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Wednesday, February 21, 2024 | Daily Newspaper published by GPPC Doha, Qatar.
 Santhosh V. Perumal
Santhosh V. Perumal
Santhosh V. Perumal, a postgraduate in Econometrics with an advance qualification in Capital Markets and Financial Services, is Gulf Times' journalist. His coverage areas are debt and equity, hydrocarbons, international trade, environment, banks, insurance and real estate. Previously, he was in New Delhi, India as Senior Finance Correspondent of PTI.
Notwithstanding buying interests in five of the seven sectors, the 20-stock Qatar Index settled 0.17% lower at 10,728.97 points Wednesday.
Business
QSE snaps 10-day winning streak as index edges down

The Qatar Stock Exchange (QSE) Wednesday snapped 10 consecutive days of bullish run and its key index fell 18 points, despite gainers outnumbering losers.Notwithstanding buying interests in five of the seven sectors, the 20-stock Qatar Index settled 0.17% lower at 10,728.97 points.The market had a rollercoaster ride with its key index touching an intraday high of 10,757 points and intraday low of 10,705 points.The banking and transport counters witnessed higher than average net profit booking in the main market, whose year-to-date gains truncated to 0.45%.The Gulf institutions’ weakened net buying had its influence on the main bourse, whose capitalisation was down QR0.3bn or 0.05% to QR628.4bn, mainly on account of microcap segments.However, more than 71% of the traded constituents extended gains to investors in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.16mn changed hands across eight deals.The foreign funds continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.17% and the All Share Index by 0.16%, while the Al Rayan Islamic Index (Price) rose 0.82% in the main bourse, whose trade turnover and volumes were on the decline.The banks and financial services sector index shrank 0.8% and transport (0.26%); while insurance shot up 1.9%, realty (1.48%), telecom (0.71%), industrials (0.45%) and consumer goods and services (0.3%).Major shakers in the main market included Beema, Nakilat, QNB, Commercial Bank, Alijarah Holding, Qatar Electricity and Water, Gulf International Services and Estithmar Holding.Nevertheless, Qatari German Medical Devices, Inma Holding, Widam Food, Qatar General Insurance and Reinsurance, Dlala, Masraf Al Rayan, Dukhan Bank, Salam International Investment, Mannai Corporation, Qamco, QLM, United Development Company and Milaha were among the gainers in the main market.In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The Gulf institutions’ net buying decreased substantially to QR15.19mn compared to QR54.49mn on May 9.The foreign retail investors’ net buying weakened marginally to QR2.86mn against QR3.18mn the previous day.However, the Arab individuals’ net buying increased noticeably to QR11.8mn compared to QR7.41mn on Tuesday.The foreign institutions’ net profit booking declined significantly to QR8.29mn against QR27.87mn on May 9.The domestic institutions’ net selling shrank considerably to QR12.17mn compared to QR25.8mn the previous day.The local retail investors’ net profit booking eased perceptibly to QR6.87mn against QR7.36mn on Tuesday.The Gulf retail investors’ net selling weakened markedly to QR2.48mn compared to QR3.94mn on May 9.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.1mn the previous day.The main market saw a 28% contraction in trade volumes to 271.27mn shares, 21% in value to QR607.42mn and 6% in deals to 20,902.

The real estate, insurance, transport, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.29% to 10,747 points.
Business
QSE enters 10th day of bullish run as index gain 31 points

The Qatar Stock Exchange Tuesday remained bullish for the 10th straight session as its key index gained more than 31 points, mainly on the back of strong buying interests from the Gulf institutions.The real estate, insurance, transport, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.29% to 10,747 points.The market, which was skewed towards movers, regained from an intraday low of 10,660 points.The Arab retail investors turned net buyers in the main market, whose year-to-date gains improved to 0.62%.The foreign individuals were also seen bullish in the main bourse, whose capitalisation added QR2.56bn or 0.41% to QR628.7bn, mainly on account of small and microcap segments.About 73% of the traded constituents extended gains to investors in the main market, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.14mn changed hands across 17 deals.The local retail investors’ weakened net profit booking had its influence in the main bourse, 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 gained 0.29%, All Share Index by 0.28% and Al Rayan Islamic Index (Price) by 0.51% in the main bourse, whose trade turnover and volumes were on the increase.The realty sector index shot up 1.13%, insurance (0.82%), transport (0.62%), consumer goods and services (0.57%), industrials (0.35%), telecom (0.33%) and banks and financial services (0.06%).Major movers included Doha Insurance, Ezdan, Lesha Bank, Inma Holding, Qatar Islamic Insurance, Masraf Al Rayan, Qatari German Medical Devices, Medicare Group, Mannai Corporation, Aamal Holding, Mesaieed Petrochemical Holding, Mazaya Qatar, United Development Company and Nakilat.Nevertheless, Qatar General Insurance and Reinsurance, QLM, Al Khaleej Takaful, Ahlibank Qatar, Qatar Industrial Manufacturing, Commercial Bank, Barwa, Vodafone Qatar and Milaha were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The Gulf institutions’ net buying increased substantially to QR54.49mn compared to QR38.21mn on May 8.The Arab individuals turned net buyers to the tune of QR7.41mn against net sellers of QR5.61mn the previous day.The foreign retail investors were net buyers to the extent of QR3.18mn compared with net sellers of QR6.49mn on Monday.The local retail investors’ net profit booking declined perceptibly to QR7.36mn against QR12.67mn on May 8.However, the foreign institutions turned net sellers to the tune of QR27.87mn compared with net buyers of QR8.56mn the previous day.The domestic institutions’ net profit booking increased noticeably to QR25.8mn against QR21.11mn on Monday.The Gulf retail investors’ net selling strengthened significantly to QR3.94mn compared to QR0.88mn on May 8.The Arab institutions’ net profit booking rose marginally to QR0.1mn against QR0.01mn the previous day.The main market saw a 12% jump in trade volumes to 378.96mn shares, 10% in value to QR770.27mn and less than 1% in deals to 22,139.

Gulf Times
Business
QSE gains 43 points; year-to-date returns turn positive

The Qatar Stock Exchange Monday gained more than 42 points and its key index surpassed 10,700 levels, thus entering a positive terrain on a year-to-date basis. .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[26286]**The insurance, telecom, real estate and transport sectors witnessed higher than average demand as the 20-stock Qatar Index rose 0.4% to 10,715.6 points.The market, which was skewed towards movers, regained from an intraday low of 10,557 points.The foreign institutions were increasingly into net buying in the main market, which showed year-to-date gains of 0.32%.The domestic funds’ weakened net profit booking had its influence in the main bourse, whose capitalisation added QR1.44bn or 0.23% to QR626.14bn, mainly on account of microcap segments.The local retail investors’ lower net selling pressure also had its say in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.65mn changed hands across 24 deals.The Gulf institutions continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index gained 0.4%, All Share Index by 0.33% and Al Rayan Islamic Index (Price) by 0.44% in the main bourse, whose trade turnover and volumes were on the increase.The insurance sector index shot up 1.77%, telecom (0.99%), realty (0.98%), transport (0.84%), consumer goods and services (0.71%) and banks and financial services (0.35%); while industrials declined 0.48%.About 69% of the traded constituents in the main market extended gains with major movers being Doha Insurance, Mazaya Qatar, Alijarah Holding, Qatari German Medical Devices, Al Khaleej Takaful, Commercial Bank, Lesha Bank, Salam International Investment, Medicare Group and Baladna. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Gulf International Services, Qamco, Zad Holding, Estithmar Holding and Inma Holding were among the losers in the main market.The foreign institutions’ net buying increased noticeably to QR8.56mn compared to QR4.64mn on May 7.The local retail investors’ net profit booking declined substantially to QR12.67mn against QR33.95mn on Sunday.The domestic institutions’ net selling decreased considerably to QR21.11mn compared to QR44.98mn the previous day.The Gulf retail investors’ net profit booking weakened markedly to QR0.88mn against QR4.17mn on May 7.However, the foreign individuals were net sellers to the tune of QR6.49mn compared with net buyers of QR2.79mn on Sunday.The Arab individuals’ net selling strengthened notably to QR5.61mn against QR0.93mn the previous day.The Arab funds turned net profit takers to the extent of QR0.01mn compared with net buyers of QR0.02mn on May 7.The Gulf institutions’ net buying shrank drastically to QR38.21mn against QR76.59mn on Sunday.The main market saw a 38% jump in trade volumes to 338.04mn shares, 32% in value to QR703.3mn and 52% in deals to 22,120.

Gulf Times
Business
QSE inches towards 10,700 levels as demand soars for insurance, realty and banking stocks

The Qatar Stock Exchange (QSE) Sunday opened the week on a stronger note with its key index gaining as much as 33 points to inch towards the 10,700 levels. .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[26079]** The insurance, real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index shot up 0.31% to 10,673.01 points. The market, which was skewed towards movers, nevertheless retreated from an intraday high of 10,706 points. The foreign institutions turned net buyers in the main market, whose year-to-date losses narrowed to mere 0.08%. The foreign individuals were also seen bullish in the main bourse, whose capitalisation added QR2.06bn or 0.33% to QR624.7bn, mainly on account of midcap segments. The Gulf institutions continued to be net buyers but with lesser intensity in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.56mn changed hands across 22 deals. The domestic institutions’ weakened net selling had its influence in the main bourse, 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 0.31%, the All Share Index by 0.55% and the Al Rayan Islamic Index (Price) by 0.21% in the main bourse, whose trade turnover and volumes were on the decline. The insurance sector index tanked 3.79%, real estate (1.5%), banks and financial services (1.02%) and consumer goods and services (0.66%); while telecom declined 1.05%, transport (0.59%) and industrials (0.46%). More than 54% of the traded constituents in the main market extended gains with major movers being Qatari German Medical Devices, Qatar Insurance, Qatar Industrial Manufacturing, Al Khaleej Takaful, Estithmar Holding, Qatar Islamic Bank, QNB, Mekdam Holding, Gulf International Services, Barwa and Mazaya Qatar. Nevertheless, Doha Insurance, Baladna, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Ooredoo, Qamco and Milaha were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. The foreign institutions turned net buyers to the tune of QR4.64mn compared with net sellers of QR9.38mn on May 4. The foreign individuals were net buyers to the extent of QR2.79mn against net profit takers of QR5.03mn last Thursday. The Arab funds turned net buyers to the tune of QR0.092mn compared with no major net exposure the previous day. The local retail investors’ net profit booking declined substantially to QR33.95mn against QR62.61mn on May 4. The domestic institutions’ net selling decreased considerably to QR44.98mn compared to QR66.74mn last Thursday. The Gulf retail investors’ net profit booking weakened perceptibly to QR4.17mn against QR6.05mn the previous day. However, the Arab individuals’ net selling increased marginally to QR0.93mn compared to QR0.33mn on May 4. The Gulf institutions’ net buying weakened noticeably to QR76.59mn against QR1501.9mn last Thursday. The main market saw a 10% contraction in trade volumes to 244.85mn shares, 20% in value to QR534.24mn and 40% in deals to 14,557.

Gulf Times
Business
CI affirms QIB's long and short term foreign currency rating

Global credit rating agency Capital Intelligence (CI) has affirmed long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) of Qatar Islamic Bank (QIB) at ‘AA-’ and ‘A1+’, respectively.CI has affirmed QIB’s bank standalone rating (BSR) of ‘a-’, core financial strength (CFS) rating of ‘a-’, and extraordinary support level (ESL) of ‘high’. The outlook for the LT FCR and BSR is "stable".QIB's LT FCR is set three notches above the BSR to reflect the high likelihood of official extraordinary support in case of need. This is based on the government’s strong track record of support for Qatari banks and its ownership stakes in all Qatari banks.The government’s financial capacity to support the bank is also considered to be strong given Qatar’s sovereign ratings.The lender's BSR is based on a CFS rating of ‘a-’ and an operating environment risk anchor (OPERA) of ‘bbb’. The OPERA for Qatar reflects the country’s very strong external balances, including very high current account surpluses as well as increasing foreign exchange reserves and significantly declining external debt.It also factors in the substantial volume of state assets under Qatar Investment Authority (QIA) management and Qatar’s very large hydrocarbon reserves.The CFS rating is supported by strong asset quality, strong profitability at both the operating and net levels, and robust capitalisation. Non-financial supporting factors include a strong franchise and market position as the leading Islamic bank in Qatar (and as the second largest bank in the system).These strengths are to a limited extent counterbalanced by the level of financing exposure to the real estate sector and by a degree of concentration in both deposits and financings.QIB’s asset quality is very good, while credit loss absorption capacity is strong. The non-performing financing (NPF) ratio has remained low over an extended period, and has exhibited rather less volatility than seen at some of its peers, remaining among the lowest in the sector. Credit loss absorption capacity has been consistently strong, while the historic net NPF accretion rate has tended to be low.Its profitability is strong and earnings quality is good, with the Bank again posting consistently good results. Profitability has been better than the sector average, supported by its broadly stable net financing margins, and a declining cost-to-income ratio – a function of high efficiency. CI expects QIB to continue to post better than average earnings metrics despite its risk-averse business model.Highlighting that QIB has a good liquidity and funding profile, the agency said it is largely funded by customer deposits, the bulk of which are diversified and relatively stable retail deposit balances.The bank’s dependence on foreign funding has been relatively low by Qatari banking sector standards and the proportion of non-deposit funding is lower than at most of its peers.QIB maintains robust liquidity buffers, with particularly strong liquidity metrics. Hence, liquidity risk is considered to be low. QIB’s capitalisation is solid by global standards, and the quality of capital is good.

The Qatar Stock Exchange defied an overall regional trend of a bearish run with its key index gaining as much as 495 points and capitalisation adding QR35bn this week, mainly on the back of strong first quarter corporate results.
Business
QSE index vaults 495 points; M-cap adds QR35bn

The Qatar Stock Exchange (QSE) defied an overall regional trend of a bearish run with its key index gaining as much as 495 points and capitalisation adding QR35bn this week,.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[24655]**mainly on the back of strong first quarter corporate results.The Gulf institutions were increasingly into net buying as the 20-stock Qatar Index shot up 4.87% this week which saw Ooredoo report net profit of QR960.57mn in the first quarter (Q1) of this year.The telecom, real estate and banking counters witnessed higher than average demand this week which saw Dukhan Bank’s Q1 net profit at QR413.96mn.The foreign institutions were increasingly net buyers this week which saw Qatar see a 475 basis points increase in interest rates since January 2022.Some 74% of the traded constituents extended gains to investors in the main market this week, which saw Doha’s new business growth within non-energy private sector accelerate further in April this year.However, the domestic funds were increasingly net profit takers in the main market this week which saw Qatar’s producer price index eases in March this year.The local retail investors were also increasingly net sellers in the main market this week, which saw a total of 0.37mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.88mn trade across 32 deals.The Islamic index was seen gaining slower than the other indices in the main market this week which saw as many as 0.48mn Doha Bank-sponsored exchange-traded fund QETF valued at QR4.81mn change hands across 264 transactions.The Arab retail investors were seen net profit takers this week which saw trade turnover and volumes on the increase in the main market.Market capitalisation was seen adding 5.93% to QR622.64bn on the back of large and midcap segments this week which saw the industrials and banking sectors together constitute more than 55% of the total trade volume in the main market.The Total Return Index zoomed 4.87%, the All Share Index by 5.04%, and the All Islamic Index by 4.05% this week, which saw no trading of sovereign bonds.The telecom sector index plummeted 8.99%, realty (7.33%), banks and financial services (6.36%), transport (4.19%), industrials (3.1%), consumer goods and services (1.27%) and insurance (0.61%) this week which saw no trading of treasury bills.Major gainers in the main market included Salam International Investment, Ezdan, Qatar Oman Investment, Mazaya Qatar, QNB, Commercial Bank, Lesha Bank, Masraf Al Rayan, Alijarah Holding, Qatari German Medical Devices, Baladna, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco, Barwa, Ooredoo, Vodafone Qatar and Milaha. In the venture market, Al Faleh Educational Holding’s shares appreciated in value this week.Nevertheless, Qatar Cinema and Film Distribution, Zad Holding, Estithmar Holding, Mekdam Holding ad Qatar Industrial Manufacturing were among the losers in the main market this week.The Gulf institutions’ net buying increased substantially to QR339.97mn compared to QR46.99mn the week ended April 27.The foreign institutions’ net buying expanded considerably to QR71.4mn against QR41.26mn a week ago.The Arab institutional investors’ net buying rose marginally to QR0.11mn compared to QR0.02mn the previous week.However, the domestic funds’ net selling grew significantly to QR266.55mn against QR85.06mn the week ended April 27.The local retail investors; net profit booking shot up drastically to QR103.11mn compared to QR19.53mn a week ago.The foreign individuals turned net sellers to the tune of QR20.45mn against net buyers of QR0.12mn the previous week.The Arab retail investors were net sellers to the extent of QR13.11mn compared with net buyers of QR16.7mn the week ended April 27.The Gulf individuals’ net profit booking strengthened perceptibly to QR8.27mn against QR0.49mn a week ago.Trade volumes in the main market more than tripled to 1.16mn shares and value almost tripled to QR2.86bn on more than doubled deals to 105,326.

The Qatar Central Bank on Wednesday increased the repo rate, deposit and lending rates by 25 basis points.
Business
Qatar records 4.75% increase in interest rates since January 2022

Qatar has seen a cumulative 4.75% or 475 basis points hike in interest rates since January 2022 after the central bank effected a 0.25% or 25 basis points increase in its key rates in view of the US Federal Reserve revising its reference rate in similar proportion.The Qatar Central Bank (QCB) on Wednesday increased the repo rate, deposit and lending rates by 25 basis points.The repo rate in Qatar has increased by a cumulative 4.75% or 475 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 and the 5.75% in May 2023.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 3.5% or 350bps 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 and the latest 6%. 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 6.27% in February 2023 against 3.82% in February 2022; on loans from one to three years to 6.91% (3.56%); on loans of three years and above to 6.67% (4.03%).Similarly, the QCB deposit rate has cumulatively jumped by 4.5% or 450bps, 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 and 5.5% in May 2023. The average deposit rate stood at 1% in 2021.In terms of customer deposits, time deposits of one-month was seen surging to 4.04% in February 2023 compared to 1.05% in February 2022; three-month deposits to 5.05% (1.51%); six-month deposits to 5.34% (1.76%); one-year to 4.31% (2%) and more than one year to 3.97% (1.86%).The weighted average overnight interbank interest rate (on riyal) stood at 5.02% in February 2023 compared to 0.37% in February 2022.The overnight rates noticeably shot up from July 2022 since it was much less than 1% in January-June 2022. In July, it was 1.68% from when it began zooming to 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 and 5.02% In February 2023.

The Gulf institutions were seen increasingly into net buying on Thursday as the 20-stock Qatar Index surged 1.48% to 10,639.9 points.
Business
QSE surpasses 10,600 level on increased net buying by Gulf funds

The Qatar Stock Exchange on Thursday defied the general declining trend in view of the 25 basis points rate hike by the US Federal Reserve as its key index surged 155 points to surpass 10,600 levels.The Gulf institutions were seen increasingly into net buying as the 20-stock Qatar Index surged 1.48% to 10,639.9 points.The market, which was skewed towards movers, saw the index regain from an intraday low of 10,496 points.The banking and telecom counters witnessed higher than average demand in the main market, whose year-to-date losses narrowed to mere 0.39%.The domestic funds’ weakened net selling had its say on the main bourse, whose capitalisation added QR10.8bn or 1.77% to QR622.64bn, mainly on account of large and midcap segments.The Arab retail investors’ lower net profit booking also had its influence in the main market, which saw a total of 0.22mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.55mn changed hands across 80 deals.The foreign retail investors were seen decreasingly into net profit booking in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining much slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index gained 1.48%, the All Share Index by 1.6% and the Al Rayan Islamic Index (Price) by 0.4% in the main bourse, whose trade turnover decreased amidst higher volumes.The banks and financial services sector index shot up 2.92%, telecom (2.52%), real estate 90.83%), transport (0.81%) and consumer goods and services (0.59%); while industrials and insurance declined 0.53% and 0.37% respectively.About 56% of the traded constituents in the main market extended gains with major movers being Ahlibank Qatar, Commercial Bank, Salam International Investment, QNB, Alijarah Holding, Qatari German Medical Devices, Gulf International Services, Ezdan, Mazaya Qatar, Ooredoo and Vodafone Qatar.Nevertheless, Qatar Industrial Manufacturing, Qatar Cinema and Film Distribution, QLM, Widam Food, Baladna, Inma Holding and Qamco were among the losers in the main market.In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The Gulf institutions’ net buying increased perceptibly to QR1501.9mn compared to QR145.09mn on May 3.The Arab individuals’ net selling declined substantially to QR0.33mn against QR2.15mn the previous day.The foreign individuals’ net profit booking weakened markedly to QR5.03mn compared to QR11.33mn on Wednesday.The domestic institutions’ net selling decreased considerably to QR66.74mn against QR83.75mn on May 3.However, the local retail investors’ net profit booking grew marginally to QR62.61mn compared to QR59.58mn the previous day.The foreign institutions were net sellers to the extent of QR9.38mn against net buyers of QR33.32mn on Wednesday.The Gulf retail investors’ net profit booking shot up significantly to QR6.05mn compared to QR1.06mn on May 3.The Arab institutions had no major net exposure against net sellers to the tune of QR0.4mn the previous day.The main market saw a 4% jump in trade volumes to 271.67mn shares but on 9% slump in value to QR670.33mn and 8% in deals to 24,202.

Yousuf Mohamed al-Jaida, CEO, QFC Authority.
Business
New business growth accelerates further in April: QFC PMI

Qatar saw new business growth accelerate further within the non-energy private sector in April; indicating a stronger improvement in business conditions on the back of strong demand for goods and services, according to the Qatar Financial Centre (QFC).The latest Purchasing Managers’ Index (PMI) survey data from the QFC said indices for total activity and the 12-month outlook also remained firmly positive, while employment rose further.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data."Overall business conditions across the non-energy private sector gained momentum at the start of the second quarter, mainly thanks to an acceleration in demand growth," Yousuf Mohamed al-Jaida, chief executive officer, QFC Authority, said.The headline PMI, a composite single-figure indicator of non-energy private sector performance, rose for the fifth time in six months to 54.4 in April, from 53.8 in March, indicating the strongest improvement in business conditions since July 2022. The latest figure moved further above the long-run trend of 52.2.The main boost to the PMI was from faster growth in new business, while the employment and stocks of purchases components also had positive directional influences. The output component eased slightly since March but remained above its long-run trend, with financial services again a key growth driver.New business increased at the fastest rate in nine months in April. Companies reported receiving large orders, expanded customer bases and rising demand due to the implementation of new projects. New products were also mentioned as sources of growth.The 12-month outlook for the non-energy private sector remained strongly positive. The Future Output index eased further from February's 41-month high but the average for 2023 so far, at 71.7, was well above the long-run trend of 64.6. By sector, confidence in April was strongest among manufacturers.April data indicated a third successive monthly increase in average wages and salaries, with pay pressures greater than the long-run trend. The employment index, tracking the overall level of staffing, rose to a nine-month high, signalling another increase in workforce numbers.Continuing the trend shown during 2023 so far, average input prices rose in April. That said, inflationary pressures remained modest and broadly in line with the long-run survey trend. Meanwhile, firms increased their charges for goods and services, having cut them in March.Although stronger new business inflows put pressure on capacity, companies were still able to reduce their levels of outstanding business for the ninth month running in April due to productivity improvements and increased workforces.The financial services sector in Qatar continued to expand at a marked rate in April as the volume of new business increased for the thirty-fifth consecutive month and at the fastest rate since last August. Overall financial services activity increased for the twenty-second successive month, and at a strong pace, while expectations remained firmly positive."The financial services sector continued to grow at a faster rate than the overall private sector economy in April, both in terms of total activity and new work, with the financial services new business index reaching 61.3," al-Jaida said.

Gulf Times
Qatar
Qatar's inbound visitors see 183.5% annual increase in March: PSA

Qatar's two- and one-star hotels witnessed improved rooms' yield this March on higher occupancy, as visitor arrivals surged, according to the Planning and Statistics Authority (PSA).The total number of inbound visitors was 433,000 in March, going up by 183.5% compared to the same month in 2022, and by 11.3% compared to February this year, the 111th issue of the PSA's Qatar Monthly Statistics bulletin showed.The visitor arrivals from the GCC were 164,410 or 38% of the total; followed by Europe with 114,681 or 26%; other Asia (including Oceania) with 85,234 or 20%; other Arab countries with 35,020 or 8%; the Americas with 26,567 or 6%; and other African countries with 7,202 or 2%.As for visitors by type of port, those coming by air made up the highest numbers with 47% of the total number of visitors, QNA reported.Visitor arrivals from the GCC countries increased 212% and 12.4% on a yearly and monthly basis, respectively, in March 2023.In the case of visitors from Europe, it soared 205.8% on an annualised basis this March but shrank 5.2% month-on-month.Visitors from other Asian countries (including Oceania) rose 130.6% and 19.3% on an annualised and monthly basis respectively this March.The visitor arrivals from other Arab countries reported a 198.4% and 51.5% increase year-on-year and month-on-month respectively in March 2023.In March 2023, the visitors from Americas were seen increasing 148.2% and 15.7% year-on-year and month-on-month.In the case of other African countries, the visitor arrivals witnessed 127% and 58% jump year-on-year and month-on-month respectively in March 2023.Meanwhile, the country's overall hospitality sector saw a 25.57% year-on-year decrease in average revenue per available room to QR262 in March 2023 as the average room rate shrank 19.6% to QR447 and occupancy by 4% to 59% in the review period, according to the PSA's data.The two-star and one-star hotels' average revenue per available room was seen increasing by 15.32% year-on-year to QR143 in March 2023 on the back of a 16% surge in occupancy to 90% although the average room rate dipped 4.79% to QR159.However, the five-star hotels saw the average revenue per available room shrink 16.98% on annualised basis to QR357 in March 2023 as the average room rate was down 7.42% to QR624 and the occupancy by 7% to 57%.The average revenue per available room in the four-star hotels tanked 36.16% on a yearly basis to QR143 in March 2023 as the average room rate declined 12.2% to QR259 and the occupancy by 21% to 55%.The three-star hotels saw a 28.28% year-on-year contraction in average revenue per available room to QR142 as average room rate shrank 9.22% to QR197 and the occupancy by 19% to 72% in the review period.The deluxe hotel apartments saw a 28.43 year-on-year plunge in average revenue available per room to QR219 in March 2023 as the average room rate decreased 28.95% to QR378; even as the occupancy was flat at 58% in the review period.In the case of standard hotel apartments, the room yield plummeted 31.88% year-on-year to QR156 in March 2023 even as the average room rate dropped 20.45% to QR249 and occupancy by 10% to 63%.

The foreign institutions were increasingly into net buying as the 20-stock Qatar Index rose 0.58% to 10,336.82 points
Business
QSE surpasses 10,300 level on increased net buying by foreign funds

The Qatar Stock Exchange Tuesday gained 60 points as its key index surpassed 10,300 levels, paced mainly by the transport, real estate and industrials sectors. .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[23691]** The foreign institutions were increasingly into net buying as the 20-stock Qatar Index rose 0.58% to 10,336.82 points. The market, which was skewed towards movers, saw the index regain from an intraday low of 10,208 points. The Arab individuals turned bullish in the main market, whose year-to-date losses narrowed further to 3.27%. The local retail investors’ lower net selling had its say on the main bourse, whose capitalisation added QR3.38bn or 0.57% to QR601.15bn, mainly on account of small cap segments. However, the domestic funds were increasingly into net selling in the main market, which saw a total of 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.66mn changed hands across 30 deals. The foreign retail investors were seen increasingly into net profit booking in the main bourse, which saw no trading of sovereign bonds. The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills. The Total Return Index gained 0.58%, the All Share Index by 0.57% and the Al Rayan Islamic Index (Price) by 0.74% in the main bourse, whose trade turnover decreased amidst higher volumes. The transport sector index shot up 1.55%, real estate (1.23%), industrials (0.98%), banks and financial services (0.39%) and consumer goods and services (0.35%); while telecom and insurance shrank 0.61% and 0.38% respectively. About 69% of the traded constituents in the main market extended gains with major movers being Aamal Company, Qatar Oman Investment, Salam International Investment, Widam Food, Qatari German Medical Devices, Masraf Al Rayan, Lesha Bank, Inma Holding, Mesaieed Petrochemical Holding, Gulf International Services, Barwa and Milaha. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value. Nevertheless, Qatar General Insurance and Reinsurance, QLM, Ooredoo, Estithmar Holding, Beema and Gulf Warehousing were among the losers in the main market. The foreign institutions’ net buying strengthened significantly to QR33.67mn compared to QR10.04mn on May 1. The Arab individuals turned net buyers to the tune of QR2.15mn against net sellers of QR3.26mn the previous day. The local retail investors’ net profit booking eased marginally to QR0.3mn compared to QR0.35mn on Monday. However, the domestic institutions’ net selling expanded perceptibly to QR40.2mn against QR36.56mn on May 1. The foreign individuals’ net profit booking strengthened markedly to QR2.72mn compared to QR0.39mn the previous day. The Gulf retail investors’ net selling increased marginally to QR0.98mn against QR0.15mn on Monday. The Arab institutions were net sellers to the extent of QR0.24mn compared with no major net exposure on May 1. The Gulf institutions’ net buying weakened substantially to QR8.61mn against QR30.65mn the previous day. The main market saw a 4% jump in trade volumes to 201.36mn shares but on a marginal 0.22% slump in value to QR495.48mn amidst 20% higher deals at 22,304.

Gulf Times
Business
Qatar records strong surge in cargo, livestock and building materials movement through ports in April

Qatar witnessed a robust expansion in cargo, livestock and building materials movement through its ports on an annualised basis in April this year, indicating the strong growth parameters in the domestic economy, according to official statistics.The three ports – Hamad, Doha and Al Ruwais – showed a double-digit expansion in terms of RORO (vehicles) and livestock on monthly basis in the review period, according to figures released by Mwani Qatar.The number of ships calling on Qatar's three ports stood at 228 this April, which however was down 7.69% and 1.3% year-on-year and month-on-month respectively.Hamad Port, which offers opportunities to create cargo movement towards the upper Gulf, supporting countries such as Kuwait and Iraq and south towards Oman – saw as many as 142 vessels call on the port in the review period.As many as 892 ships had called on three ports in the first four months of this year.The general cargo handled through the three ports was 249,866 tonnes in April 2023, which showed a 114% surge on yearly basis, while it fell 15.86% month-on-month.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO (vehicles), grains and livestock – handled 161,026 freight tonnes of breakbulk and 85,200 freight tonnes of bulk in April this year.On a cumulative basis, the general cargo movement through the three ports amounted to 867,507 tonnes during January-April 2023.The three ports handled 70,182 livestock heads in April 2023, which zoomed 632% on a yearly basis and 31.94% month-on-month. Hamad Port saw a total of 1,301 livestock heads pass through it.The three ports together handled as many 222,089 livestock heads in the first four months of this year.The three ports handled 8,025 RORO in April 2023, which registered 2.14% and 14.53% gains year-on-year and month-on-month respectively. Hamad Port alone handled 7,992 units in April 2023.The three ports together handled as many as 26,405 vehicles during January-April.The container handling through three ports stood at 103,939 TEUs (twenty-foot equivalent units), which fell 2.54% and 8.89% year-on-year and month-on-month respectively in April 2023.Hamad Port, which is the largest eco-friendly project in the region and internationally recognised as one of the largest green ports in the world, saw 103,315 TEUs of containers handled in the review period.The container handling through the three ports stood at 441,749 TEUs during January-April 2023.The container terminals have been designed to address the increasing trade volume, enhancing ease of doing business as well as supporting the achievement of economic diversification, which is one of the most important goals of the Qatar National Vision 2030.The building materials traffic through the three ports stood at 36,460 tonnes in April 2023, which zoomed 15.33% year-on-year but plummeted 28.47% month-on-month in the review period.A total of 171,097 tonnes of building materials had been handled by these ports in January-April 2023.

File photo shows a part of the Ras Laffan Industrial City, Qatar's principal site for the production of liquefied natural gas and gas-to-liquids. The mining PPI in Qatar decreased 2.94 month-on-month this March as the average selling price of crude petroleum and natural gas declined 2.94%, even as that of stone, sand, and clay was flat.
Business
Industrial producers see lower price pressure in March 2023: PSA

Qatar's producers' price index (PPI), which captures the price pressure felt by the producers of goods and services, witnessed a declining trend both on an annual and monthly basis this March, according to official estimates.The 16.88% plunge in the country's PPI on an annualised basis has been on account of the hydrocarbons and certain manufacturing businesses such as chemicals, basic metals and recorded media, according to the figures released by the Planning and Statistics Authority (PSA).The PPI was down 2.56% month-on-month in March 2023 owing to refined petroleum products and extraction of natural resources.The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.The mining PPI, which carries the maximum weight of 82.46%, saw a 16.3% plunge on a yearly basis in March 2023 as the average price of crude petroleum and natural gas was seen plummeting 16.31% and other mining and quarrying by 1.89%.The mining PPI decreased 2.94 month-on-month this March as the average selling price of crude petroleum and natural gas declined 2.94%, even as that of stone, sand, and clay was flat.The manufacturing sector PPI, which has a weight of 15.85% in the basket, tanked 22.03% on a yearly basis in March 2023 due to a 28.58% plunge in the average price of chemicals and chemical-related products, 18.58% in refined petroleum products and 12.93% in basic metals.Nevertheless, there was a 5.52% increase in the average price of food products, 4.7% in rubber and plastics products, 2.8% in printing and reproduction of recorded media, 1.2% in beverages and 0.49% in cement and other non-metallic mineral products.The manufacturing PPI fell 0.76% month-on-month year in March 2023 on account of a 2.39% slump in the average price of refined petroleum products, basic metals, 0.95% in chemicals and chemical-related products, 0.34% in food products, 0.29% in cement and other non-metallic mineral products, and 0.05% in beverages.However, there was a 2.76% surge in the average price of rubber and plastics products and 1.62% in basic metals.The index of electricity, gas, steam, and air conditioning supply saw an 11.76% and 1.02% increase on a yearly and monthly basis respectively this March.The index of water supply was seen expanding 8.64% year-on-year but shrank 1.78% month-on-month in March 2023.

Gulf Times
Business
QSE inches towards 10,300 points as Gulf funds up net buying

The Qatar Stock Exchange Monday gained 91 points and its key index inched towards 10,300 levels, on the back of buying interests, mainly in the telecom and real estate sectors..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[23141]**The Gulf funds were seen increasingly into net buying as the 20-stock Qatar Index rose 0.89% to 10,272.32 points.The market, which was skewed towards movers, saw the index regain from an intraday low of 10,208 points.The foreign institutions’ increased net buying had its influence in the main market, whose year-to-date losses narrowed further to 3.83%.The foreign retail investors’ lower net selling also had its say in the main bourse, whose capitalisation added QR7.33bn or 1.24% to QR597.77bn, mainly on account of mid and small cap segments.However, the Arab individuals were seen bearish in the main market, which saw a total of 0.22mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.51mn changed hands across 65 deals.The local retail investors were seen net sellers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index gained 0.89%, All Share Index by 0.94% and Al Rayan Islamic Index (Price) by 0.99% in the main bourse, whose trade turnover increased amidst lower volumes.The telecom sector index shot up 4.23%, real estate (2.66%), banks and financial services (0.93%), transport (0.82%) and industrials (0.54%); while consumer goods and services declined 0.07% and insurance (0.03%).About 48% of the traded constituents in the main market extended gains with major movers being Beema, Ooredoo, Alijarah Holding, Al Khaleej Takaful, Qatar General Insurance and Reinsurance, QNB, Baladna, Industries Qatar, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar, Ezdan and Milaha. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Inma Holding, Widam Food, Mekdam Holding, Estithmar Holding, Mannai Corporation, Qatari German Medical Devices, Qamco and Nakilat were among the losers in the main market.The Gulf institutions’ net buying increased substantially to QR30.65mn compared to QR5.49mn on April 30.The foreign funds’ net buying strengthened significantly to QR10.04mn against QR3.73mn the previous day.The domestic institutions’ net selling decreased perceptibly to QR36.56mn compared to QR39.3mn on Sunday.The foreign individuals’ net profit booking weakened marginally to QR0.39mn against QR0.98mn on April 30.However, the Arab individuals turned net sellers to the tune of QR3.26mn compared with net buyers of QR11.43mn the previous day.The local retail investors were net sellers to the extent of QR0.35mn against net buyers of QR19.72mn on Sunday.The Gulf retail investors’ net profit booking rose marginally to QR0.15mn compared to QR0.01mn on April 30.The Arab institutions had no major net exposure against net sellers to the tune of QR0.06mn the previous day.The main market saw a 19% contraction in trade volumes to 193.11mn shares but on 8% jump in value to QR496.55mn and 35% in deals to 18,649.

The local retail investors were seen net buyers as the 20-stock Qatar Index rose 0.35% to 10,131.23 points Sunday.
Business
Local, Arab retail investors’ buying support lifts QSE; Islamic index outperforms

The Qatar Stock Exchange Sunday opened the week on a stronger note with its key index gaining as much as 36 points, paced mainly by the real estate and insurance sectors. The local retail investors were seen net buyers as the 20-stock Qatar Index rose 0.35% to 10,131.23 points. The market, which was skewed towards movers, however, saw the index touch an intraday high of 10,246 points. The domestic institutions’ weakened net selling had its influence on the main market, whose year-to-date losses narrowed further to 4.68%. The foreign institutions continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR2.51bn or 0.43% to QR590.44bn, mainly on account of midcap segments. Similarly, the Arab funds continued to be bullish but with lesser intensity in the main market, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.78mn changed hands across 56 deals. The foreign retail investors were seen net sellers in the main bourse, which saw no trading of sovereign bonds. The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills. The Total Return Index gained 0.35%, the All Share Index by 0.3% and the Al Rayan Islamic Index (Price) by 0.81% in the main bourse, whose trade turnover declined amidst higher volumes. The real estate sector index shot up 2.16%, insurance (1.74%), industrials (0.94%), transport (0.54%) and banks and financial services (0.05%); whereas telecom shrank 1.8% and consumer goods and services (0.35%). More than 55% of the traded constituents in the main market extended gains with major movers being Lesha bank, Qamco, Ezdan, Widam Food, QLM, Masraf Al Rayan, Salam International Investment, Qatari German Medical Devices, Baladna, Industries Qatar, Al Khaleej Takaful, Barwa, Mazaya Qatar, Vodafone Qatar and Milaha. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value. Nevertheless, Qatar Cinema and Film Distribution, Ooredoo, Zad Holding, Gulf International Services, Estithmar Holding, QIIB and Nakilat were among the losers in the main market. The local retail investors turned net buyers to the tune of QR19.72mn compared with net sellers of QR13.57mn on April 27. The Arab individuals’ net buying increased substantially to QR11.43mn against QR7.79mn the previous trading day. The domestic institutions’ net selling decreased drastically to QR39.3mn compared to QR54.71mn last Thursday. However, the foreign individuals were net sellers to the extent of QR0.98mn against net buyers of QR1.11mn on April 27. The Arab institutions turned net sellers to the tune of QR0.06mn compared with net buyers of QR0.2mn the previous trading day. The Gulf retail investors were net profit takers to the extent of QR0.01mn against net buyers of QR0.18mn last Thursday. The foreign funds’ net buying weakened significantly to QR3.73mn compared to QR29.43mn on April 27. The Gulf institutions’ net buying shrank markedly to QR5.49mn against QR29.59mn the previous trading day. The main market saw a 31% jump in trade volumes to 237.26mn shares but on 11% contraction in value to QR460.89mn and 28% in deals to 13,796.

"While the North Field LNG project will boost growth over the coming years, more FDI is needed to increase the production capacity of LNG, given the large proven gas reserves," Garbis Iradian, chief economist (Middle East and North Africa), IIF, said in a latest report ‘GCC: Resilient Despite Headwinds.’
Business
More FDI needed to enhance Qatar's LNG production capacity: IIF

The North Field LNG (liquefied natural gas) project will enhance Qatar's economic growth in the future but more foreign direct investment (FDI) is needed to further monetise from it, according to the Institute of International Finance (IIF), an US-based economic think-tank."While the North Field LNG project will boost growth over the coming years, more FDI is needed to increase the production capacity of LNG, given the large proven gas reserves," Garbis Iradian, chief economist (Middle East and North Africa), IIF, said in a latest report ‘GCC: Resilient Despite Headwinds.’The country’s hydrocarbon bellwether is expected to raise the country’s LNG production capacity to 126mn tonnes per annum by 2027, a 64% increase from the current level."This would boost medium-term prospects and strengthen the fiscal and the external positions," the report said.Recently, a high-level delegation, led by HE Saad bin Sherida al-Kaabi, the Minister of State for Energy Affairs, also the president and chief executive officer of QatarEnergy and chairman of Qatargas, took stock of the progress of the NFE (North Field expansion) project, which includes six new LNG trains with a capacity of 8mtpa each, and associated utility and offsite facilities.The NFE project comprises the North Field East (NFE) and the North Field South (NFS) expansion projects and is the industry’s largest ever LNG project.Qatar's gas production is expected to increase to 3.62mn barrels per day of oil equivalent in 2024 compared to 3.39mn in 2023 and 3.21mn in 2022.Expecting average oil prices to decline from $100 a barrel in 2022 to $85 in 2023 and $80 in 2024; IIF said the main downside risk to the oil price forecast is weaker than-expected global growth.Oil production cuts would drag down overall the country's real GDP growth to 2.2% in 2023, it said, adding growth picked up to 4.5% in 2022, supported by higher gas production and prices and an increase in economic activity related to the FIFA World Cup."We expect the fiscal surplus to remain large despite the moderation in oil and gas prices, as spending on infrastructure will start to decline," the report said.On the oil market, IIF said crude prices have declined substantially from their peak reached in June 2022, as the slowing global economy weakened demand for oil, and as supply from the US, Brazil, Canada, and Guyana increased "significantly". China’s oil consumption in 2022 declined for the first time in several decades, amid shutdowns in response to Covid outbreaks, it said, adding tighter global financial conditions, the recent collapse of Silicon Valley Bank, and the forced takeover of Credit Suisse by UBS, raised the risks of much weaker global demand for oil.The fiscal balance is expected to be 7.4% of gross domestic product of GDP) in 2024 against 5.7% in 2023 and as high as 9.9% in 2022.The IIF report also said the country's banking system remains "well capitalised", liquid, and with low NPLs or non-performing loans."However, commercial bank’s large net foreign liability position may pose potential risks as global financial conditions have tightened," it said.

Despite the truncated session, the 20-stock Qatar Index shot up 2.17% or 215 points and capitalisation add as much as QR12bn this week which saw a Kamco Investor report that found Qatar registered a robust 69.2% year-on-year increase in total value of projects awarded in the first quarter of this year.
Business
Index vaults 215 points; M-cap adds QR12bn despite truncated session in QSE

The Qatar Stock Exchange (QSE) witnessed more than 85% of the traded constituents extend gains to investors this week, which had only two trading sessions in view of the Eid holidays.Despite the truncated session, the 20-stock Qatar Index shot up 2.17% or 215 points and capitalisation add as much as QR12bn this week which saw a Kamco Investor report that found Qatar registered a robust 69.2% year-on-year increase in total value of projects awarded in the first quarter of this year.The transport, telecom and industrials counters witnessed higher than average demand this week which saw Doha Bank report net profit of QR209mn in the first three months of this year.The Gulf institutions were increasingly net buyers this week which saw Gulf Warehousing register net profit of QR61.5mn at the end of first quarter ended March 31, 2023.The foreign institutions were seen net buyers in the main market this week, which saw Mekdam Holding disclose its plans to garner as much as QR75.3mn through a rights issue.The Arab retail investors turned bullish in the main market this week which saw Qatar’s trade surplus amount to QR21.27bn in March this year.However, the domestic institutions were increasingly net sellers in the main market this week, which saw a total of 0.12mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.27mn trade across nine deals.The Islamic index was seen gaining slower than the other indices in the main market this week which saw as many as 0.16mn Doha Bank-sponsored exchange-traded fund QETF valued at QR1.55mn change hands across 86 transactions.The local retail investors were seen net profit takers this week which saw trade turnover and volumes were on the decline in the main market.Market capitalisation was seen adding 2.03% to QR587.93bn on the back of large and midcap segments this week which saw the industrials and banking sectors together constitute more than 58% of the total trade volume in the main market.The Total Return Index zoomed 2.17%, the All Share Index by 2.04%, and the All Islamic Index by 1.72% this week, which saw no trading of sovereign bonds.The transport sector index shot up 4.35%, telecom (3.31%), industrials (2.7%), banks and financial services (1.66%), consumer goods and services (1.31%) and insurance (0.5%); while real estate was down 0.06% this week which saw no trading of treasury bills.Major gainers in the main market included Inma Holding, Qatar German Medical Devices, Dlala, Alijarah Holding, Qatar Islamic Bank, QNB, Commercial Bank, Industries Qatar, Gulf International Services, Qamco, Al Khaleej Takaful, Ezdan, Ooredoo, Milaha and Nakilat this week.Nevertheless, United Development Company, Dukhan Bank, Doha Bank, Beema and Mannai Corporation were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value this week.The Gulf institutions’ net buying increased substantially to QR46.99mn compared to QR24.34mn the week ended April 20.The foreign institutions turned net buyers to the tune of QR41.26mn against net sellers of QR31.36mn a week ago.The Arab individuals were net buyers to the extent of QR16.7mn compared with net sellers of QR21.05mn the previous week.However, the domestic funds’ net profit booking grew significantly to QR85.06mn against QR28.5mn the week ended April 20.The local retail investors turned net sellers to the tune of QR19.53mn compared with net buyers of QR51.6mn a week ago.The Gulf individuals were net profit takers to the extent of QR0.49mn against net buyers of QR1.02mn the previous week.The foreign individuals’ net buying weakened noticeably to QR0.12mn compared to QR3.89mn the week ended April 20.The Arab institutional investors’ net buying eased marginally to QR0.02mn against QR0.05mn a week ago.The main market witnessed a 22% shrinkage in trade volumes to 343.15mn shares, 24% in value to QR1bn and 33% in deals to 40,245.

The QSE
Business
QSE crosses 10,100 levels as Gulf and foreign institutions up their net buying

The Qatar Stock Exchange on Thursday gained another 73 points and its key index crossed the 10,100 levels, on the back of buying interests, especially in telecom, industrials and transport counters.The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.72% to 10,145.38 points.The market, which was skewed towards movers, saw the index recover from an intraday low of 9,994 points.The foreign institutions were also increasingly bullish in the main market, whose year-to-date losses narrowed further to 5.02%.The foreign retail investors turned net buyers in the main bourse, whose capitalisation added QR4.48bn or 0.71% to QR587.93bn, mainly on account of midcap segments.Both Arab funds and the Gulf were seen net buyers, albeit at lower levels, in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.78mn changed hands across 36 deals.However, the domestic funds were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index was up 0.72%, the All Share Index by 0.64% and the Al Rayan Islamic Index (Price) by 0.92% in the main bourse, whose trade turnover and volumes were on the increase.The telecom sector index zoomed 2.75%, industrials (1.51%), transport (1.02%), consumer goods and services (0.62%), real estate (0.3%) and banks and financial services (0.16%); while insurance declined 1.26%.More than 71% of the traded constituents in the main market extended gains with major movers being Inma Holding, Qatari German Medical Devices, Qatar Industrial Manufacturing, Qamco, Ooredoo, Lesha Bank, Baladna, Industries Qatar and Ezdan.In the venture market, Al Faleh Holding saw its shares appreciate in value.Nevertheless, Doha Bank, Qatar Insurance, Medicare Group, Gulf Industrial Services and Qatar Islamic Bank were among the losers in the main market.The Gulf institutions’ net buying strengthened substantially to QR29.59mn compared to QR17.39mn on April 26.The foreign institutions’ net buying increased significantly to QR29.43mn against QR11.83mn the previous day.The foreign individuals turned net buyers to the tune of QR1.11mn compared with net sellers of QR1mn on Wednesday.The Arab institutions were net buyers to the extent of QR0.2mn against net profit takers of QR0.2mn on April 26.The Gulf retail investors turned net buyers to the tune of QR0.18mn compared with net sellers of QR0.66mn the previous day.However, the domestic institutions’ net selling increased drastically to QR54.71mn against QR30.34mn on Wednesday.The local retail investors’ net profit booking grew noticeably to QR13.57mn compared to QR5.96mn on April 26.The Arab individuals’ net buying weakened marginally to QR7.79mn against QR8.93mn the previous day.The main market saw an 11% jump in trade volumes to 180.48mn shares and 7% in value to QR518mn but on 9% decrease in deals to 19,173.