Author

Thursday, February 02, 2023 | 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
World Cup helps Qatar hotel rooms' yield surge in excess of 200% in November

Doha's hospitality sector saw a more-than-200% surge year-on-year in rooms' yield, notably in deluxe hotel apartments, in November 2022, as Qatar registered more than five-fold jump in visitors, particularly from Americas and the Gulf, in view of the FIFA World Cup kicking off by the third week, according to the official data.In November 2022, the hospitality sector saw the average room rates increase in the range of 107% to 324% on an annualised basis, while visitors' growth in the range of 233% to 1,959%, according to figures released by the Planning and Statistics Authority (PSA).The country's overall hospitality sector saw a 230.45% year-on-year surge in average revenue per available room to QR1,031 in November 2022 as the average room rate zoomed 308.72% to QR1,827. Occupancy was nevertheless seen declining 14% to 56% in the review period.This upward trend in the hospitality sector’s room yield comes amidst a 430.3% year-on-year surge in visitor arrivals to 591,738 in November 2022 with majority coming from the Americas and the Gulf Co-operation Council (GCC) countries.The visitor arrivals from the Americas were 135,635 or 23% of the total, followed by the GCC 128,423 or 22%, other Asia (including Oceania) 115,060 or 19%, Europe 113,288 or 19%, other Arab countries 85,414 or 14% and other African countries 13,918 or 2%.The visitor arrivals from the Americas zoomed about 21-fold year-on-year (1,959.1%) in the review period; followed by other African countries 861.9%, other Arab countries (496.9%), Europe (465.2%), other Asia, including Oceania (276.1%) and the GCC (232.7%).In the case of five-star hotels, the average revenue per available room soared 221.03% on annualised basis to QR1,374 in November 2022 as the average room rate skyrocketed 324.39% to QR2,610. The occupancy was seen dropping 17% to 53% in November 2022.The average revenue per available room in the four-star hotels shot up 203.46% on a yearly basis to QR613 in November 2022 as the average room rate jumped 322.11% to QR1,057. The occupancy plummeted 19% to 61% in the review period.The three-star hotels saw a 140.3% year-on-year jump in average revenue per available room to QR483 as average room rate grew 253.36% to QR788 in November 2022. The occupancy shrank 12% to 78% in the review period.The two-star and one-star hotels' average revenue per available room shot up 132.64% year-on-year to QR335 in November this year as the average room rate grew 106.99% to QR385 and occupancy by 15% to 92%.The deluxe hotel apartments saw a 346.12% year-on-year expansion in average revenue available per room to QR919 in November 2022 as the average room rate in the category was shooting up 303.47% on an annualised basis to QR1,513 but the occupancy shrank 3% to 52% in the review period.In the case of standard hotel apartments, the room yield improved by 132.78% year-on-year to QR419 in November 2022. The average room rate shot up 244.14% to QR764, even as occupancy fell 14% to 75% in the review period.

Gulf Times
Business
QSE inches near 11,500 levels as sentiments improve on global factors

Reflecting the global sentiments on oil gains in view of expected demand recovery in China, the Qatar Stock Exchange (QSE) Monday rose more than 169 points and its key index inched towards 11,500 levels and capitalisation added in excess of QR10bn.An across the board buying, especially in industrials, banking and insurance counters, led the 20-stock Qatar Index surge 1.5% to 11,466.7 points, recovering from an intraday low of 11,329 points.The foreign institutions were seen net buyers in the main market, whose year-to-date gains improved further to 7.36%.More than 82% of the traded constituents extended gains in the main bourse, whose capitalisation saw QR10.48bn or 1.64% increase to QR649.95bn, mainly led by mid and small cap segments.The Gulf institutions were increasing into net buying in the main market, which saw a total of 0.31mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.83mn changed hands across 18 deals.The foreign retail investors were seen increasingly bullish in the main bourse, which saw no trading of sovereign bonds.The Islamic index gained slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shot up 1.5%, All Share Index by 1.56% and Al Rayan Islamic Index (Price) by 1.25% in the main bourse, whose trade turnover and volumes were on the increase.The industrials sector index soared 1.93%, banks and financial services (1.67%), insurance (1.6%), consumer goods and services (1.43%), telecom (0.91%), real estate (0.74%) and transport (0.42%).Major gainers in the main market included Qamco, Mannai Corporation, Doha Bank, Mesaieed Petrochemical Holding, Medicare Group, QNB, Commercial Bank, QIIB and Qatar National Cement.Nevertheless, QLM, Dlala, Qatari German Medical Devices, Milaha and Mekdam Holding were among the shakers 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 QR72.74mn compared with net sellers of QR18.01mn on January 8.The Gulf institutions’ net buying increased significantly to QR29.19mn against QR12.16mn the previous day.The foreign retail investors’ net buying expanded perceptibly to QR4.26mn compared to QR1.02mn on Sunday.However, the domestic funds were net sellers to the extent of QR52.23mn against net buyers of QR0.82mn on January 8.The local retail investors’ net profit booking strengthened considerably to QR35.09mn compared to QR6.3mn the previous day.The Arab individuals turned net sellers to the tune of QR16.33mn against net buyers of QR9.8mn on Sunday.The Gulf retail investors were net profit takers to the extent of QR2.54mn compared with net buyers of QR0.51mn on January 8.The Arab institutions had no major net exposure for the second straight session.The main market saw a 28% surge in trade volume to 158.36mn shares, 41% in value to QR568.85mn and 42% in deals to 20,201.The venture market witnessed as many as 9,873 equities valued at QR12,009 change hands across two transactions.

Gulf Times
Business
Meeza IPO to raise QR847mn to QR912mn; listing expected in March

Meeza QSTP, a leading provider of end-to-end IT services in Qatar, is aiming to garner as much as QR847mn to QR912mn through its initial public offering (IPO), whose process is slated to begin on January 15.In a first in the country's capital market, the IPO is being undertaken by book-building route through which Meeza is offering 324.49mn shares, amounting to 50% of the total issued share capital of the company.Meeza has obtained the Qatar Financial Market Authority’s approval to commence the book-building process, which will be used for the first time in Qatar’s financial markets, to determine the offering price of the company’s shares in preparation for proceeding with offering 50% of its capital to institutional and individual investors within the next few weeks, said a communique from the Qatar Stock Exchange (QSE).The book-building mechanism is used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security, a QSE spokesman said.Meeza’s shares are expected to start trading from the mid of March. After that, the total number of listed companied would become 50. At present, there are 48 constituents and one more (Beema) is expected to start trading from January 16.Meeza’s offer shares are currently owned by the founders Qatar Foundation for Education, Science and Community Development, which holds 259.59mn shares and Ooredoo 64.09mn.The offer shares will be sold by the founders. The total offering size is expected to be between QR846.92mn and QR911.82mn.During the book-building subscription period, which starts on January 15, the company will be offering a minimum of 30% of the total offering, and maximum of 50% of the total offering to qualified investors, with the final percentage offered and final offer share price to be determined based on qualified investor orders within the price range.The price range of Meeza's shares has been set between QR2.61 and QR2.81 per share with a nominal value of QR1; implying an issuance premium ranging from QR1.6 to QR1.8. Besides, the offer will have IPO fees of QR0.01 per share.The final price per offer share will be determined after the completion of the book building process.After the completion of the book building subscription period, the remaining 50%-70% of the total offering will be made available to the general public during the individuals and corporates subscription period, which will begin on February 12, in accordance with the procedures and tranches applied with the allotment strategy specified in the offering prospectus.The company has appointed QNB as the lead receiving bank for the IPO subscription and QInvest as the listing advisor and offering manager.

Gulf Times
Business
Chinese step helps QSE climb 150 points; M-cap gains QR8bn

The Qatar Stock Exchange (QSE) on Sunday opened the week on a stronger note as its key index vaulted 150 points to inch towards 11,300 levels and capitalisation added about QR8bn in view of expected demand recovery in China after the Asian country lifted Covid restrictions.The industrials sector witnessed higher than average demand as the 20-stock Qatar Index rose 1.37% to 11,297.58 points, recovering from an intraday low of 11,130 points.The Gulf institutions were seen net buyers in the main market, whose year-to-date gains improved further to 5.77%.The Arab and foreign individuals turned bullish in the main bourse, whose capitalisation saw QR7.54bn or 1.19% increase to QR639.47bn, mainly led by large and midcap segments.More than 80% of the traded constituents extended gains in the main market, which saw a total of 1.28mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR3.16mn changed hands across 40 deals.The local retail investors’ weakened net profit booking pressure had its influence in the main bourse, which saw no trading of sovereign bonds.The Islamic index gained slower than the main barometer in the main market, which saw no trading of treasury bills.The Total Return Index shot up 1.37%, All Share Index by 1.21% and Al Rayan Islamic Index (Price) by 1.27% in the main bourse, whose trade turnover and volumes were on the decrease.The industrials sector index soared 2.26%, banks and financial services (1.13%), consumer goods and services (1.06%), real estate (0.89%), telecom (0.31%) and transport (0.23%); while insurance declined 0.53%.Major gainers in the main market included Gulf International Services, Qatar Oman Investment, Industries Qatar, Commercial Bank, Mannai Corporation, Masraf Al Rayan, Alijarah Holding, Qatari German Medical Devices, Salam International Investment, Mannai Corporation, Mesaieed Petrochemical Holding, Qamco and Mazaya Qatar. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Qatar Insurance, Doha Insurance, Medicare Group, Zad Holding and Gulf Warehousing were among the losers in the main market.The Gulf institutions turned net buyers to the tune of QR12.16mn compared with net sellers of QR15.75mn on January 5.The Arab individuals were net buyers to the extent of QR9.8mn against net profit takers of QR7.02mn the previous day.The foreign retail investors turned net buyers to the tune of QR1.02mn compared with net sellers of QR0.09mn last Thursday.The domestic funds were net buyers to the extent of QR0.82mn against net profit takers of QR31.6mn on January 5.The Gulf retail investors turned net buyers to the tune of QR0.51mn compared with net sellers of QR0.3mn the previous day.The local retail investors’ net profit booking weakened noticeably to QR6.3mn against QR11.73mn last Thursday.However, the foreign institutions were net sellers to the extent of QR18.01mn compared with net buyers of QR66.49mn on January 5.The Arab institutions had no major net exposure against net buyers to the tune of QR0.01mn the previous day.The main market saw a 10% fall in trade volume to 123.8mn shares, 27% in value to QR404.97mn and 30% in deals to 14,179.

Gulf Times
Business
Islamic banks report faster credit growth than conventional peers in November: QCB

The credit extended by Islamic banks in Qatar grew faster than that by traditional lenders and the overall loan growth in the banking sector in November 2022 on an annualised basis, according to the Qatar Central Bank (QCB) data.The country’s banking sector saw a healthy double-digit expansion in credit extended by foreign Islamic lenders. Moreover, the domestic credit outgo from foreign banks was seen growing faster than that from the local lenders, said the central bank data.The commercial banks in Qatar witnessed an overall 0.69% year-on-year jump credit to QR1.23tn in November 2022.In the case of foreign banks, their total credit shot up 15.47% on an annualised basis to QR17.24bn as domestic loans expanded more than 16% to QR17.16bn in November 2022.The local lenders witnessed a marginal 0.51% growth year-on-year to QR1.21tn in November 2022 as the 1.22% jump in domestic credit was to a great extend masked by an 11% decline in overseas credit.Within the foreign banks, credit from Arab lenders shot up 17.74% on a yearly basis to QR7.5bn and that from non-Arab by 15% to QR9.66bn at the end of November.In the case of Qatari banks, the traditional lenders’ credit witnessed a 2.18% shrinkage year-on-year to QR784.23bn; whereas that of Islamic lenders reported a 9.77% increase to QR358.81bn at the end of November 2022.Of the Qatar banks' total domestic credit of QR1.15tn, the bulk of it went to the public sector, which received QR350.86bn or 31% of the total, followed by services QR236.26bn (21%), real estate QR174.11bn (15%), consumption QR165.38bn (14%), general trade QR159.05bn (14%), contractors QR38.56bn (3%) and industry QR21.23bn (2%).In the case of local traditional banks, the domestic credit to public sector amounted to QR277.55bn, followed by services QR178.26bn, general trade QR131.35bn, realty QR102.62bn, consumption QR60.65bn, contractors QR20.68bn and industry QR10.42bn in November 2022.The local Shariah-principled lender's bulk of the domestic credit was directed towards consumption (QR104.73bn), public sector (QR73.31bn), real estate (QR71.48bn), services (QR55.85bn), general trade (QR27.11bn), contractors (QR17.89bn) and industry (QR7.04bn) during the review period.Within foreign banks, the bulk of domestic credit went to general trade, which constituted 35% of the total or QR6.07bn, followed by contractors 18% (QR3.01bn), public sector 15% (QR2.55bn), services 13% (QR2.17bn) and consumption 10% (QR1.79bn) in November 2022.In the case of Arab banks, the domestic credit to general trade stood at QR3.1bn, contractors QR1.71bn and services QR1.11bn in November 2022.The non-Arab banks extended QR2.97bn for general trade, QR2.5bn for public sector, QR1.3bn for contractors, QR1.24bn for consumption and QR1.07bn for services during the review period.

Gulf Times
Business
QSE defies global gravity as index soars 464 points; Islamic index outperforms

The Qatar Stock Exchange started off the first week of 2023 with a big bang as its key index vaulted 464 points and capitalisation added more than QR24bn, making it the best performer in the Gulf Co-operation Council (GCC) region.The foreign institutions were seen extremely bullish as the 20-stock Qatar Index shot up 2.87% this week which saw the Qatar Financial Centre view that post World Cup, opportunities galore for the non-oil private sector in view of expected permanent boost in tourism sector.The strong bullish momentum in the Qatari bourse is notwithstanding the global fears of weaker oil demand due to the precarious outlook on China.The Gulf institutions were increasingly net buyers this week which saw Commercial Bank opens nomination for its board of directors for 2023-25.The Arab funds continued to be net buyers but with lesser intensity this week which saw Qatar Insurance opens nomination for 2023-25 board of directors.The Islamic index was seen outperforming the other indices this week which saw Mekdam Holding start trading in the main market.About 64% of the traded constituents extended gains to investors this week which saw a total of 1.64mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR4.07mn trade across 93 deals.Trade turnover and volumes were on the increase in the main market this week, which saw as many as 0.02mn Doha Bank-sponsored QETF valued at QR0.22mn change hands across 23 transactions.Market capitalisation was seen expanding QR23.71bn or 3.9% to QR631.93bn on the back of large and midcap segments this week which saw the industrials, consumer goods and banking sectors together constitute more than 90% of the total trade volume in the main market.The Total Return Index zoomed 2.87% and All Share Index by 1.81% and All Islamic Index by 3.35% this week, which saw no trading of sovereign bonds this week, which saw Qatar industrials sector’s producers’ price index shrank 3.03% month-on-month in November 2022.The industrials sector index soared 3.7%, real estate (3.2%), banks and financial services (1.83%), transport (1.29%) and telecom (1.28%); while insurance tanked 4.14% and consumer goods and services (0.68%) this week, which saw no trading of treasury bills.Major gainers in the main market included Mesaieed Petrochemical Holding, Masraf Al Rayan, Mannai Corporation, Qamco, Qatar Islamic Bank, QIIB, Baladna, Qatar National Cement, Industries Qatar, QLM, Qatar Electricity and Water, Barwa, Untied Development Company and Ooredoo this week.Nevertheless, Qatar General Insurance and Reinsurance, Doha Bank, Qatar Insurance, Inma Holding, Medicare Group and Ezdan were among the shakers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value this week.The foreign funds turned net buyers to the tune of QR307.83mn compared with net sellers of QR33.02mn the week ended December 29.The Gulf institutions’ net buying strengthened perceptibly to QR32.28mn against QR28.55mn the previous week.However, local retail investors turned net sellers to the tune of QR283.94mn compared with net buyers of QR4.42mn a week ago.The foreign individuals were net sellers to the extent of QR28.58mn against net buyers of QR11mn the week ended December 29.The Arab individuals’ net profit booking gained noticeably to QR16.13mn compared to QR4.96mn the previous week.The domestic institutions’ net selling shot up markedly to QR10.22mn against QR7.57mn a week ago.The Gulf retail investors turned net sellers to the tune of QR1.24mn compared with net buyers of QR0.81mn the week ended December 29.The Arab institutions’ net buying weakened marginally to QR0.01mn against QR0.77mn the previous week.Total trade volume in the main market increased 23% to 439mn shares, value by 26% to QR1.56bn and deals by 36% to 57,649.The venture market saw as many as 86,353 equities valued at QR0.11mn change hands across 12 transactions.

QSE
Business
QSE sees 79% of stocks gain as index vaults 300 points

The Qatar Stock Exchange (QSE) on Thursday surged more than 300 points in index and capitalisation added QR16bn, making it one of the best performers in the Gulf region, despite global concerns over precarious outlook on China and the resultant weak demand for oil.About 79% of the traded constituents extended gains to investors as the 20-stock Qatar Index shot up 2.77% to 11,145.31 points, partly reflecting the positive outlook of Qatar’s purchasing managers’ index, which found post World Cup, immense potential existed for the country’s non-oil private sector.The market recovered from an intraday low of 10,837 points.The foreign funds were increasingly net buyers in the main market, whose year-to-date gains improved to 4.35%.Although six of the seven sectors were in the positive trajectory, the banking sector saw higher than average demand in the main bourse, whose capitalisation saw QR15.96bn or 2.59% increase to QR631.93bn, mainly led by large and midcap segments.The domestic institutions’ weakened net selling had its influence on the main market, which saw a total of 1.47mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.57mn changed hands across 68 deals.Nevertheless, the Gulf institutions were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index gained slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index zoomed 2.77%, the All Share Index by 2.77% and the Al Rayan Islamic Index (Price) by 1.34% in the main bourse, whose trade turnover and volumes were on the increase.The banks and financial services sector index soared 4.31%, followed by insurance (2.24%), transport (1.94%), telecom (1.07%), industrials (0.98%) and real estate (0.7%); while consumer goods and services declined 0.18%.Major gainers in the main market included Commercial Bank, QLM, QNB, Qatar Islamic Bank, Dlala, Masraf Al Rayan, Doha Bank, Mekdam Holding, Qatar National Cement, Al Khaleej Takaful and Nakilat.Nevertheless, Qatar General Insurance and Reinsurance, Woqod, Vodafone Qatar, Baladna, Al Meera and Ezdan were among the shakers in the main market.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The foreign institutions’ net buying expanded substantially to QR66.49mn compared to QR16.37mn on January 4.The domestic funds’ net profit booking eased perceptibly to QR31.6mn against QR33.11mn the previous day.The Gulf retail investors’ net selling weakened marginally to QR0.3mn compared to QR0.35mn on Wednesday.However, the Gulf institutions turned net sellers to the tune of QR15.75mn against net buyers of QR8.3mn on January 4.The local retail investors were net sellers to the extent of QR11.73mn compared with net buyers of QR4.33mn the previous day.The Arab individuals turned net profit takers to the tune of QR7.02mn against net buyers of QR1.8mn on Wednesday.The foreign individuals were net sellers to the extent of QR0.09mn compared with net buyers of QR2.53mn on January 4.The Arab institutions’ net buying decreased marginally to QR0.01mn against QR0.11mn the previous day.The main market saw a 26% surge in trade volume to 137.87mn shares, 57% in value to QR553.58n and 61% in deals to 20,075.In the junior bourse, as many as 17,000 equities valued at QR0.02mn changed hands across two transactions.

The domestic institutions continued to be net sellers but with lesser intensity as the 20-stock Qatar Index fell 0.62% to 10,845.12 points, although it touched an intraday high of 10,933 points.
Business
QSE edges lower on profit booking

The Qatar Stock Exchange on Wednesday witnessed profit booking, especially at the counters of insurance and banks, leading the main index to slide 68 points and capitalisation to erode about QR4bn.The domestic institutions continued to be net sellers but with lesser intensity as the 20-stock Qatar Index fell 0.62% to 10,845.12 points, although it touched an intraday high of 10,933 points.The Gulf institutions’ substantially weakened net buying had its influence on the market, whose year-to-date gains stood at 1.54%.The Gulf retail investors were seen net profit takers in the main bourse, whose capitalisation saw QR3.73bn or a 0.6% decrease to QR615.97bn, mainly led by small and microcap segments.About 73% of the traded constituents were in the red in the main market, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.19mn changed hands across 10 deals.The Arab individuals continued to be net buyers but with lesser vigour in the main bourse, which saw no trading of sovereign bonds.The Islamic index declined slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shed 0.62%, the All Share Index by 0.57% and the Al Rayan Islamic Index (Price) by 0.34% in the main bourse, whose trade turnover and volumes were on the decline.The insurance sector index fell 1.21%, industrials (0.85%), real estate (0.79%), telecom (0.67%), banks and financial services (0.58%) and transport (0.09%); while consumer goods and services gained 0.2%.Major shakers in the main market included QLM, Qatar Islamic Insurance, Commercial Bank, Dlala, Estithmar Holding, Qatari German Medical Devices, Industries Qatar, Mazaya Qatar, United Development Company, Ooredoo and Nakilat.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Lesha Bank, Al Meera, Gulf International Services, Milaha and Qatar National Cement were among the gainers in the main market.The Gulf retail investors were net sellers to the tune of QR0.35mn compared with net buyers of QR0.36mn on January 3.The Gulf institutions’ net buying declined substantially to QR8.3mn against QR40.62mn the previous day.The Arab individuals’ net buying shrank noticeably to QR1.8mn compared to QR10.82mn on Tuesday.The foreign individuals’ net buying weakened perceptibly to QR2.53mn against QR4.94mn on January 3.However, the foreign institutions’ net buying expanded markedly to QR16.37mn compared to QR12.35mn the previous day.The local retail investors’ net buying strengthened notably to QR4.33mn against QR1.64mn on Tuesday.The Arab institutions were net buyers to the extent of QR0.11mn compared with no major net exposure on January 3.The domestic funds’ net profit booking tanked considerably to QR33.11mn against QR70.74mn the previous day.The main market saw a 5% contraction in trade volume to 109.52mn shares, 12% in value to QR351.54n and 18% in deals to 12,491.In the junior bourse, as many as 1,100 equities valued at QR1,333 changed hands across two transactions.

Yousuf Mohamed al-Jaida, QFC Authority chief executive officer
Business
Post-World Cup opportunities in Qatar galore amid permanent boost to tourism: QFC

The recently held FIFA World Cup helped boost Doha's retail and services sectors in December 2022, which strengthened the outlook for business activity as post-competition business opportunities appear rosy on expected permanent boost to tourism, according to the Qatar Financial Centre (QFC).As was the case in November, wholesale, retail, and service providers in particular registered rapid expansions in activity. These sectors also drove a record overall increase in prices charged for goods and services, said the QFC's latest purchasing managers' index survey data."The tournament's legacy is also looking secure, with widespread reports from companies of post-competition business opportunities and an expected permanent boost to tourism. The Future Activity Index, tracking the 12-month outlook, rose to a 29-month high in December," Yousuf Mohamed al-Jaida, QFC Authority chief executive officer.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.“The FIFA World Cup Qatar 2022 makes its mark on the Qatari economy in December, with another rapid increase in business activity fueled by the retail and services sectors. The December data round off a stellar 2022 with the Output Index and headline PMI trending at 69 and 57.7 respectively, the highest annual averages since the survey began in 2017," al-Jaida said.The PMI rose for the second month running from 48.8 in November to 49.6 in December, pointing to a near-stabilisation in overall non-energy private sector business conditions at the end of 2022.As was the case in November, a rapid rise in activity – the Output Index posted 62.8 on the back of surging retail trade and services – was countered by a construction-driven pause in new work, as well as improving supply chains.Non-oil private sector output rose for the thirtieth consecutive month in December. The rate of growth was little-changed since November and well above the long-run survey average.Sector data revealed especially marked growth in wholesale and retail and services, reflecting the continued impact of the FIFA World Cup Qatar 2022.Although there was a further pause in new business, particularly in construction, the respective index rose for the second month running in December from October's28-month low. Meanwhile, firms were able to reduce their outstanding business for the fifth month running.The financial ser

An oil refinery on the outskirts of Doha (file). The mining PPI, which carries the maximum weight of 82.46%, reported a 3.58% shrinkage month-on-month in November 2022 as the average selling price of crude petroleum and natural gas was seen falling 3.58%, according to PSA data.
Business
Qatar's November PPI levels ease 3.03% month-on-month: PSA

Qatar's industrials sector experienced lower price pressure month-on-month in November 2022 as producers' price index (PPI) shrank 3.03%, hinting eased prices at the retail level in the future, according to official statistics.The country's PPI had weakened on monthly basis on account of hydrocarbons and certain manufactured products like basic metals, according to data released by the Planning and Statistics Authority (PSA).The PPI measures inflation from the perspective of costs to industry or producers of products as it measures price changes before they reach consumers.However, Qatar's PPI was seen surging 5.22% on an annualised basis in November 2022.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 hardening of the global crude oil and industrial input prices, on account of higher inflation and interest rates, had its reflection on the PPI on an annualised basis. However, the yearly increase in PPI has begun slowing down.The mining PPI, which carries the maximum weight of 82.46%, reported a 3.58% shrinkage month-on-month in November 2022 as the average selling price of crude petroleum and natural gas was seen falling 3.58%.However, the mining PPI soared 7.73% year-on-year in November 2022 as the average selling price of crude petroleum and natural gas remained elevated at 7.73% and that of stone, sand and clay at 8.64%.The manufacturing sector PPI, which has a weight of 15.85% in the basket, was down 0.04% on a monthly basis in November 2022 due to a 6.27% plunge in the average selling price of basic metals, 0.89% in rubber and plastics products and 0.26% in cement and other non-metallic mineral products.Nevertheless, there was a 2.59% increase in the average selling price of refined petroleum products, 1.31% in food products and 0.36% in chemicals and chemical products.The manufacturing PPI tanked 7.42% year-on-year in November 2022 on account of a 14.13% fall in the average price of chemicals and chemical products, 3.49% in printing and reproduction of recorded media, 2.77% in basic metals and 0.84% in beverages.However, rubber and plastics sector witnessed a 20.76% surge in average selling price, refined petroleum products (7.54%), cement and other non-metallic mineral products (4.8%) and food products (4.45%).The index of electricity, gas, steam and air conditioning supply reported 5.52% and 1.47% increase on monthly and yearly basis respectively in November 2022.The index of water supply was seen declining 2.37% and 9.81% month-on-month and year-on-year respectively in November 2022.

Gulf Times
Business
Buying interests in industrials and realty lift sentiments in QSE; M-cap adds QR3bn

The industrials and real estate counters Tuesday saw a higher than average demand, leading the Qatar Stock Exchange gain about 79 points and its key index surpass 10,900 levels.The Gulf funds were seen increasingly into net buying as the 20-stock Qatar Index soared 0.73% to 10,913 points, recovering from an intraday low of 10,816 points.The foreign institutions turned bullish in the main market, whose year-to-date gains improved to 2.17%, despite a gloomy global economic outlook and volatile oil prices.The Arab retail investors were increasingly net buyers in the main bourse, whose capitalisation saw QR3.01bn or 0.49% increase to QR619.7bn, mainly led by mid and small cap segments.About 60% of the traded constituents extended gains 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 13 deals.The local individuals were seen net buyers in the main bourse, which saw no trading of sovereign bonds.The Islamic index outperformed the other indices in the main market, which saw no trading of treasury bills.Trade turnover and volumes were on the increase in the main market, while the venture market saw declining value and volumes.The Total Return Index gained 0.73%, All Share Index by 0.49% and Al Rayan Islamic Index (Price) by 0.83%.The industrials sector index shot up 1.73%, real estate (1.71%), transport (0.67%) and banks and financial services (0.45%); while telecom declined 2.25%, consumer goods and services (1.41%) and insurance (0.95%).Major movers in the main market included Inma Holding, Mannai Corporation, Estithmar Holding, Industries Qatar, Masraf Al Rayan, Qatar Islamic Bank, Alijarah Holding, Mekdam Holding, Gulf International Services, Mazaya Qatar, Barwa, United Development Company, Ezdan and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Zad Holding, Al Khaleej Takaful, Ooredoo, Aamal Company, Woqod, Commercial Bank, Qatar Industrial Manufacturing and Qatar National Cement were among the losers in the main market.The Gulf institutions’ net buying enhanced substantially to QR40.62mn compared to QR20.9mn on January 2.The foreign institutions turned net buyers to the tune of QR12.35mn against net sellers of QR0.85mn on Monday.The Arab individuals’ net buying expanded perceptibly to QR10.82mn compared to QR8.89mn the previous day.The foreign individuals were net buyers to the extent of QR4.94mn against net profit takers of QR1.26mn on January 2.The local retail investors turned net buyers to the tune of QR1.64mn compared with net sellers of QR6.66mn on Monday.The Gulf retail investors were net buyers to the extent of QR0.36mn against net profit takers of QR0.26mn the previous day.However, the domestic funds’ net selling strengthened considerably to QR70.74mn compared to QR20.74mn on January 2.The Arab institutions had no major net exposure for the second consecutive session.The main market saw a 51% surge in trade volume to 115.38mn shares, 52% in value to QR398.3mn and 54% in deals to 15,212.In the juniour bourse, trade volumes were seen declining 60% to 0.02mn equities, value by 71% to QR0.02mn and transactions by 67% to two.

Gulf Times
Business
QSE opens 2023 on a strong note as index vaults 153 points; M-cap adds QR8bn

The Qatar Stock Exchange (QSE) Monday opened year 2023 on a positive note with its key index gaining 153 points and market capitalisation adding more than QR8bn.A higher than average demand, especially in the consumer goods, telecom and banking counters, led the 20-stock Qatar Index to surge 1.44% to 10.834.4 points.The Gulf institutions were seen increasingly into net buying in the market, which otherwise touched an intraday low of 10,670 points.The foreign funds’ weakened net selling had its influence on the main bourse, whose capitalisation saw QR8.47bn or 1.39% increase to QR616.89bn, mainly led by midcap segments.About 64% of the traded constituents extended gains in the main market, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.36mn changed hands across 25 deals.The Arab individuals were also seen increasingly into net buying 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.Trade turnover declined amidst higher volumes in the main market.The Total Return Index gained 1.44%, the All Share Index by 1.39% and the Al Rayan Islamic Index (Price) by 0.79%.The consumer goods and services sector index shot up 2.37%, telecom (2.2%), banks and financial services (1.84%), industrials (0.96%), insurance (0.5%) and real estate (0.36%); while transport declined 1.2%.Major movers in the main market included Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Zad Holding, Qatar Industrial Manufacturing, Qatar Islamic Bank, QNB, Commercial Bank, Woqod, Industries Qatar, Aamal Company, Gulf International Services, Estithmar Holding, Mazaya Qatar, Barwa and Ooredoo.Nevertheless, QLM, Milaha, Mesaieed Petrochemical Holding, Doha Insurance and Medicare Group 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 noticeably to QR20.9mn compared to QR17.62mn on December 29.The Arab individuals’ net buying expanded perceptibly to QR8.89mn against QR2.75mn the previous trading day.The foreign institutions’ net selling weakened significantly to QR0.85mn compared to QR30.65mn last Thursday.However, the domestic funds turned net sellers to the tune of QR20.74mn against net buyers of QR9.91mnn on December 29.The local retail investors’ net selling expanded markedly to QR6.66mn compared to QR1mn the previous trading day.The foreign individuals were net sellers to the extent of QR1.26mn against net buyers of QR0.38mn last Thursday.The Gulf retail investors turned net profit takers to the tune of QR0.26mn compared with net buyers of QR0.87mn on December 29.The Arab institutions had no major net exposure against net buyers to the tune of QR0.12mn the previous trading day.The main market saw an 8% jump in trade volume to 76.22mn shares but on 21% decline in value to QR261.47mn amidst 6% jump in deals to 9,871.In the junior bourse, a total of 0.05mn equities valued at QR0.07mn traded across six transactions.

The Hamad Port saw as many as 148 vessels call on the port in the review period. The port saw a total of 1,569 vessels for the whole of 2022.
Qatar
Qatar witnesses 85% year-on-year surge in cargoes in December

Qatar's maritime sector witnessed a stupendous 86% year-on-year surge in cargo through its Hamad, Doha and Al Ruwais ports in December 2022 as the country successfully hosted the FIFA World Cup.The three ports saw 5% more vessel calls on an annualised basis and the livestock handled through these ports registered more than 98% increase in the review period, said Mwani Qatar.The number of ships calling on Qatar's three ports stood at 267 in December 2022, which grew 4.71% year-on-year but was down 0.74% month-on-month.As many as 3.031 ships had called on three ports in 2022, which was 10% lower than those in 2021.Hamad Port – whose strategic geographical location 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 148 vessels call on the port in the review period. The port saw a total of 1,569 vessels for the whole of 2022.The general cargo handled through the three ports was 140,601 tonnes in December 2022, which showed an 86.04% annual decline although it fell 1.46% month-on-month in the review period.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO (vehicles), grains and livestock – handled 55,125 freight tonnes (F/T) of bulk and 74,517F/T of breakbulk in December last year.The Hamad Port was seen handling 520,324F/T of bulk and 983,033F/T of break-bulk in 2022. On a cumulative basis, the general cargo movement through the three ports totalled 1.6mn tonnes during January-December 2022, which registered a 2% decline on an annualised basis.The three ports had handled 38,867 livestock in December 2022, which almost doubled on a yearly basis and more than doubled on monthly basis.Hamad Port was seen handling 1,317 livestock in December and a total of 45,808 head for the whole of 2022. The three ports together handled 205,608 livestock for January-December 2022, which fell 38.21% year-on-year.The container handling through three ports stood at 128,688 TEUs (twenty-foot equivalent units), which fell 2.02% year-on-year but shot up 10.97% in December 2022.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 127,770 TEUs of containers handled in December 2022. The port was seen handling a total of 1.41mn TEUs in 2022.The container handling through the three ports fell 8.28% year-on-year to 1.44mn TEUs during January-December 2022.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 three ports handled 6,263 RORO in December 2022, which registered a 6% and 9.74% decline on yearly and monthly basis respectively.Hamad Port alone handled 6,224 units in December 2022 and a total of 78,588 units for the whole of last year. The three ports together handled as many as 79,401 vehicles during January-December 2022.The building materials traffic through the three ports stood at 45,985 tonnes in December 2022, which tanked 25.58% and 24.86% year-on-year and month-on-month respectively in the review period.A total of 516,839 tonnes of building materials had been handled by these ports in January-December 2022, which shrank 12.76% on an annualised basis.

Gulf Times
Business
The Group, QNBFS dominate stock broking business with 70% share in trade turnover in 2022

The Group Securities and QNB Financial Services (QNBFS), a subsidiary of QNB, together accounted for more than 70% of the share trade turnover of the brokerages in the Qatar Stock Exchange this year.Four of the seven stock brokerages witnessed gains in turnover on an annualised basis in January-December 2022, according to the Qatar Stock Exchange (QSE) data.The Group Securities’ share stood at 37.74% in 2022 compared to 42.56% the previous year. Its trading turnover surged 17.35% year-on-year to QR124.53bn. The transactions through it expanded 25.51% on an annualised basis to 3.05mn, even as volumes fell 13.07% to 53.74mn equities at the end of December 2022.The QNBFS' trade turnover amounted to QR107.48bn, which constituted 32.57% of the total traded value during 2022 against 31.59% a year ago. The turnover zoomed 36.43% year-on-year as volumes zoomed 36.41% to 15.06mn stocks on more than doubled transactions to 3.04mn in the review period.The Commercial Bank Financial Services accounted for 12.72% of trade turnover compared to 8.23% during January-December 2021. The brokerage house's trade turnover more than doubled year-on-year to QR41.98bn as volumes soared 78.54% to 9.57mn shares and deals more than doubled to 1.14mn in the review period.The Commercial Bank Financial Services last year launched its margin trading product, becoming the first bank brokerage subsidiary in Qatar to launch such a product.The Qatar Financial Market Authority had approved the Group Securities and Commercial Bank Financial Services as liquidity providers, while saying other licences are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms.Qatar Securities accounted for 7.22% of trade turnover during January-December 2022 compared to 6.8% the previous year period. The brokerage's trading turnover expanded 40.39% year-on-year to QR23.81bn although volumes through it fell 10.8% to 3.8mn equities despite 70% surge in transactions to 0.51mn at the end of December 2022.Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.31% of trade turnover (QR14.23bn), which grew 2.6% year-on-year. The brokerage’s share was 5.56% the previous year period. The deals through it expanded 22.73% on a yearly basis to 0.27mn but volumes shrank 37.22% to 4.2mn stocks at the end of December 2022.Wasata Financial Securities' share was 3.69% of trading turnover during January-December 2022 compared to 2.92% in the comparable period of 2021. Its trade turnover zoomed 67.22% year-on-year to QR12.19bn as volumes shot up 21.57% to 3.72mn shares and transactions by 83.33% to 0.22mn at the end of 2022.Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover expand 65.52% on an annualised basis to QR5.76bn, cornering a market share of 1.74% in 2022 compared to 1.4% a year ago period. The volumes handled by the banking subsidiary grew 25.53% to 1.18mn equities and deals through it more than doubled to 0.13mn during the review period.

Gulf Times
Business
QSE focuses on liquidity, ESG incentives in 2022 amidst rising rate challenge

The Qatar Stock Exchange (QSE), which celebrated its silver jubilee this year, appears to have adopted a strategy of working hard in silence and let success make the noise to the regional and global investment community.Braving the odds of a hefty 425 basis points interest rate hike so far due to the country’s fixed exchange parity with the US dollar, the local bourse, which is year-to-date down more than 8%, has kept focus intact on improving liquidity and has been on the forefront in devising a strategy to incentivise firms to embrace ESG (environment, social and governance) framework as Doha strives to become an investment destination of choice.The QSE, which was seen outperforming the regional peers in the Gulf Co-operation Council (GCC) for most part of the year, drew strength from an enabling regulatory and legal environment and infrastructure to improve organic liquidity and help it become a reliable platform for sustainable economic diversification in support of the Qatar National Vision 2030.The year saw the Qatar Investment Authority (QIA), the country’s sovereign wealth fund, allow the QSE-licensed market makers to access some of its stock inventory, which comes as part of its efforts to attract foreign asset managers as well as to support and develop local economy.The QIA’s commitment to deepening its capital market is an important step to attracting foreign asset managers to invest in Qatar, and to stimulate retail participation that will help diversify and broaden the market. This QIA-sponsored market making initiative is a first step towards this goal and helps to further develop the Qatari financial markets.The need for strengthened market makers comes in view of more exchange traded funds or ETFs expected to be traded on the QSE, which is working to attract more listings, introduce more ETFs and derivatives to help investors diversify their portfolios and better manage their investment risks.The increase of foreign ownership limit in listed companies up to 100% (especially in QNB, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, QIIB and Doha Bank); higher levels of market activity; and economic growth and diversification across the wider GCC were recognised as strong regional economic catalysts.The Qatar bourse, as part of its wider reform strategy, has been working on various initiatives to enhance liquidity in its market and is working closely with the Qatar Financial Markets Authority (QFMA) and the Qatar Central Securities Depository (QCSD) on this important programme.The QFMA was seen issuing rules relating to covered short selling and securities lending and borrowing (SLB) as part of efforts to increase liquidity and volumes as well as to expand the investment instruments for the investors.The importance of the new rules is that they add new financial services activities aimed at increasing the volume of activities and businesses of financial services companies, raising the ability of such companies to provide various investment alternatives for market investors.This contributes to increasing trading volumes and liquidity rates in the market, maximising the returns of stakeholders in the Qatari capital market, as well as broaden the scope of borrowing securities for various purposes, including the establishment of ETF units, executing short selling transactions, or for the purpose of returning previously borrowed securities.The QSE was seen engaged with various stakeholders to further increase the free float in the market. The major companies' decision to remove foreign ownership limits is part of an overarching plan to enhance access for foreign investors.The 47 listed companies in the QSE was seen cumulatively reporting QR39.4bn in net profit in the first nine months of this year, showing a healthy 19%-plus growth on an annualised basis.With Mekdam Holding getting transferred from the venture market to main market and Beema foraying with a direct listing, the new year begins with QSE witnessing the number of listed entities expanding to 49.Ever since it started operations in May 1997, the QSE, has over the years been transformed into rules-based, reliable and resilient market operating in line with the best international practices. It has played a central role in the growth and development of Qatar’s financial industry, building the breadth and depth of the market, driving quality and attractiveness as a listing, trading and investment destination.The year 2022 also saw the QSE enter into an agreement with the London Stock Exchange Group (LSEG) whereby the Qatari bourse will receive the latter's trading and market surveillance technology.The new QSE solution will be based upon LSEG’s financial markets product suite, a robust, scalable, and high-performance technology offering, which includes trading, market data, data analytics, and market surveillance."It enables us to deliver even greater value as well as offering new products and services to a whole new range of potential clients and participants in the derivative and equity capital markets arena," said Aisha al-Mahmoud, QSE’s IT Director.The year saw QSE in talks with an asset manager to launch an ESG fund that will eventually incentivise companies to better embrace the sustainability framework, as Doha strives to become an investment destination of choice for ESG-sensitive investors globally."We are now working on potentially launching a fund here in Qatar to incentivise everybody to pay more attention to ESG aspects," QSE director (Products and Market Development) Mohsin Mujtaba had said.For the last six years, ever since the ESG guidelines were launched, the focus has been more on the corporate side, encouraging them to disclose more.As much as 30% of the listed companies are actively reporting ESG data and 43% of them are rated by global data providers, he said, adding 90% of the market-capitalisation is rated, which according to Mujtaba, is "a good achievement" in a short span of time.From a regulatory point of view, he said, the bourse has initiated talks with large asset owners who are fully behind the ESG index, which was launched last year in collaboration with MSCI Inc, a leading provider of critical decision support tools and services for the global investment community.On a micro-level, the year saw the Group Securities commence the market making for the stocks of QNB, Industries Qatar, Masraf Al Rayan, Woqod, Commercial Bank, QIIB and Qatar Electricity and Water Company.QNB Financial Services not only started market making for Industries Qatar, Masraf Al Rayan and Woqod but also entered into a liquidity provision pact for Estithmar Holding and Doha Bank-sponsored QETF. Wasata Financial Securities was seen providing market making service for Qamco and Baladna.The latest update in 2022 saw as many as 43 constituents, which include two exchange traded funds, become eligible for the margin trading, market making and liquidity provision activities.The Group and QNB Financial Services were seen cornering about 70% of the trade turnover (at the end of 11-month ended November).On the international front, the QSE signed a pact with Astana International Exchange, whereby both parties will facilitate information and knowledge exchange regarding market operations within the respective legal and technical framework, joint research and educational initiative.In the debt market, the QSE witnessed listing and trading of treasury bills every month of varying sizes and lots.In its efforts to give back to the society, the QSE and the Community College of Qatar were seen entering into a memorandum of understanding to develop awareness courses/workshops to be provided by QSE to the CCQ students pertaining to the QSE’s market and operations, as well as training the students using QSE’s trading simulation programmes and introducing them to safe investment methods.

Gulf Times
Business
Domestic funds’ selling pressure drags QSE as index declines 29 points

The domestic institutions’ increased net profit booking on Thursday drove the Qatar Stock Exchange down 29 points despite strong buying interests at the transport counter.The insurance and telecom sectors notably witnessed higher than average selling pressure, leading the 20-stock Qatar Index to settle 0.25% lower at 11,867.24 points, although it touched an intraday high of 11,936 points.About 67% of the traded constituents were in the red in the market, whose year-to-date gains truncated to 2.08%.The foreign individuals were net sellers in the main bourse, whose capitalisation saw QR0.83bn or a 0.12% fall to QR663.43bn, mainly on the back of microcap segments.The Islamic index was seen declining faster than the other indices in the main market, which saw a total of 0.79mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR2.1mn change hands across 33 deals.Trade turnover and volumes were on the decline in both the main and venture markets.The Arab individuals’ weakened net buying had its influence in the main bourse, which saw no trading of sovereign bonds.However, the foreign funds were seen bullish in the main market, which saw no trading of treasury bills.The Total Return Index was down 0.25%, the All Share Index by 0.18% and the Al Rayan Islamic Index (Price) by 0.53%.The insurance sector plunged 3.08%, telecom (1.11%), industrials (0.45%), real estate (0.44%) and banks and financial services (0.18%); while transport gained 1.8% and consumer goods and services (0.45%).Major shakers in the main market included Qatar Insurance, Aamal Company, Inma Holding, Dlala, Qatar Islamic Insurance, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Qatar Electricity and Water, Qatari Investors Group, Qamco, Ezdan, Mazaya Qatar and Ooredoo.Nevertheless, Qatar General Insurance and Reinsurance, Estithmar Holding, Nakilat, Milaha and Commercial Bank were among the gainers in the main market.In the venture market, Mekdam Holding saw its shares appreciate in value.The domestic institutions’ net selling increased substantially to QR40.29mn compared to QR8.99mn on November 23.The foreign individual investors turned net sellers to the tune of QR15.63mn against net buyers of QR5.83mn the previous day.The Arab retail investors’ net buying weakened noticeably to QR2.84mn compared to QR7.84mn on Wednesday.However, the local retail investors’ net buying expanded drastically to QR26.97mn against QR6.43mn on November 23.The foreign funds were net buyers to the extent of QR30.53mn compared with net sellers of QR0.79mn the previous day.The Arab institutions turned net buyers to the tune of QR0.1mn against net profit takers of QR1.07mn on Wednesday.The Gulf institutions’ net selling decreased noticeably to QR4.4mn compared to QR7.37mn on November 23.The Gulf individuals’ net profit booking eased perceptibly to QR0.12mn against QR1.87mn the previous day.Total trade volume in the main market fell 13% to 137.45n shares, value by 9% to QR469.69mn and deals by 11% to 14,986.The venture market saw a 68% shrinkage in trade volumes to 0.1mn equities, 65% in value to QR0.76mn and 38% in transactions to 71.

Gulf Times
Business
Selling pressure drags QSE sentiments, but M-cap gains

The Qatar Stock Exchange Tuesday witnessed strong buying in the banking counter, even as it settled marginally lower, yet reported gains in capitalisation.The telecom, transport and insurance counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 25 points or 0.21% lower at 11,827.93 points, but regained from an intraday low of 11,689 points."The selling pressure remains, and the index is now near the strong support level at 11,750 points, knowing that a break below it would most likely lead to a deep bearish move to 11,386 points and maybe lower to 10,500 points," a Kamco technical analysis note said.The Gulf and domestic institutions were increasingly bearish in the market, whose year-to-date gains truncated to 1.74%.The foreign institutions were seen net profit takers in the main bourse, whose capitalisation nevertheless saw QR0.8bn or 0.12% jump to QR661.38bn, mainly on the back of microcap segments.The Islamic index was seen declining faster than the main index in the market, which saw a total of 1mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR2.7mn changed hands across 53 deals.Trade turnover and volumes were on the decline in the main market; whereas it rose in the case of venture market.The Gulf retail investors turned net sellers in the main bourse, which saw no trading of sovereign bonds.The foreign individuals’ weakened net buying had its influence in the main market, which saw no trading of treasury bills.The Total Return Index was down 0.21%, All Share Index by 0.01% and Al Rayan Islamic Index (Price) by 0.27%.The telecom sector index tanked 2.67%, transport (0.85%) and insurance (0.63%); while consumer goods and services gained 0.74%, banks and financial services (0.2%), real estate (0.07%) and industrials (0.03%).About 48% of the traded constituents were in the red in the main market and included Ooredoo, Gulf Warehousing, Al Khaleej Takaful, Dlala, Qatari German Medical Devices, Qatar Islamic Bank, Estithmar Holding and Nakilat.Nevertheless, Inma Holding, Qatar Electricity and Water, Baladna, Mesaieed Petrochemical Holding, QNB and Ezdan were among the gainers in the main market. In the venture market, Mekdam Holding saw its shares appreciate in value.The Gulf institutions’ net selling increased noticeably to QR12.37mn compared to QR9.17mn on November 21.The domestic institutions’ net profit booking grew markedly to QR11.8mn against QR2.42mn the previous day.The foreign funds turned net sellers to the tune of QR7.2mn compared with net buyers of QR15.79mn on Monday.The Gulf individuals were net sellers to the extent of QR1.07mn against net buyers of QR5.09mn on November 21.The foreign individual investors’ net buying shrank perceptibly to QR4.2mn compared to QR5.36mn the previous day.The Arab institutions’ net buying weakened marginally to QR0.02mn against QR0.06mn on Monday.However, the local retail investors turned net buyers to the tune of QR22.23mn compared with net sellers of QR16.75mn on November 21.The Arab retail investors’ net buying strengthened noticeably to QR5.99mn against QR2.04mn the previous day.Total trade volume in the main market fell 12% to 111.24mn shares and value by 17% to QR409.96mn, while deals were marginally up 0.4% to 15,499.The venture market saw an 80% surge in trade volumes to 0.27mn equities and value by 87% to QR2.04mn on more than doubled transactions to 117.

An across the board selling – particularly at the telecom, banking and insurance counters – dragged the 20-stock Qatar Index 0.94% to 12,290.8 points but recovered from an intraday low of 12,219 points.
Business
QSE plummets as global concerns mount over escalating Russia-Ukraine crisis

The Qatar Stock Exchange Wednesday lost as much as 117 points and its key index retreated below 12,300 levels and capitalisation eroded QR6bn, reflecting the global apprehensions over the escalating Russia-Ukraine crisis.An across the board selling – particularly at the telecom, banking and insurance counters – dragged the 20-stock Qatar Index 0.94% to 12,290.8 points but recovered from an intraday low of 12,219 points.The Gulf institutions were increasingly into net profit booking in the market, whose year-to-date gains further truncated to 5.72%.The foreign funds were also increasingly bearish in the main bourse, whose capitalisation saw QR6.24bn or 0.9% erosion to QR685.08bn, mainly on the back of midcap segments.The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.3mn changed hands across 23 deals.Trade turnover and volumes were on the increase in both the main and venture markets.The Arab individuals were seen bearish in the bourse, which saw no trading of sovereign bonds.However, the local retail investors were seen net buyers in the main market, which saw no trading of treasury bills.The Total Return Index knocked off 0.94%, the All Share Index by 0.91% and the Al Rayan Islamic Index (Price) by 0.78%.The telecom sector index tanked 1.45%, banks and financial services (1.22%), insurance (1.01%), transport (0.81%), consumer goods and services (0.51%), industrials (0.33%) and real estate (0.06%).More than 76% of the traded constituents were in the red in the main market and included Mannai Corporation, Medicare Group, Baladna, Qatari German Medical Devices, Aamal Company, QNB, Qatar Islamic Bank and Commercial Bank. In the venture market, Mekdam Holding saw its shares appreciate in value.Nevertheless, Doha Bank, Zad Holding, Qatar Industrial Manufacturing, United Development Company and Mesaieed Petrochemical Holding saw their shares appreciate in value.The Gulf institutions’ net profit booking increased markedly to QR16.86mn compared to QR7.31mn on November 15.The foreign institutions’ net selling expanded considerably to QR5.18mn against QR0.54mn the previous day.The Arab retail investors turned net sellers to the tune of QR3.63mn compared with net buyers of QR2.34mn on Tuesday.However, the local retail investors’ net buying strengthened noticeably to QR12.9mn against QR7.4mn on November 15.The domestic institutions were net buyers to the extent of QR7.18mn compared with net sellers of QR4.02mn the previous day.The foreign individual investors’ net buying grew significantly to QR4.12mn against QR2.55mn on Tuesday.The Gulf individuals turned net buyers to the tune of QR1.33mn compared with net sellers of QR0.42mn on November 15.The Arab institutions were net buyers to the extent of QR0.15mn against no major net exposure the previous day.Total trade volume in the main market soared 35% to 105.22mn shares, value by 50% to QR440.17mn and deals by 29% to 15,116.The venture market’s trade volumes doubled to 0.16mn equities and value more than doubled to QR1.25mn on 45% jump in transactions to 80.