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Wednesday, April 17, 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
Foreign funds’ buying support keeps QSE afloat in positive trajectory

The Qatar Stock Exchange Monday was on a roller-coaster drive to finally settle mere nine points higher despite strong buying support from foreign institutions..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[59949]**A higher than average demand was visible in the counters of banking, transport, consumer goods and telecom as the 20-stock Qatar Index edged up 0.08% to 10,962.95 points.The local retail investors’ weakened net selling pressure had its marginal influence in the main market, which saw the index touch an intraday low of 10,913 points.However, more than 53% of the traded constituents were in the red in the main bourse, whose year-to-date gains improved to 2.64%.The domestic institutions were increasingly into net selling in the main market, whose capitalisation was down QR0.75bn or 0.12% to QR642bn with microcap cap segments losing the most.The Arab retail investors were seen bearish in the main bourse, which saw a total of 0.11mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.39mn changed hands across 23 deals.The Gulf institutions turned net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index declined vis-à-vis marginal gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index was up 0.08% and All Share Index by 0.09%, while Al Rayan Islamic Index (Price) was down 0.03% in the main bourse, whose trade turnover grew amidst lower volumes.The banks and financial services sector index gained 0.75%, transport (0.56%), consumer goods and services (0.47%) and telecom (0.4%); while industrials shrank 1.68%, real estate 0.46% and insurance 0.31%.Major movers in the main market included Qatar Islamic Bank, United Development Company, QLM, Woqod, Baladna, Doha Bank and Milaha. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Qatar Oman Investment, Industries Qatar, Inma Holding, Qatar Islamic Insurance, Zad Holding, Masraf Al Rayan, Widam Food, Mesaieed Petrochemical Holding, Barwa, Ezdan, Mazaya Qatar and Gulf Warehousing were among the shakers in the main market. In the juniour bourse, Mahhar Holding saw its shares depreciate in value.The foreign institutions’ net buying increased significantly to QR75.3mn compared to QR26.45mn on July 30.The local retail investors’ net profit booking weakened noticeably to QR14mn against QR32.19mn the previous day.However, the domestic funds’ net selling strengthened substantially to QR34.15mn compared to QR17.4mn on Sunday.The Arab individual investors turned net sellers to the tune of QR20.57mn against net buyers of QR10.2mn on July 30.The Gulf institutions were net sellers to the extent of QR3.27mn compared with net buyers of QR10.99mn the previous day.The foreign retail investors turned net profit takers to the tune of QR2.33mn against net buyers of QR1.69mn on Sunday.The Gulf individuals were net sellers to the extent of QR1.01mn compared with net buyers of QR0.25mn on July 30.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market shrank 3% to 191.95mn shares but value increased 35% to QR526.68mn and deals by 55% to 18,510.The venture market saw trade volumes more than double to 2.09mn equities and value by also more than double to QR4.74mn on 76% surge in transactions to 235.

The Qatar Central Bank on Wednesday increased the repo rate, deposit and lending rates by 25 basis points, the US Fed raised the reference rates (by 25 basis points) to their highest level in more than two decades, raising hopes that the latest hike could be the last for a long time.
Business
Qatar sees 5% increase in interest rates since January 2022

Qatar has seen a cumulative 5% or 500 basis points (bps) hike in interest rates since January 2022, even as the central bank outlined four major priority sectors that would not bear the brunt of rate hike on their outstanding loans.The Qatar Central Bank (QCB) on Wednesday increased the repo rate, deposit and lending rates by 25 basis points, the US Fed raised the reference rates (by 25 basis points) to their highest level in more than two decades, raising hopes that the latest hike could be the last for a long time.The repo rate in Qatar has increased by a cumulative 5% or 500 bps from the beginning of 2022. Since January 2022, QCB repo rate has risen from 1% to 1.25% in March, then to 1.75% in May, 2.5% in June, 3.25% in July, 4% in September, 4.75% in November, 5.25% in December, 5.5% in March, 5.75% in May 2023 and the 6% in July. In 2022, the average repo rate was 2.77% and it was 1% in 2021.The increasing repo rate comes in view of the fixed exchange parity with the greenback; otherwise higher-yielding dollar-based investments could put downward pressure on the local currency, market sources said, adding it may lead funds flow to bank deposits with higher returns and lower risk.The QCB lending rate has cumulatively increased by 3.75% or 375 bps from the beginning of 2022. It was seen jumping from 2.5% in January to 2.75% in May, 3.25% in June, 3.75% in July, 4.5% in September, 5% in November, 5.5% in December, 5.75% in March, 6% in May and the latest 6.25%. The average lending rate in 2021 was 2.5%.On credit facilities, the interest rate (weighted average) on loans less than one year was seen increasing to 6.5% in May 2023 against 4.01% in May 2022; on loans from one to three years to 6.83% (3.37%); and on loans of three years and above to 7.1% (4.27%).However, the QCB (on July 27) said there are various sectors that benefit from the non-increase in interest/return rates on the outstanding credit facilities in national banks.The eligible sectors include private housing and consumption loans to Qatari citizens; service sector; industrial manufacturing; and trading sector. Within the services sector that ought to benefit include tourism, restaurants, hotels, entertainment, mechanical workshops, exhibition and machinery repairs.Within the industrial manufacturing sector that ought to benefit include the segments such as food, clothing and leather, furniture and wood, bottled and canned soft drinks, and sanitary products.Similarly, the QCB deposit rate has cumulatively jumped by 4.75% or 475 bps, increasing from 1% in January 2022 to 1.5% in May, 2.25% in June, 3% in July, 3.75% in September, 4.5% in November, 5% in December 2022, 5.25% in March 2023, 5.5% in May 2023 and 5.75% this July. The average deposit rate stood at 1% in 2021.In terms of customer deposits, time deposits of one-month was seen surging to 2.74% in May 2023 compared to 1.52% in May 2022; three-month deposits to 5.46% (1.79%); six-month deposits to 4.84% (2.02%); one-year to 5.35% (2%) and more than one year to 4.54% (1.92%).The weighted average overnight interbank interest rate (on riyal) noticeably shot up from January 2022 when it was 0.28%. In July 2022, it spurted to 1.68%, 2.62% in August, 2.61% in September, 3.7% in October, 4.31% in November, 4.68% in December, 4.97% in January 2023, 5.02% in February 2023, 5.12% in March 2023, 5.3% in April 2023 and 5.51% in May 2023.

The industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.54% to 10,953.92 points Sunday.
Business
Positive rally continues in QSE as index crosses 10,900 points; M-cap adds QR3.41bn

The last week’s positive rally got carried over in the Qatar Stock Exchange (QSE), which Sunday opened the week on a stronger note as its key index gained more than 59.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[59949]**points to surpass the 10,900 levels.The industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.54% to 10,953.92 points.The Arab individuals turned net buyers in the main market, which recovered from an intraday low of 10,869 points.As much as 46% of the traded constituents extended gains to investors in the main bourse, whose year-to-date gains improved to 2.55%.The Gulf retail investors were net bullish, albeit at lower levels, in the main market, whose capitalisation added QR3.41bn or 0.53% to QR642.75bn with small cap segments gaining the most.The domestic institutions’ weakened net profit booking had its influence in the main bourse, which saw a total of 59,232 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn changed hands across 19 deals.The foreign institutions continued to be net buyers but with lesser intensity in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index gained 0.54%, All Share Index by 0.51% and Al Rayan Islamic Index (Price) by 0.48% in the main bourse, whose trade turnover and volumes were on the decline.The industrials sector index shot up 1.46%, banks and financial services (0.55%) and consumer goods and services (0.4%); while transport declined 0.95%, realty (0.33%), telecom (0.29%) and insurance (0.16%).Major movers in the main market included Qamco, Qatar Industrial Industries Qatar, Zad Holding, Al Meera, Masraf Al Rayan and Doha Bank. In the venture market, Al Faleh Educational Holding and Mahhar Holding saw their shares appreciate in value.Nevertheless, Qatar Oman Investment, Inma Holding, Qatar Electricity and Water, Milaha, Lesha Bank, Qatari German Medical Devices, Mannai Corporation, Baladna, Qatar National Cement and Barwa were among the shakers in the main market.The Arab individual investors turned net buyers to the tune of QR10.2mn compared with net sellers of QR4.25mn on July 27.The foreign retail investors were net buyers to the extent of QR1.69mn against net sellers of QR3.02mn last Thursday.The Gulf individuals turned net buyers to the tune of QR0.25mn compared with net sellers of QR0.93mn the previous trading day.The domestic institutions’ net profit booking declined substantially to QR17.4mn against QR48.12mn on July 27.The Qatari individuals’ net selling weakened noticeably to QR32.19mn compared to QR50.02mn last Thursday.However, the foreign funds’ net buying decreased significantly to QR26.45mn against QR58.38mn the previous trading day.The Gulf institutions’ net buying shrank drastically to QR10.99mn compared to QR48.06mn on July 27.The Arab institutions had no major net exposure against were net sellers to the tune of QR0.08mn last Thursday.The main market saw 19% shrinkage in trade volumes to 196.88mn shares, 37% in value to QR390.71mn and 41% in deals to 11,962.In the venture market, trade volumes grew more than five-fold to 0.93mn equities and value by more than seven-fold to QR2.05mn on more than quadrupled transactions to 134.

The US Federal Reserve’s rate hike and the Chinese stimulus had its positive impact on the Qatar Stock Exchange this week as its key index gained 448 points and capitalisation expanded about QR23bn
Business
Fed rate hike lifts index 448 points; M-caps adds QR23bn

The US Federal Reserve’s rate hike and the Chinese stimulus had its positive impact on the Qatar Stock Exchange (QSE) this week as its key index gained 448 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[59024]**capitalisation expanded about QR23bn.The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index shot up 4.29% this week which saw Ooredoo Group disclose its intent to ink pact with Zain Group and TASC Tower to form the largest tower company in the Middle East and North Africa. The industrials, real estate and banking counters witnessed higher than average demand this week which saw Capital Intelligence affirms long term foreign and local currency ratings of Qatar at ‘AA’ with “stable” outlook.The foreign funds were increasingly bullish this week which saw QIIB report net profit of QR615.08mn in the first half (H1) of 2023.As much as 72% of the traded constituents extended gains to investors this week which saw Barwa Real Estate's H1-2023 net profit at QR553mn.The Gulf retail investors’ weakened net selling had its influence in the main market this week which saw Doha Bank report H1 net profit of QR553mn.The Islamic index was seen gaining slower than the other indices this week which saw Vodafone Qatar register net profit of QR259.84mn in H1-2023.The Arab institutions’ lower net profit booking pressure had its say in the main market this week which saw United Development Company’s H1-2023 net profit at QR187.59mn.However, the local retail investors were increasingly bearish in the main bourse this week which saw Aamal Company report net profit of QR166.8mn in January-June 2023.The domestic institutions were also increasingly net sellers this week which saw Gulf Warehousing’s net profit at QR114.82mn in H1-2023.The Arab individuals turned bearish this week which saw a total of 0.3mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.7mn trade across 24 deals.The foreign retail investors were increasingly net profit takers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.14mn change hands across 17 transactions.Market capitalisation expanded 3.66% to QR639.34bn on the back of large and midcap segments this week which saw the banks and realty sectors together constitute more than 62% of the total trade volume in the main market.The Total Return Index soared 4.29%, the All Share Index by 4% and the All Islamic Index by 3.71% this week, which saw no trading of sovereign bonds.The industrials sector index zoomed 5.91%, real estate (5.64%), banks and financial services (4.87%), transport (1.5%), insurance (0.38%) and consumer goods and services (0.14%); while telecom declined 1.4% this week which saw no trading of treasury bills.Major gainers in the main market included Qatar Oman Investment, Barwa, Industries Qatar, Inma Holding, Qatar Cinema and Film Distribution, QNB, Qatar Islamic Bank, QIIB, Alijarah Holding, Qatari German Medical Devices, Barwa, Ezdan and Milaha. In the venture market, Mahhar Holding saw its shares appreciate in value this week, which saw Qatar Industrial Manufacturing report net profit of QR107.21mn in H1-2023.Nevertheless, Ooredoo, Mekdam Holding, Zad Holding, Estithmar Holding, Ahlibank Qatar and Nakilat were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its scrips depreciate in value this week, which saw Qatar’s trade surplus amount to QR17.41bn in June 2023.The Gulf institutions’ net buying increased noticeably to QR186.96mn compared to QR162.58mn the week ended June 20.The foreign institutions’ net buying expanded substantially to QR68.36mn against QR48.19mn the previous week.The Gulf individuals’ net selling declined perceptibly to QR2.13mn compared to QR3.45mn a week ago.The Arab institutions’ net profit booking eased marginally to QR0.12mn against QR0.44mn the week ended June 20.However, the local retail investors’ net selling strengthened markedly to QR131.84mn compared to QR128.98mn the previous week.The domestic institutions’ net profit booking jumped considerably to QR98.62mn against QR73.28mn a week ago.The foreign individuals’ net selling shot up notably to QR13.97mn compared to QR10.88mn the week ended June 20.The Arab retail investors turned net sellers to the extent of QR8.65mn against net buyers of QR6.26mn the previous week.The main market witnessed a 19% jump in trade volumes to 1.11mn shares, 20% in value to QR2.63bn and 3% in deals to 85,534 this week.In the venture market, trade volumes plunged 41% to 1.78mn equities, value by 37% to QR3.86mn and transactions by 39% to 323.

Gulf Times
Business
Qatar’s trade surplus at QR17.41bn; exports to Japan, China and India on the rise month-on-month in June 2023: PSA

Qatar’s exports to Japan, China and India were on the rise this June compared to those in May 2023, as the country reported trade surplus of QR17.41bn, according to the official statistics.However, the foreign merchandise trade surplus reported 4.4% and 42.3% contraction month-on-month and year-on-year respectively in the review period, according to the figures released by the Planning and Statistics Authority.More than 60% of the exports went to China, South Korea, Japan, India and Singapore,In June 2023, Qatar's shipments to China amounted to QR5.39bn or 20.1% of the total exports of the country, followed by South Korea QR3.2bn (11.9%), India QR3.17bn (11.8%), Japan QR2.47bn (9.2%), and (Singapore QR1.94bn (7.2%).On a monthly basis, Qatar's exports to Japan zoomed 66.28%, China by 16.19% and India by 2.52%; while those to South Korea and Singapore declined 10.02% and 0.21% respectively in June 2023.On a yearly basis, the country's exports to Japan plunged 37.35%, India by 24.53%, South Korea by 22.91%, Singapore by 15.72%, and China by 10.1% in the review period.The country's total exports of goods (including exports of goods of domestic origin and re-exports) were QR26.83bn, showing a 32% and 3.5% decline year-on-year and month-on-month respectively in June 2023.The country’s exports of petroleum gases and other gaseous hydrocarbons were valued at QR16.42bn, which plummeted 29.7% on an annualised basis; crude at QR4.78bn (126.4%); non-crude at QR2.23bn (46.9%) and other commodities at QR2.42bn (47.3%) in June 2023.On a monthly basis, the exports of petroleum gases and other gaseous hydrocarbons were down 5.1% and other commodities by 22%; whereas those of non-crude and crude expanded 13% and 6.9% respectively in the review period.Petroleum gases constituted 63.54% of the exports of domestic products in June 2023 compared to 60.44% a year ago period; followed by crude 18.5% (16.8%), non-crude 8.63% (10.88%) and other commodities 9.37% (11.89%).Qatar's total imports (valued at cost insurance and freight) amounted to QR9.42bn, which showed a 1.1% increase month-on-month; even as it fell 1.8% on an annualised basis in June 2023.The country's imports from the US amounted to QR1.84bn, which accounted for 19.5% of the total imports; China QR1.33bn (14.1%); Germany QR0.53bn (5.6%), India QR0.52bn (5.5%) and Italy QR0.48bn (5.1%) in the review period.On a monthly basis, the country's imports from China declined 5.28%, India by 3.35% and the US by 0.59%; whereas those from Germany and Italy increased 13.92% and 2.36% respectively in June 2023.On a yearly basis, Qatar's imports from Germany were seen plummeting 35.03%, India by 16.69%, China by 16.65% and Italy by 14.64%; while those from the US shot up 55.76% in the review period.In June 2023, the group of "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities and valued at QR0.5bn, showing an annual expansion of 37.2%In the second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons”, with QR0.4bn, an increase 44.5% year-on-year in the review period.In third place was “Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses" valued at QR0.3bn, showing increase of 34.7% in June 2023 on an annualised basis.

The foreign institutions were increasingly into net buying as the 20-stock Qatar Index shot up 1.2% to 10,894.59 points yesterday
Business
US Fed rate hike influences QSE as index gains 130 points; M-cap adds QR9bn

Reflecting the rally in the global bourses after the US Fed hiked interest rates to their highest level in more than two decades, the Qatar Stock Exchange on Thursday gained 130 points to inch towards 10,900 levels and capitalisation added QR9bn.The foreign institutions were increasingly into net buying as the 20-stock Qatar Index shot up 1.2% to 10,894.59 points.The industrials and real estate counters witnessed higher than average demand in the main market, which recovered from an intraday low of 10,750 points.As much as 52% of the traded constituents extended gains to investors in the main bourse, whose year-to-date gains improved to 2%.The foreign individual investors’ lower net profit booking was seen influential in the main market, whose capitalisation added 1.37% to QR639.34bn with midcap segments gaining the most.The Gulf retail investors’ weakened net selling also had its say in the main bourse, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.37mn changed hands across 12 deals.The local individuals and domestic institutions were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index soared 1.2%, All Share Index by 1.26% and Al Rayan Islamic Index (Price) by 1.04% in the main bourse, whose trade turnover and volumes were on the increase.The industrials sector index shot up 2.89%, realty (1.25%), banks and financial services (1.06%), transport (0.87%) and telecom (0.53%); while consumer goods and services declined 0.39% and insurance 0.12%.Major movers in the main market included Industries Qatar, Beema, QNB, Barwa, Ahlibank Qatar, Lesha Bank, Medicare Group, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Electricity and Water, and Milaha.Nevertheless, Zad Holding, Doha Bank, Qatari German Medical Devices, Masraf Al Rayan, Inma Holding, Qatari Investors Group and Ezdan were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their stocks depreciate in value.The foreign institutions’ net buying increased noticeably to QR58.38mn compared to QR46.88mn on July 26.The Arab individuals’ net selling declined markedly to QR4.25mn against QR11.61mn the previous day.The foreign individual investors’ net profit booking shrank perceptibly to QR3.02mn compared to QR7.11mn on Wednesday.The Gulf retail investors’ net selling weakened marginally to QR0.93mn against QR1.77mn on July 26.However, the Qatari individuals’ net selling grew notably to QR50.02mn compared to QR47.35mn the previous day.The domestic funds’ net profit booking strengthened considerably to QR48.12mn against QR29.84mn on Wednesday.The Gulf institutions’ net buying decreased marginally to QR48.06mn compared to QR50.8mn on July 26.The Arab institutions were net sellers to the tune of QR0.08mn against no major net exposure the previous three sessions.The main market saw a 31% surge in trade volumes to 244.36mn shares, 15% in value to QR616.68mn and 20% in deals to 20,224.In the venture market, trade volumes tanked 32% to 0.17mn equities, value by 50% to QR0.29mn and transactions by 44% to 31.

The banking counter witnessed higher than average demand as the 20-stock Qatar Index shot up 2.17% to 10,764.97 points on Wednesday
Business
QSE index surpasses 10,700 levels; M-cap adds QR10bn

Reflecting the global optimism on Chinese stimulus and ahead of the US Fed meeting, the Qatar Stock Exchange on Wednesday rose more than 220 points and its key index surpassed 10,700 levels and capitalisation gained about QR10bn.The banking counter witnessed higher than average demand as the 20-stock Qatar Index shot up 2.17% to 10,764.97 points.The Gulf institutions were seen increasingly into net buying in the main market, which hit an intraday high of 10,768 points.About 67% of the traded constituents extended gains to investors in the main bourse, which returned 0.79% gains year-to-date.The foreign funds turned bullish in the main market, whose capitalisation added 1.6% to QR630.67bn with large and midcap segments gaining the most.However, the ,local retail investors were increasingly net sellers in the main bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn changed hands across six deals.The domestic institutions were also increasingly net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index soared 2.17%, All Share Index by 1.9% and Al Rayan Islamic Index (Price) by 1.64% in the main bourse, whose trade turnover and volumes were on the increase.The banks and financial services sector index zoomed 2.85%, industrials (1.96%), consumer goods and services (0.54%) and transport (0.53%); while insurance declined 0.61%, real estate 0.17% and telecom (0.14%).Major movers in the main market included Qatar Islamic Bank, Lesha Bank, Industries Qatar, Commercial Bank, Inma Holding, QIIB, Qatari German Medical Devices, Vodafone Qatar and Gulf Warehousing. In the venture market, Mahhar Holding saw its stocks appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Qatar Oman Investment, Ahlibank Qatar, Qatar Industrial Manufacturing and Mannai Corporation were among the losers in the main market.The Gulf institutions’ net buying increased significantly to QR50.8mn compared to QR22.45mn on July 25.The foreign funds turned net buyers to the tune of QR46.88mn against net sellers of QR21.85mn the previous day.However, the local retail investors’ net selling grew substantially to QR47.35mn compared to QR2.62mn on Tuesday.The domestic funds’ net profit booking strengthened considerably to QR29.84mn against QR3.83mn on July 25.The Arab individuals were net sellers to the extent of QR11.61mn compared with net buyers of QR6.93mn the previous day.The foreign individual investors’ net profit booking expanded markedly to QR7.11mn against QR0.71mn on Tuesday.The Gulf individual investors’ net selling jumped perceptibly to QR1.77mn compared to QR0.38mn on July 25.The Arab funds continued to have no major net exposure for the third straight session.The main market saw a 12% contraction in trade volumes to 186.2mn shares but on 4% rise in value to QR536.56mn despite 1% lower deals at 16,892.In the venture market, trade volumes surged 19% to 0.25mn equities, value by 23% to QR0.58mn and transactions by 77% to 55.

Gulf Times
Business
Demand for telecom, industrials and financial sectors lift QSE above 10,500 levels

A higher than average demand for telecom, industrials, banking and insurance equities Tuesday led the Qatar Stock Exchange gain about 39 points and its key index surpassed.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[57470]**10,500 levels.The Arab retail investors were seen net buyers as the 20-stock Qatar Index gained 0.37% to 10,535.95 points.More than 67% of the traded constituents extended gains to investors in the main market, which had hit an intraday high of 10,603 points.The domestic funds’ weakened net selling had its influence in the main bourse, whose year-to-date losses reduced further to 1.36%.The local retail investors’ lower net profit booking had its say in the main market, whose capitalisation added QR1.99bn or 0.32% to QR620.72n with small cap segments gaining the most.The foreign individuals’ net selling was seen weakening in the main bourse, which saw a total of 0.1mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.19mn changed hands across nine deals.The Gulf institutions continued to be net buyers but with lesser intensity in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.37%, All Share Index by 0.34% and Al Rayan Islamic Index (Price) by 0.39% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector index expanded 0.77%, industrials (0.56%), banks and financial services (0.46%), insurance (0.45%) and real estate (0.02%); while consumer goods and services declined 0.54% and transport (0.3%).Major movers in the main market included Doha Bank, Dlala, Qatar Oman Investment, Alijarah Holding, Qatar National Cement, QIIB, Qatar Islamic Bank and Mesaieed Petrochemical Holding. In the venture market, Mahhar Holding saw its stocks appreciate in value.Nevertheless, Widam Food, Inma Holding, Woqod, Ahlibank Qatar, Qatari Investors Group and Nakilat were among the losers in the main market.The Arab individuals turned net buyers to the tune of QR6.93mn compared with net sellers of QR2.16mn on July 24.The domestic institutions’ net selling declined considerably to QR3.83mn against QR11.08mn the previous day.The local retail investors’ net profit booking fell noticeably to QR2.62mn compared to QR8.27mn on Monday.The foreign individual investors’ net selling shrank perceptibly to QR0.71mn against QR2.73mn on July 24.However, the foreign funds’ net selling expanded substantially to QR21.85mn compared to QR10.89mn the previous day.The Gulf individuals turned net sellers to the extent of QR0.38mn against net buyers of QR0.39mn on Monday.The Gulf institutions’ net buying weakened significantly to QR22.45mn compared to QR34.74mn on July 24.The Arab funds continued to have no major net exposure for the second straight session.The main market saw an 8% contraction in trade volumes to 211.88mn shares, 2% in value to QR516.54mn and 2% in deals to 17,124.In the venture market, trade volumes plummeted 71% to 0.21mn equities, value by 71% to QR0.47mn and transactions by 74% to 31.

Gulf Times
Business
QSE gains marginally despite five of seven sectors remain bullish

The Qatar Stock Exchange Monday gained mere two points despite five of the seven sectors experiencing modest buying interests..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[57470]**The Gulf funds were seen increasingly into net buying as the 20-stock Qatar Index rose 0.02% to 10,497.04 points.The transport, insurance, consumer goods and industrials counters witnessed higher than average demand in the main market, which had hit an intraday high of 10,546 points.The local retail investors’ weakened net selling had its influence in the main market, whose year-to-date losses reduced further to 1.72%.As much as 48% of the traded constituents extended gains in the main bourse, whose capitalisation nevertheless shed QR1.17bn or 0.19% to QR618.73n with microcap segments losing the most.However, the domestic funds were increasingly into net selling in the main market, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.11mn changed hands across six deals.The foreign institutions’ net selling increased perceptibly in the main bourse, 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 0.02% and All Share Index by 0.01%, while Al Rayan Islamic Index (Price) fell 0.18% in the main bourse, whose trade turnover grew amidst lower volumes.The transport sector index gained 0.69%, insurance (0.56%), consumer goods and services (0.4%), industrials (0.22%) and banks and financial services (0.04%); while telecom declined 2.59% and real estate 0.72%.Major movers in the main market included Widam Food, Qatar General Insurance and Reinsurance, Qatar Oman Investment, Qatar Cinema and Film Distribution, Inma Holding and Commercial Bank. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their stocks appreciate in value.Nevertheless, Ooredoo, QLM, Gulf International Services, Mekdam Holding, Salam International Investment, Estithmar Holding, Mazaya Qatar, Ezdan and Vodafone Qatar were among the losers in the main market.The Gulf institutions’ net buying increased perceptibly to QR34.74mn compared to QR30.91mn on July 21.The local retail investors’ net selling fell substantially to QR8.27mn against QR23.57mn the previous day.However, the domestic institutions’ net selling grew noticeably to QR11.08mn compared to QR5.76mn on Sunday.The foreign institutions’ net profit booking expanded markedly to QR10.89mn against QR4.16mn on July 21.The foreign retail investors’ net selling shot up notably to QR2.73mn compared to QR0.41mn the previous day.The Arab individuals turned net sellers to the extent of QR2.16mn against net buyers of QR2.45mn on Sunday.The Gulf individuals’ net buying decreased marginally to QR0.39mn compared to QR0.56mn on July 21.The Arab funds had no major net exposure against net profit takers to the tune of QR0.03mn the previous day.The main market saw a 5% contraction in trade volumes to 229.32mn shares, while 21% increase in value to QR526.53mn and 26% in deals to 17,418.In the venture market, trade volumes surged 74% to 0.73mn equities, value by 81% to QR1.63mn and transactions by 34% to 118.

A Q-Max LNG carrier Mekaines operated by Nakilat. PICTURE: www.nakilat.com. The ratings continue to be supported by Qatar’s substantial low-cost hydrocarbon reserves, increasing LNG production and export capacity, high GDP (gross domestic product) per capita, and adequate official foreign reserves. It views the recent pickup in the pace of structural reforms as a supporting factor for the ratings.
Business
Qatar’s sovereign ratings affirmed with “stable” outlook

Capital Intelligence (CI) has affirmed the long-term foreign currency rating (LT FCR) and long-term local currency rating (LT LCR) of Qatar at ‘AA’.The sovereign’s short-term (ST) FCR and ST LCR have been affirmed at ‘A1+’. The outlook for the ratings remains "stable".The ratings reflect Qatar's very strong external balances and budgetary performance, supported by favourable liquefied natural gas (LNG) prices.CI factored in the country’s capacity to absorb future external or financial shocks given the large portfolio of foreign assets held by the Qatar Investment Authority (QIA) and the consequent comfortable net external creditor position.The ratings continue to be supported by Qatar’s substantial low-cost hydrocarbon reserves, increasing LNG production and export capacity, high GDP (gross domestic product) per capita, and adequate official foreign reserves. It views the recent pickup in the pace of structural reforms as a supporting factor for the ratings.Finding that the financial buffers have continued to improve since last review, benefitting from favourable hydrocarbon prices and strong demand for LNG, it said very large budget and current account surpluses have contributed to a further increase in Qatar’s net asset position, with the QIA’s total assets estimated to be 202.7% of projected GDP this year.The central government budget surplus reached 14.2% of GDP in 2022 (4.3% in 2021), and is forecast to average 12.8% in 2023-25."While the reliance on hydrocarbon revenues remains a rating constraint, the government has ample leeway to respond to severe fluctuations in hydrocarbon prices given the size of fiscal buffers and the degree of expenditure flexibility," CI said.Central government deposits stood at 11.2% of GDP in May 2023, while total government and government institutions’ deposits in the domestic banking system alone were around 36.1% of GDP.According to CI’s estimates, gross central government debt (including short-term treasury bills and bank overdrafts) decreased faster than previously expected to 50.8% of GDP in 2022, from 73.5% in 2021, reflecting nominal GDP growth and a large primary budget surplus.It expects debt dynamics to remain “favourable” in the medium term, resulting in a further decrease in the central government debt ratio to 43.4% in 2025.Current account performance remains very strong, with the surplus increasing to 26.3% of GDP in 2022 (14.5% in 2021) and to 5.3% in Q1 23 (from 4.6% in Q1 22)."The current account is slated to remain in very large surplus, averaging 14.5% of GDP in 2023-25," it said.Gross external debt decreased to 149.8% of current account receipts in 2022, from 263.2% in 2021, while official foreign exchange reserves rose to $63.2bn from $57.7bn the same period.Highlighting that Qatar’s economic strength is moderate; it said economic activity has picked up since 2021 due to the rebound in both the hydrocarbon and non-hydrocarbon sectors.Highlighting that real GDP growth reached 4.7% in 2022, compared to 1.6% in 2021, and expanded by 2.7% in Q1 23; it said the short- to medium-term growth outlook remains relatively favourable, with real GDP expected to grow by an average of 2.5% in 2023-25, supported by infrastructure investments at Qatar’s largest gas field, as well as robust performance in the services sectors.Qatar’s ratings are underpinned by sizeable hydrocarbon reserves (around 12.9% of global gas reserves) and associated export capacity, which in turn provide the government with substantial financial means."Given the large hydrocarbon exports and rather small population, GDP per capita is expected to exceed $83,900 this year (higher than similarly rated peers)," CI said.

Gulf Times
Business
Buying in realty stocks lifts QSE index; Islamic equities outperform

The Qatar Stock Exchange Sunday gained more than 48 points on the back of strong buying interests, especially in the real estate 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[57077]**The Gulf institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index rose 0.47% to 10,494.91 points.The Arab retail investors were seen bullish in the main market, which had hit an intraday high of 10,529 points.The Gulf individuals were increasingly net buyers in the main market, whose year-to-date losses reduced further to 1.74%.The domestic fund’s weakened net selling had its profound influence in the main bourse, whose capitalisation added QR3.14bn or 0.51% to QR619.9bn with small cap segments gaining the most.The foreign retail investors’ lower net profit booking had its say in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn changed hands across eight deals.The Arab institutions’ net selling eased marginally in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.47%, All Share Index by 0.43% and Al Rayan Islamic Index (Price) by 0.77% in the main bourse, whose trade turnover and volumes were on the decline.The real estate sector shot ip 5.25%, banks and financial services (0.4%), industrials (0.18%), consumer goods and services (0.13%), insurance (0.1%) and telecom (0.05%); while transport declined 0.29%.As much as 66% of the traded constituents extended gains in the main bourse with major movers being Barwa, Qatar Oman Investment, QLM, Mannai Corporation, Inma Holding, Alijarah Holding, Salam International Investment, Qatar Industrial Manufacturing, Aamal Company, Ezdan and Mazaya Qatar. In the venture market, Mahhar Holding saw its shares appreciate in value.Nevertheless, Widam Food, Lesha Bank, Medicare Group, Qatar General Insurance and Reinsurance and Mekdam Holding were among the losers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value.The Arab retail investors were net buyers to the tune of QR2.45mn compared with net sellers of QR6.1mn on July 20.The Gulf individuals’ net buying increased marginally to QR0.56mn against QR0.14mn the previous trading day.The domestic institutions’ net selling declined substantially to QR5.76mn compared to QR21.05mn last Thursday.The foreign retail investors’ net profit booking weakened noticeably to QR0.41mn against QR4.77mn on July 20.The Arab institutions’ net selling shrank marginally to QR0.03mn compared to QR0.28mn the previous day.However, the local retail investors’ net selling fell substantially to QR5.76mn against QR16.74mn last Thursday.The foreign institutions turned net sellers to the extent of QR4.16mn compared with net buyers of QR15.43mn on July 20.The Gulf institutions’ net buying decreased perceptibly to QR30.91mn against QR33.37mn the previous trading day.The main market saw a 14% contraction in trade volumes to 241.51mn shares, 18% in value to QR435.81mn and 26% in deals to 13,876.In the venture market, trade volumes surged 68% to 0.42mn equities, value by 67% to QR0.9mn and transactions by 96% to 88.

The Gulf funds were seen net buyers as the 20-stock Qatar Index shot up 2.24% this week which saw Qatar Islamic Bank report net profit of QR1.96bn in the first half (H1) of 2023
Business
Gulf funds’ buying interests lift QSE more than 2%; banks and telecom outperform

A higher than average demand for the banks and telecom scrips led the Qatar Stock Exchange (QSE) gain more than 2% this week.The Gulf funds were seen net buyers as the 20-stock Qatar Index shot up 2.24% this week which saw Qatar Islamic Bank report net profit of QR1.96bn in the first half (H1) of 2023.About 66% of the traded constituents extended gains to investors this week which saw Barwa Real Estate's fully-owned subsidiary Lusail Golf Development Company reach a pact to sell two land plots in the Lusail area for QR6.36bn.The foreign institutions were seen net buyers this week which saw Commercial Bank report H1 net profit of QR1.55bn.The Islamic index was seen gaining slower than the other indices this week which saw Ahlibank Qatar register net profit of QR359.74mn in H1-2023.The Arab retail investors were seen bullish this week which saw Woqod report net profit of QR440.18mn in the first six months of this year.However, the local retail investors turned net profit takers in the main market this week which saw Qatar's ports see a 32% year-on-year increase in container transport volume in January-June 2023.The domestic institutions were also net sellers this week which Qatar register a more than eight-fold jump in contracts awarded to $10.4bn in the second quarter of 2023.The foreign individuals were seen bearish this week which saw a total of 0.41mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.9mn trade across 27 deals.The Arab funds were net profit takers in the main market this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.34mn change hands across 32 transactions.Market capitalisation stood at QR616.76bn on the back of mid and small cap segments this week which saw the banks, consumer goods and industrials sectors together constitute about 78% of the total trade volume in the main market.The Total Return Index soared 2.24%, the All Share Index by 2.06% and the All Islamic Index by 1.8% this week, which saw no trading of sovereign bonds.The banking sector index shot up 3%, telecom (2.26%), real estate (1.44%), industrials (1.36%), consumer goods and services (0.74%), insurance (0.48%) and transport (0.32%) this week which saw no trading of treasury bills.Major gainers in the main market included Qatar Oman Investment, Salam International Investment, Qatar Islamic Bank, Mannai Corporation, Doha Bank, QNB, Lesha Bank, Alijarah Holding, Industries Qatar, Estithmar Holding, Qatar Electricity and Water, Gulf International Services, Mazaya Qatar, Barwa, Ezdan, Vodafone Qatar, Ooredoo and Gulf Warehousing. In the venture market, Al Faleh Educational Holding and Mahhar Holding saw their shares appreciate in value this week.Nevertheless, Widam Food, Dlala, Qatari German Medical Devices, Qatar General Insurance and Reinsurance, Beema and Qatar Industrial Manufacturing were among the losers this week.The Gulf institutions were net buyers to the tune of QR162.58mn, whereas the Gulf individuals were net sellers to the extent of QR3.45mn this week.The foreign funds were net buyers to the tune of QR48.19mn, while foreign retail investors were net sellers to the extent of QR10.88mn this week.The Arab individual investors were net buyers to the tune of QR6.26mn, whereas the Arab institutions were net profit takers to the extent of QR0.44mn this week.In the case of Qatari retail investors and domestic funds, both were net sellers to the tune of QR128.98mn and QR73.28mn respectively this week.The main market witnessed a total of 934.88mn shares valued at QR2.19bn changed hands across 82,703 deals this week.The venture market saw as many as 3.01mn equities valued at QR6.12mn trade across 527 transactions.

Gulf Times
Business
QSE extends gains on foreign funds’ buying support

The Qatar Stock Exchange on Thursday gained about 68 points on the back of buying interests of foreign institutions.The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.65% to 10,446.11 points.The Gulf retail investors were seen bullish, albeit at lower levels, in the main market, which recovered from an intraday low of 10,369 points.The local individuals’ substantially weakened net selling had its influence in the main market, whose year-to-date losses reduced further to 2.2%.The Gulf institutions continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR3.23bn or 0.53% to QR616.76bn with small cap segments gaining the most.The domestic funds were seen net profit takers in the main market, which saw a total of 0.41mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1mn changed hands across 31 deals.The Arab retail investors turned bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.65%, the All Share Index by 0.53% and the Al Rayan Islamic Index (Price) by 0.51% in the main bourse, whose trade turnover fell amidst higher volumes.The telecom sector index shot up 1.61%, followed by banks and financial services (0.87%), transport (0.41%), real estate (0.33%) and consumer goods and services (0.05%); while insurance and industrials declined 0.77% and 0.06% respectively.Major gainers in the main market included Qatar Oman Investment, Salam International Investment, Qatar Islamic Bank, Medicare Group, Ooredoo, Lesha Bank, Alijarah Holding, Mannai Corporation, Mazaya Qatar, Gulf Warehousing and Nakilat.Nevertheless, Dlala, Beema, Qatar Industrial Manufacturing, Doha Insurance, Widam Food and Qatari German Medical Devices were among the shakers in the main market.In the venture market, Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value.The foreign institutions turned net buyers to the tune of QR15.43mn compared with net sellers of QR12.88mn on July 19.The Gulf individuals turned net buyers to the extent of QR0.14mn against net sellers of QR3.73mn on Wednesday.The local retail investors’ net selling fell significantly to QR16.74mn compared to QR47.05mn the previous day.However, the domestic institutions turned net sellers to the tune of QR21.05mn against net buyers of 10.42mn on July 19.The Arab retail investors were net sellers to the extent of QR6.1mn compared with net buyers of QR0.69mn on Wednesday.The foreign individuals' net profit booking increased marginally to QR4.77mn against QR4.38mn the previous day.The Arab institutions were net sellers to the tune of QR0.28mn compared with no major net exposure on July 19.The Gulf institutions’ net buying weakened noticeably to QR33.37mn against QR56.95mn the previous day.The main market saw a 13% jump in trade volumes to 282.3mn shares but on 6% decline in value to QR529.2mn amidst 4% increase in deals to 18,758.In the venture market, trade volumes were up 4% to 0.25mn equities, value by 42% to QR0.54mn and transactions by 25% to 45.

An oil refinery on the outskirts of Doha (file). Qatar's industrial production increased 1.1% on an annualised basis in May, according to the PSA.
Business
Qatar's industrial production surges year-on-year in March: PSA

Qatar's industrial production increased 1.1% on an annualised basis in May 2023, on the back of faster expansion, especially in non-hydrocarbons such as chemicals and food products, according to official data.The country's industrial production index (IPI), however, tanked 6.3% on a monthly basis in the review period, according to the 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 2013.The mining and quarrying index, which has a relative weight of 82.46%, rose by a marginal 0.8% on a yearly basis owing to a 0.8% increase in the extraction of crude petroleum and natural gas but other mining and quarrying sectors rose faster at 5.9%.On a monthly basis, the sector index plummeted 7.7% on account of a 7.7% slump in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors shot up 4.3% in the review period.The manufacturing index, with a relative weight of 15.85%, expanded 3.6% year-on-year this May as there was a 12% increase in the production of chemicals and chemical products, 5.5% in food products, 1.7% in basic metals and 1.1% in beverages.Nevertheless, there was a 13% contraction in the production of refined petroleum products, 10.3% in rubber and plastics products, 9.1% in printing and reproduction of recorded media, and 8.7% in cement and other non-metallic mineral products in the review period.On a monthly basis, the manufacturing index fell 1.1% owing to an 11.1% contraction in the production of refined petroleum products, 2.3% in food products, and 1.6% in rubber and plastics products in May 2023.However, there was a 6.7% increase in the production of beverages, 4.5% in printing and reproduction of recorded media, 2.1% in basic metals, 0.6% in cement and other non-metallic mineral products, and 0.6% in chemicals and chemical products in the review period.Electricity, which has a 1.16% weight in the IPI basket, saw its index surge 1%and 34.7% year-on-year and month-on-month respectively in May 2023.In the case of water, which has a 0.53% weight, the index was seen declining 0.3% on an annualised basis but gained 8.7% month-on-month in the review period.

A view of the Ras Laffan Industrial City, Qatar's principal site for the production of liquefied natural gas and gas-to-liquids. Qatar’s NFS project is the second phase expansion of Qatar’s North Field project which remains the worlds’ largest single non-associated gas field and comprises of two LNG (liquefied natural gas) mega trains with a combined capacity of 16mn tonnes per annum.
Business
Qatar's project market upbeat in Q2; contracts awarded jump eight-fold

The mega North Field South (NFS) helped Qatar register more than eight-fold year-on-year jump in contracts awarded in the second quarter (Q2) of 2023, according to Kamco Invest, a regional economic powerhouse."Total value of contracts awarded in Qatar jumped 8.3 times year-on-year to reach $10.4bn as compared to $1.1bn in Q2-2022," Kamco Invest said, quoting data gathered by MEED Projects.The growth in contract awards was mainly due to the performance of the country’s gas sector, which represented nearly 97% of total value of projects awarded during the quarter, it said.Total values of gas sector projects awarded jumped nearly 16 times to $10bn during Q2-2023 up from $600mn in Q2-2022. The steep growth of total values of projects awarded in the country was mainly due to one megaproject awarded by QatarEnergy, the country's hydrocarbons behemoth.The state-owned energy company has awarded a $10bn EPC (engineering, procurement and construction) contract for the NFS megaproject to a joint venture of Technip Energies and Consolidated Contractors Company (CCC).Qatar’s NFS project is the second phase expansion of Qatar’s North Field project which remains the worlds’ largest single non-associated gas field and comprises of two LNG (liquefied natural gas) mega trains with a combined capacity of 16mn tonnes per annum.The EPC contract’s scope is extensive and includes the construction of two LNG trains with estimated capacity of 8mn each. The project also includes the construction of carbon capture and sequestration facilities.Elsewhere in the Gulf Co-operation Council (GCC) region, the project awards surged 86% during Q2-2023 to $49.7bn, underlining the determination of the GCC countries to execute and reach their diversification targets."The strong rise in the total value of project awards in the GCC is also a significant indicator of the health of the economies in the GCC region. This was the highest quarterly project awards value for over five years," Kamco Invest said.All GCC project markets witnessed growth on an annualised basis during Q2-2023 except for Bahrain which remains the smallest project market in the region; while Saudi Arabia remained the largest projects market in the GCC during Q2-2023.Saudi Arabia’s project awards recorded 33.7% growth during the quarter to $24.4bn in Q2-2023.Comparatively, the UAE project awards jumped 127% to $12.2bn during the quarter.Contract awards in Kuwait increased from $922mn in Q2-2022 to $1.3bn during Q2-2023, the second-highest project value in the last six quarters.Saudi Arabia alone accounted over 49.1% of the contracts awarded in the GCC region during Q2-2023, while Saudi Arabia, the UAE and Qatar combined represented 94.4% of the overall projects in the GCC.

Gulf Times
Business
Gulf institutions’ demand lifts sentiments in QSE; index crosses 10,300 levels

The Qatar Stock Exchange Tuesday gained about 26 points mainly on the back of increased buying interests of Gulf institutions..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[55123]**The telecom and industrials counters witnessed higher than the average demand as the 20-stock Qatar Index rose 0.25% to 10,306.04 points.The foreign and Arab retail investors were seen bullish in the main market, which recovered from an intraday low of 10,257 points.The domestic funds’ weakened net selling had its influence in the main market, whose year-to-date losses reduced further to 3.51%.The foreign institutions continued to be net profit takers but with lesser intensity in the main bourse, whose capitalisation added QR1.39bn or 0.23% to QR608.79bn with microcap segments gaining the most.The local individuals were increasingly net sellers in the main market, which saw a total of 5,867 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.01mn changed hands across five deals.The Gulf retail investors turned net bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.25%, All Share Index by 0.16% and Al Rayan Islamic Index (Price) by 0.29% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector index shot up 1.8%, industrials (0.33%), consumer goods and services (0.15%) and banks and financial services (0.03%); while insurance declined 0.69%, real estate (0.1%) and transport (0.01%).Major gainers in the main market included Mekdam Holding, Ooredoo, Zad Holding, Qatari German Medical Devices, Mannai Corporation and Vodafone Qatar. In the venture market, Mahhar Holding saw its shares appreciate in value.Nevertheless, Widam Food, Qatar General Insurance and Reinsurance, Inma Holding, Qatar Islamic Insurance, Dlala and Mazaya Qatar were among the losers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value.The Gulf institutions’ net buying strengthened noticeably to QR30.34mn compared to QR27.88mn on July 17.The foreign individuals turned net buyers to the tune of QR0.74mn against net sellers of QR0.93mn the previous day.The Arab retail investors were net buyers to the extent of QR0.43mn compared with net sellers of QR1.49mn on Monday.The domestic institutions’ net selling declined considerably to QR15.95mn against QR46.53mn on July 17.However, the local retail investors’ net selling rose significantly to QR22.39mn compared to QR12.68mn the previous day.The Gulf individuals turned net sellers to the extent of QR0.62mn against net buyers of QR0.03mn on Monday.The foreign institutions’ net buying decreased substantially to QR7.46mn compared to QR33.88mn on July 17.The Arab institutions had no major net exposure against net profit takers to the tune of QR0.14mn the previous day.The main market saw a 29% decline in trade volumes to 90.89mn shares, 30% in value to QR288.75mn and 22% in deals to 13,884.In the venture market, trade volumes were up 3% to 0.77mn equities, value by 3% to QR1.62mn and transactions by 12% to 161.

The Qatar Central Bank's move to tighten the credit to the real estate sector is expected to not only lessen the stress in the banking industry but also augur well for the proposed real estate investment trusts (REITs)
Business
QCB financing controls on realty to lessen stress, augur well for REITs

The Qatar Central Bank's (QCB) move to tighten the credit to the real estate sector is expected to not only lessen the stress in the banking industry but also augur well for the proposed real estate investment trusts (REITs)."The (commercial banks') exposure towards the (real estate) sector has been a key stress factor. The latest salvo will certainly address the imbalance," an analyst with a leading investment house said, viewing the move as “positive” by market experts.Finding that realty is one of the problematic areas in the country's non-performing loans; he said credit concentration has remained a "cause of concern", a phenomenon common across the banks in the Gulf Co-operation Council.Although the banking sector’s asset quality is currently good and capital buffers remain strong, banks are exposed to "significant" lending concentrations (in the real estate), global credit rating agency Capital Intelligence had said.The central bank had last week put in place new real estate financing controls to include determining the maximum -loan-to-value (LTV) and tenure- for mortgages within Qatar, as part of measures to bulwark the banking sector.Branches and overseas subsidiaries of Qatari banks should comply with the instructions and conditions of the host regulatory authorities as long as the collaterals and financed properties are outside the country.As Qatari banks’ total exposure to real estate reportedly represent roughly one-fifth of the total loans, the lenders have historically been focusing on lending to the sector, resulting in high loan concentration and asset-quality vulnerabilities.The latest financial stability report of the QCB said real estate continued to remain as one of the most important sector in Qatar’s economy."Despite some decline in recent years, the share of real estate in bank credit continues to be large," it said, adding "as a result, movements in real estate prices have the potential to impact the balance sheets of both individual borrowers and financial institutions, with implications on financial stability."Stressing that the banking sector already has strong capital adequacy ratio and Tier 1 capital ratios; the amendments will bring in a rationalised regime to the borrowers. Sources said the amendments also come in view of soon to be introduced REITs.The strong non-energy private sectors, especially the real estate and construction, and the permits issued in the realty sector, make REITs good investment option, the sources said.The cabinet resolution No 28 of 2020 allowed real estate investment funds that will specialise in property investment in the various regions, thus providing an opportunity that was previously unavailable to middle and limited-income citizens to invest in the real estate sector.

Gulf Times
Business
QSE gains 55 points despite losers outnumbering gainers; M-cap adds QR3bn

The Qatar Stock Exchange Monday gained about 55 points mainly on the back of increased buying interests of foreign and Gulf institutions..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[55123]**A higher than average demand for the banking scrips was visible as the 20-stock Qatar Index rose 0.54% to 10,280.37 points.The local retail investors’ weakened net selling had its influence on the main market, which recovered from an intraday low of 10,197 points.However, about 54% of the traded constituents were in the red in the main market, whose year-to-date losses dropped to 3.75%.The domestic funds were seen increasingly into net profit booking in the main bourse, whose capitalisation added QR2.57bn or 0.42% to QR607.4bn with mid and microcap segments gaining the most.The Arab individual investors were seen net sellers in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn changed hands across nine deals.The Gulf retail investors continued to be net buyers but with lesser vigour in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.54%, the All Share Index by 0.48% and the Al Rayan Islamic Index (Price) by 0.38% in the main bourse, whose trade turnover was on the rise amidst lower volumes.The banks and financial services sector gained 0.8%, consumer goods and services (0.52%), insurance (0.45%), industrials (0.28%) and telecom (0.23%); while real estate declined 0.53% and transport (0.26%).Major gainers in the main market included Qatar Islamic Bank, Doha Bank, Qatar Electricity and Water, Dukhan Bank and Qatar National Cement. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Qatari German Medical Devices, Mekdam Holding, Al Khaleej Takaful, Qamco and Widam Food were among the losers in the main market. In the junior bourse, Mahhar Holding saw its shares depreciate in value.The foreign institutions’ net buying increased substantially to QR33.88mn compared to QR4.3mn on July 16.The Gulf institutions’ net buying strengthened significantly to QR27.88mn against QR14.05mn the previous day.The local retail investors’ net selling declined noticeably to QR12.68mn compared to QR30.11mn on Sunday.The foreign individuals’ net profit booking eased marginally to QR0.93mn against QR1.53mn on July 16.However, the domestic funds’ net selling grew considerably to QR46.53mn compared to QR0.15mn the previous day.The Arab individual investors turned net sellers to the tune of QR1.49mn against net buyers of QR12.74mn on Sunday.The Arab institutions’ net profit booking was up notably to QR0.14mn compared to QR0.01mn on July 16.The Gulf retail investors’ net buying weakened perceptibly to QR0.03mn against QR0.72mn the previous day.The main market saw a 31% decline in trade volumes to 128.18mn shares but on 4% jump in value to QR410.69mn and 26% in deals to 17,896.In the venture market, trade volumes shrank 26% to 0.75mn equities and value by 22% to QR1.57mn, while transactions were up 2% to 144.