gaussin, among many others, to achieve their goals, while developing new frontiers for priority sectors in Qatar," he said.He highlighted the longstanding partnership with Google Cloud and the launch of the Google Cloud region in Doha, which aims to support Qatar’s efforts in becoming a digital economy and providing opportunities for other investors in Qatari free zones and across the country.Research conducted by Access Partnership revealed that this ambitious project is expected to drive increased economic activity and contribute $18.9bn in higher gross economic output to Qatar’s economy by 2030.Stressing that each one of the Gulf Cooperation Council countries has something unique to offer investors; Sheikh Mohamed said that’s why it doesn’t view itself as in competition with the neighbours; rather complement each other."That said, we are the right choice for those who are looking for the specific advantages Qatar and QFZ offer: a combination of unparalleled logistics and educational infrastructure, a multicultural environment, vast natural gas reserves, a seamless regulatory experience, grand-scale projects and connectivity to global markets by air, sea and land," according to him.Stressing on its commitment to sustainability, and the ways through which it supported both investors and the country in driving sustainability initiatives, he cited the production of the first electric vehicles in Qatar at the zones, as part of a partnership between zero-emission company Gaussin and QFZA.These vehicles are now in operation at Hamad International Airport and Hamad Port, helping to reduce carbon emissions and accelerate Qatar’s national ambition for electric vehicle adoption in the public transport network and wider mobility sector, he said.Qatar has two free zones up and running. Ras Bufontas (4 sqkm), is connected to Hamad International Airport; and the Umm Al Houl free zone (32 sqkm), which sits next to Hamad Port.

Gulf Times
Business
Global concerns weigh on QSE as index tanks 164 points; M-cap erodes QR9bn

Reflecting the global concerns on the US rate hike and sluggish economic recovery in China, the Qatar Stock Exchange (QSE) saw its key index lose as much as 164 points 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[66993]**market capitalisation erode QR9bn this week.The foreign institutions were seen increasingly into net profit booking as the 20-stock Qatar Index tanked 1.53% this week which saw the listed companies report a total net profit of QR24.55bn in the first half (H1) of this year.The transport and banking counters witnessed higher than average selling pressure in the main bourse this week which saw Woqod extend its petroleum products’ sale and purchase agreement with the country’s hydrocarbon bellwether QatarEnergy.As much as 60% of the traded constituents were in the red in the main market this week which saw Estithmar Holding’s subsidiary Elegancia Healthcare establish a branch in Iraq.The domestic funds turned net sellers in the main bourse this week which saw the bourse announcement that Meeza will start trading from next week.The Islamic index was seen declining slower than the other indices this week which saw Qatar’s consumer price index inflation surge 3.11% year-on-year in July 2023.The local retail investors were seen bearish in the main market this week which saw Gulf International Services’ net profit at QR281mn in H1-2023.The Arab institutions turned net profit takers, albeit at lower levels, in the main bourse this week which saw Qatar Insurance Company’s H1-2023 net profit at QR325mn.The Gulf individuals were net sellers in the main market this week which saw a total of 0.05mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.11mn trade across 16 deals.The Arab retail investors continued to be net profit takers but with lesser vigour in the main bourse this week which saw as many as 0.07mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.72mn change hands across 42 transactions.Market capitalisation melted QR8.87bn or 1.41% to QR621.34bn on the back of large and midcap segments this week which saw the banks and industrials sectors together constitute more than 66% of the total trade volume in the main market.The Total Return Index shed 1.53%, the All Share Index by 1.3% and the All Islamic Index by 1.18% this week, which saw no trading of sovereign bonds.The transport sector index plummeted 1.77%, banks and financial services (1.76%), industrials (1.4%), telecom (1.14%) and consumer goods and services (0.72%); while insurance shot up 4.09% and real estate (0.03%) this week which saw no trading of treasury bills.Major losers in the main market included Inma Holding, Mannai Corporation, Beema, Industries Qatar, QNB, Commercial Bank, QIIB, Masraf Al Rayan, Alijarah Holding, Widam Food, Estithmar Holding, Mazaya Qatar, Ooredoo, Nakilat and Gulf Warehousing. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.Nevertheless, Gulf International Services, Al Khaleej Takaful, Dlala, Qatar Insurance, QLM, Mekdam Holding, Qatar Industrial Manufacturing, Qamco and QLM were among the gainers. In the venture market, Mahhar Holding saw its shares appreciate in value this week.The foreign funds’ net selling increased considerably to QR39.41mn compared to QR25.24mn the week ended August 10.The domestic institutions turned net sellers to the tune of QR21.59mn against net buyers of QR30.27mn the previous week.The local retail investors were net sellers to the extent of QR5.74mn compared with net buyers of QR8.19mn a week ago.The Arab funds turned net profit takers to the tune of QR0.13mn against no major net exposure the week ended August 10.The Gulf individuals were net sellers to the extent of QR0.1mn compared with net buyers of QR2.24mn the previous week.However, the Gulf institutions’ net buying strengthened substantially to QR53.13mn against QR4.97mn a week ago.The foreign individuals turned net buyers to the tune of QR16.04mn compared with net sellers of QR2.33mn the week ended August 10.The Arab retail investors’ net profit booking weakened markedly to QR2.2mn against QR18.09mn the previous week.The main market witnessed a 10% jump in trade volumes to 717.81mn shares, 9% in value to QR1.91bn and 8% in deals to 76,405 this week.In the venture market, trade volumes almost doubled to 8.71mn equities and value more than doubled to QR19.28mn on 86% surge in transactions to 1,650.

The Group Securities, QNB Financial Services and Commercial Bank Financial Services together accounted for about 85% of the share trade turnover of the brokerages in the Qatar Stock Exchange during the first seven months of this year
Business
The Group Securities sees improved share in trade turnover in July 2023

The Group Securities, QNB Financial Services and Commercial Bank Financial Services together accounted for about 85% of the share trade turnover of the brokerages in the Qatar Stock Exchange during the first seven months of this year.The QNB and Commercial Bank's brokerage subsidiaries saw their share trade turnover improve year-on-year during January-July 2023, according to the Qatar Stock Exchange data.The Group Securities’ share stood at 39.43% in January-July 2023 compared to 37.93% the previous year period. Its trading turnover tanked 28.22% year-on-year to QR58.26bn. The transactions through it expanded 7.34% on an annualised basis to 1.9mn even as volumes fell 14.73% to 29.53mn shares at the end of July 31, 2023.The QNB subsidiary QNBFS' trade turnover amounted to QR47.33bn, which constituted 32.03% of the total traded value during January-July 2023 against 32.16% a year-ago period. The turnover shrank 31.21% year-on-year as volumes fell 1.81% to 9.23mn equities and transactions by 10.06% to 1.61mn in the review period.The Commercial Bank Financial Services accounted for 13.39% of trade turnover compared to 12.43% during January-July 2023. The brokerage house's trade turnover tanked 25.6% year-on-year to QR19.79bn as volumes lost 8.73% to 5.23mn stocks, even as deals shot up 22.73% to 0.71mn in the review period.The Commercial Bank Financial Services was the first bank brokerage in the country to launch margin trading product.The Qatar Financial Market Authority had approved the Group Securities and Commercial Bank Financial Services as liquidity providers, while saying other licenses are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms.Qatar Securities accounted for 7.02% of trade turnover during January-July 2023 compared to 7.41% the previous year period. The brokerage's trading turnover dipped 3.22% year-on-year to QR10.37bn as volumes fell 11.45% to 2.32mn shares and transactions by 6.67% to 0.28mn at the end of July 2023.Wasata Financial Securities' share was 3.63% of trading turnover during January-July 2023 compared to 4.05% in the comparable period of 2022. Its trade turnover plummeted 38.06% year-on-year to QR5.37bn as volumes tanked 21.88% to 2mn equities but deals soared 30.77% to 0.17mn at the end of July 31, 2023.Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 3.27% of trade turnover (QR4.83bn), which plunged 42.84% year-on-year. The brokerage’s share was 3.95% the previous year period. The deals through it shrank 12.5% on a yearly basis to 0.14mn and volumes by 25.72% to 2.05mn stocks at the end of July 2023.Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover tank 58.6% on an annualised basis to QR1.83bn, cornering a market share of 1.24% during the first seven months of 2023 compared to 2.07% a year ago period. The volumes handled by the banking subsidiary declined 46.99% to 0.44mn shares and deals through it by 44.44% to 0.05mn during the review period.

The Qatar Stock Exchange yesterday lost more than 92 points and its key index fell below 10,600 levels, on the back of selling pressure, especially in the banks and financial services counter
Business
Foreign funds’ net selling pressure drags QSE below 10,600 levels

The Qatar Stock Exchange on Thursday lost more than 92 points and its key index fell below 10,600 levels, on the back of selling pressure, especially in the banks and financial services counter.The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.86% to 10,571.63 points. The market has been on a slippery path for the fourth consecutive session.The Arab retail investors were increasingly net sellers in the main market, which reported higher year-to-date losses of 1.02%.The foreign individuals turned net bearish in the main bourse, which saw the index touch an intraday high of 10,703 points.About 73% of the traded constituents were in the red in the main market, whose capitalisation melted QR5.21bn or 0.83% to QR621.34bn with large and midcap segments losing the most.The Gulf individuals’ weakened net buying interests had its influence in the main bourse, which saw a total of 7,069 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.07mn changed hands across six deals.The local retail investors’ net buying also slackened in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shed 0.86%, Al Rayan Islamic Index (Price) by 0.63% and All Share Index by 0.84% in the main bourse, whose trade turnover and volumes were on the rise.The banks and financial services sector index declined 1.15%, telecom (0.69%), industrials (0.68%), transport (0.49%), consumer goods and services (0.42%) and realty (0.28%); while insurance gained 0.34%.Major losers in the main market included Beema, Commercial Bank, Alkhaleej Takaful, Alijarah Holding, QNB, Masraf Al Rayan, Qatari German Medical Devices, Industries Qatar, Aamal Company, Qatari Investors Group, Estithmar Holding, Qamco, Ooredoo, Mazaya Qatar and Gulf Warehousing.Nevertheless, Dlala, Mekdam Holding, Gulf International Services, Qatar Insurance and Vodafone Qatar were among the gainers in the main bourse. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares appreciate in value.The foreign funds turned net sellers to the tune of QR27.01mn compared with net buyers of QR17.12mn on August 16.The Arab individual investors’ net selling increased perceptibly to QR4.34mn against QR2.94mn the previous day.The foreign individuals were net sellers to the extent of QR0.08mn compared with net buyers of QR0.51mn on Wednesday.The local retail investors’ net buying weakened noticeably to QR7.65mn against QR8.76mn on August 16.The Gulf individual investors’ net buying eased marginally to QR0.89mn compared to QR1.14mn the previous day.However, the Gulf institutions’ net buying strengthened significantly to QR20.27mn against QR0.92mn on Wednesday.The domestic funds turned net buyers to the tune of QR2.62mn compared with net sellers of QR25.4mn on August 16.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.13mn the previous day.Trade volumes in the main market were up 1% to 134.82mn shares, value by 5% to QR433.08mn and deals by 7% to 17,155.The venture market saw trade volumes more than double to 3.66mn equities and value more than double to QR8.32mn on more than doubled transactions to 641.

Gulf Times
Business
Qatar's CPI inflation rises 3.11% year-on-year in July: PSA

Qatar's inflation, based on consumer price index (CPI), rose 3.11% in July 2023 on an annualised basis, mainly due to communication, entertainment, housing and education sectors, according to official data.The country's CPI inflation was higher by 0.37% month-on-month this July, according to the figures released by the Planning and Statistics Authority (PSA).The International Monetary Fund forecasts that inflation in Qatar would average 2.1% in 2023-27. The country's CPI inflation is expected to average to 3% this year, which is below 9.9% projected in the Arab world and 3.3% in the Gulf Co-operation Council region, according to Kamco Invest.Qatar's core inflation (excluding housing and utilities) rose 2.77% and 0.62% year-on-year and month-on-month respectively during the review period.Communication, which carries a 5.2% weight, saw its group index surge 15.85% and 1.3% year-on-year and month-on-month respectively in July 2023.The index of recreation and culture, which has an 11.1% weight in the CPI basket, zoomed 6.84% and 3.52% on yearly and monthly basis respectively in July this year.The index of housing, water, electricity and other fuels – with a weight of 21.2% in the CPI basket – increased 4.49% year-on-year but fell 0.7% month-on-month in July 2023.The education sector, which has 5.8% in the CPI basket, saw its index surge 4.06 on a yearly basis this July, even as it was unchanged from the previous month.The index of transport, which has a 14.6% weight, was seen gaining 2.53% and 0.96% on yearly and monthly basis respectively in July 2023.The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.The price of petrol (super) and diesel remained flat on an annualised basis but that of premium rose 2.63% in July 2023. On a monthly basis, the prices of super, premium and diesel were unchanged.The index of furniture and household equipment, which has 7.9% weight in the CPI basket, was seen shooting up 2.13% year-on-year but was down 0.13% month-on-month in July 2023.Food and beverages group, which carry 13.5% weight in the CPI basket, became costlier by 1.54% and 1.63% on a yearly and monthly basis respectively in July 2023.The index of health, which has a 2.7% weight, was up 0.33% on a yearly basis, while it shrank 1.28% month-on-month in July 2023.However, the restaurants and hotels group, with a 6.6% weight, saw its index plunge 4.65% and 3.49% on a yearly and monthly basis respectively in July 2023, reflecting the lower demand in view of the summer holidays.The index of clothing and footwear, which has a 5.6% weight in the CPI basket, fell 0.31% year-on-year but rose 0.17% on a monthly basis in the review period.The index of miscellaneous goods and services, with a 5.7% weight, slid 0.08% and 1.64% year-on-year and month-on-month respectively this July.The tobacco index, which has a 0.3% weight, was unchanged on yearly and monthly basis in the review period.

The domestic institutions were seen net profit takers as the 20-stock Qatar Index fell 0.09% to 10,662.56 points yesterday. The market has been on a bearish for the third consecutive day.
Business
QSE eases slightly despite movers outnumber shakers

The Qatar Stock Exchange (QSE) Wednesday saw a rollercoaster ride in the initial period to finally close mere 10 points lower despite gainers outnumbering losers.The domestic institutions were seen net profit takers as the 20-stock Qatar Index fell 0.09% to 10,662.56 points. The market has been on a bearish for the third consecutive day.The Arab retail investors turned net sellers in the main market, which reported year-to-date losses of 0.16%.The foreign individuals’ weakened net buying had its influence in the main bourse, which saw the index touch an intraday high of 10,713 points.The Gulf institutions’ lower net buying support also had its say in the main market, whose capitalisation was down QR0.23bn or 0.04% to QR626.55bn with microcap segments losing the most.However, the foreign funds turned bullish in the main bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.39mn changed hands across 24 deals.The local retail investors were seen net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main index in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.09%, Al Rayan Islamic Index (Price) by 0.06% and All Share Index by 0.08% in the main bourse, whose trade turnover grew amidst lower volumes.The telecom sector index shrank 0.53%, consumer goods and services (0.22%), banks and financial services (0.17%) and transport (0.14%); whereas insurance gained 0.8%, real estate (0.29%) and industrials (0.2%).Major losers in the main market included Doha Insurance, QLM, Qatar Industrial Manufacturing, Qatar Oman Investment, Woqod, Estithmar Holding and Ooredoo.Nevertheless, Dlala, Medicare Group, Ezdan, Qatar Insurance, Aamal Company, Al Meera, Qatari Investors Group and Mazaya Qatar were among the gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value.The domestic funds were net sellers to the tune of QR25.4mn compared with net buyers of QR1.12mn on August 15.The Arab individuals turned net sellers to the extent of QR2.94mn against net buyers of QR0.44mn the previous day.The Arab institutions were net profit takers to the tune of QR0.13mn compared with no major net exposure on Tuesday.The foreign individual investors’ net buying declined considerably to QR0.51mn against QR10.22mn on August 15.The Gulf institutions’ net buying decreased noticeably to QR0.92mn compared to QR6.52mn the previous day.However, the foreign funds turned net buyers to the extent of QR17.12mn against net sellers of QR4.72mn on Tuesday.The local individuals were net buyers to the tune of QR8.76mn compared with net profit takers of QR11.24mn on August 15.The Gulf retail investors turned net buyers to the extent of QR1.14mn against net sellers of QR1.55mn the previous day.Trade volumes in the main market fell 3% to 133.48mn shares, while value expanded 19% to QR412.85mn and deals by 8% to 16,096.The venture market saw a 9% contraction in trade volumes to 1.54mn equities, 8% in value to QR3.44mn and 7% in transactions to 315.

Bissett and Kramer
Qatar
QTerminals buys majority stake in Netherlands' Kramer Holding

QTerminals, Qatar's port management company, has acquired a majority stake in Kramer Holding, a provider of integrated logistics and container services in the Port of Rotterdam, as part of its expansion into the European maritime sector.The acquisition represents an important milestone in the expansion of QTerminals, as the Port of Rotterdam is the largest port in Europe and is a significant addition to QTerminals group’s diversification.In addition, this acquisition further reinforces QTerminals Group’s commitment to contribute towards Qatar National Vision 2030 which aims for the diversification of the national economy and foreign investments."Kramer Group is an important strategic step for QTerminals as we will expand our presence into Europe’s largest port. Kramer Group complements QTerminals and adds existing business, a robust value-creating service offering and European network to QTerminals portfolio," QTerminals Group chief executive officer Neville Bissett.QTerminals will retain Kramer’s key management personnel and employees, including André Kramer, who will continue as the chief executive officer.Kramer Group has both core and strategic importance to the Port of Rotterdam, as it supplements the port’s activities whilst having direct access to the deep-sea terminals of the Port of Rotterdam.The Kramer Group is an integrated container handling and storage, terminal, container development and logistics services provider, located in the Port of Rotterdam, and is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port.The acquisition of the Kramer Group by QTerminals allows its entry and presence in the largest port in Europe which makes QTerminals Group’s position stronger in relation to future opportunities in Europe and other developed global markets.The presence of QTerminals in the Port of Rotterdam is strategic and reputable for QTerminals Group in particular and for Qatar in general as QTerminals' profile will become known in the largest European port.“Today, we mark the beginning of a new chapter joining forces with QTerminals. I believe that their expertise, resources, and industry insights will enable us to expand our horizons and explore untapped opportunities. Whilst maintaining our culture, organisation, core team and our commitment to delivering the superior quality services to our clients in almost all aspects of container logistics”, said Kramer.By acquiring Kramer Group, QTerminals will continue to develop its world leading technical and operational know-how to enhance and optimize its potential as one of the leading providers of integrated container logistics services in Europe.

Gulf Times
Business
Foreign funds’ selling pressure drags QSE 70 points

The foreign institutions’ increased net profit booking Monday steered the Qatar Stock Exchange to the negative terrain as it lost 70 points in key index and QR3bn in capitalisation.Selling pressure, especially in the banking counter, led the 20-stock Qatar Index shed 0.65% to 10,708.35 points.The Gulf institutions’ weakened net buying had its influence in the main market, whose year-to-date gains weakened to 0.26%.The Arab retail investors’ lower net buying interests also had its say in the main bourse, which saw the index touch an intraday high of 10,793 points.The Gulf individuals continued to be net profit takers but with lesser intensity in the main market, whose capitalisation shed QR3.15bn or 0.5% to QR628.86bn with midcap segments losing the most.The foreign individual investors turned bullish in the main bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.18mn changed hands across 11 deals.The local retail investors were seen net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main index in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.65%, Al Rayan Islamic Index (Price) by 0.58% and All Share Index by 0.56% in the main bourse, whose trade turnover grew amidst lower volumes.The banks and financial services sector index declined 0.95%, consumer goods and services (0.46%), industrials (0.44%), transport (0.39%) and real estate (0.32%); whereas insurance shot up 2.1% and telecom 0.49%.Major losers in the main market include General Insurance and Reinsurance, QIIB, QLM, Widam Food, Zad Holding, QNB, Industries Qatar and Nakilat. Ion the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Gulf International Services, Al Khaleej Takaful, Dlala, Doha Insurance, Qatar Insurance, Alijarah Holding, Qatar National Cement, Qatar Islamic Insurance, Beema and Gulf Warehousing were among the gainers in the main bourse. In the junior market, Mahhar Holding saw its shares appreciate in value.The foreign institutions’ net selling increased noticeably to QR17.06mn compared to QR7.74mn on August 13.The Gulf institutions’ net buying decreased considerably to QR6.52mn against QR19.68mn the previous day.The Arab individuals’ net buying weakened perceptibly to QR1.08mn compared to QR3.55mn on Sunday.However, the foreign individual investors turned net buyers to the tune of QR5.97mn against net sellers of QR0.6mn on August 13.The domestic funds were net buyers to the extent of QR2.68mn compared with net sellers of QR2.6mn the previous day.The local retail investors turned net buyers to the tune of QR1.03mn against net profit takers of QR11.94mn on Sunday.The Gulf retail investors’ net profit booking eased marginally to QR0.22mn compared to QR0.35mn on August 13.The Arab institutions had no major net exposure.Trade volumes in the main market fell 6% to 150.6mn shares, while value expanded 15% to QR385.14mn and deals by 55% to 17,194.The venture market saw a 90% surge in trade volumes to 1.2mn equities, 106% in value to QR2.55mn and 103% in transactions to 237.