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.
QSE
Business
QSE stays almost flat amid strong buying from foreign funds

The Qatar Stock Exchange on Thursday treaded an almost flat course despite four of the seven sectors experiencing selling pressure. The 20-stock Qatar Index settled mere 0.03% higher at 12,657.12 points as foreign funds were increasingly net buyers. The market was seen recovering from an intraday low of 12,617 points. The foreign individuals were seen net buyers in the market, whose year-to-date gains were at 8.87%. The insurance and telecom counters witnessed higher than average demand in the main bourse, whose capitalisation however saw QR1.73bn or 0.25% decrease to QR703.55bn, mainly on the back of microcap segments. The Islamic index outperformed the main index in the market, which saw a total of 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.68mn changed hands across 49 deals. Trade turnover grew amidst lower volumes in the main market, while the venture market saw increased turnover and volumes. The domestic institutions were increasingly into net selling in the bourse, which saw no trading of sovereign bonds. The local retail investors turned net profit takers and the Gulf funds were strongly into net profit booking in the main market, which saw no trading of treasury bills. The Total Return Index was up 0.03% to 25,925.89 points and the Al Rayan Islamic Index (Price) by 0.14% to 2,770.12 points, while All the Share Index shrank 0.16% to 4,016.05 points. The insurance sector index gained 0.48% and telecom (0.45%); while transport declined 1.32%, real estate (0.74%), consumer goods and services (0.4%), industrials (0.12%) and banks and financial services (0.04%). More than 60% of the constituents were in the red in the main market and included Milaha, Commercial Bank, United Development Bank, Lesha Bank, Zad Holding, Al Meera, Industries Qatar, Ezdan, United Development Company and Mazaya Qatar. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Masraf Al Rayan, Qatar Electricity and Water, Qatar Islamic Bank, Qatar Insurance, Qamco, Estithmar Holding and Ooredoo were among the gainers in the main market. The foreign institutions’ net buying increased considerably to QR91.19mn compared to QR31.11mn on October 19. The foreign individuals turned net buyers to the tune of QR2.31mn against net sellers of QR5.58mn the previous day. The Gulf individuals’ net profit booking eased marginally to QR0.92mn compared to QR1.72mn on Wednesday. However, the domestic institutions’ net selling expanded significantly to QR53.73mn against QR34.93mn on October 19. The Gulf institutions turned net profit takers to the tune of QR26.69mn. Qatari individuals were net sellers to the extent of QR13.3mn compared with net buyers of QR8.66mn on Wednesday. The Arab retail investors’ net buying weakened perceptibly to QR1.16mn against QR2.45mn on October 19. The Arab institutions continued to have no major net exposure for the seventh consecutive session. Total trade volume in the main market shrank 16% to 113.18mn shares, while value shot up 26% to QR510.52mn and deals by 60% to 21,048. The venture market saw trade volumes more than triple to 0.1mn equities and value almost quadruple to QR0.78mn on almost tripled transactions to 65.    

Gulf Times
Business
QSE sentiments weaken as index shrinks 69 points, M-cap erodes QR5bn

Strong profit booking, especially in the banking, industrials and insurance counters, Wednesday dragged the Qatar Stock Exchange more than 69 points in key barometer and QR5bn in capitalisation. The foreign individuals were seen bearish as the 20-stock Qatar Index declined 0.55% to 12,652.71 points, having touched an intraday high of 12,749 points. The foreign institutions’ weakened net buying had its influence in the market, whose year-to-date gains were limited to 8.33%. About 72% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR4.88bn or 0.69% decrease to QR705.28bn, mainly on the back of mid and large cap segments. The Islamic index was seen declining faster than the other indices in the market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.44mn changed hands across 26 deals. Trade turnover and volumes were on the decline in the main market as well as the venture market. The domestic institutions continued to be net profit takers but with lesser intensity in the bourse, which saw no trading of sovereign bonds. The local retail investors were seen bullish in the main market, which saw no trading of treasury bills. The Total Return Index shed 0.55% to 25,916.86 points, Al Rayan Islamic Index (Price) by 0.62% to 2,766.24 points and All Share Index by 0.52% to 4,022.59 points. The industrials sector index shrank 1.56%, insurance (0.76%), banks and financial services (0.36%) and real estate (0.23%); while transport gained 0.21% and consumer goods and services 0.04%. Major losers in the main market included Aamal Company, Qatari German Medical Devices, Ezdan, Dlala, Qatar Industrial Manufacturing, Masraf Al Rayan, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Estithmar Holding and Qamco. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Zad Holding, Nakilat, Vodafone Qatar, Barwa and QIIB were among the gainers in the main market. The foreign individuals turned net sellers to the tune of QR5.58mn against net buyers of QR3.64mn on October 18. The Gulf individuals’ net profit booking grew perceptibly to QR1.72mn compared to QR0.12mn the previous day. The foreign institutions’ net buying weakened considerably to QR31.11mn against QR54.26mn on Tuesday. However, Qatari individuals turned net buyers to the extent of QR8.66mn compared with net sellers of QR6.65mn on October 18. The Arab retail investors were net buyers to the tune of QR2.45mn against net sellers of QR0.77mn the previous day. The domestic institutions’ net selling weakened perceptibly to QR34.93mn compared to QR37.71mn on Tuesday. The Arab institutions continued to have no major net exposure for the sixth consecutive session. Total trade volume in the main market shrank 13% to 134.49mn shares, value by 3% to QR406.17mn and deals by 8% to 13,169. The venture market saw a 25% reduction in trade volumes to 0.03mn equities, 27% in value to QR0.19mn and 45% in transactions to 18.

Gulf Times
Business
Banks, transport, realty lift QSE sentiments as index jumps 82 points

The Qatar Stock Exchange Tuesday saw more than 82% of the listed constituents extend gains to investors. The banks, transport and real estate counters witnessed higher than average demand as the 20-stock Qatar Index jumped 82 points to 12,722.12 points, although it touched an intraday high of 12,789 points. The foreign institutions continued to be net buyers but with lesser intensity in the market, whose year-to-date gains were at 9.43%. The local retail investors’ weakened net selling pressure had its influence in the main bourse, whose capitalisation saw QR6.21bn or 0.88% increase to QR710.16bn, mainly on the back of mid and small cap segments. The Islamic index was seen gaining slower than the other indices in the market, which saw a total of 0.14mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.19mn changed hands across 59 deals. Trade turnover declined amidst higher volumes in the main market, while the venture market saw declining trade turnover and volumes. The domestic institutions were increasingly net profit takers in the bourse, which saw no trading of sovereign bonds. The Gulf institutions were also increasingly net sellers in the main market, which saw no trading of treasury bills. The Total Return Index gained 0.65% to 26,059.03 points, Al Rayan Islamic Index (Price) by 0.57% to 2,783.49 points and All Share Index by 0.75% to 4,043.44 points. The banks and financial sector index shot up 1.23%, transport (0.92%), real estate (0.77%), telecom (0.64%), insurance (0.61%), industrials (0.58%) and consumer goods and services (0.08%). Major gainers in the main market included Ezdan, QNB, Vodafone Qatar, Inma Holding, Estithmar Holding, Masraf Al Rayan, Baladna, Gulf International Services, Aamal Company, Qatar Electricity and Water, Gulf Warehousing and Milaha. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Zad Holding, Qatari German Medical Devices, Qatar Islamic Bank, Medicare Group and Dlala were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares depreciate in value. Qatari individuals’ net profit booking declined substantially to QR6.65mn compared to QR76.58mn on October 17. However, the domestic institutions’ net selling grew significantly to QR37.71mn against QR1.82mn the previous day. The Gulf institutions’ net selling expanded perceptibly to QR12.65mn compared to QR11.21mn on Monday. The Arab retail investors turned net sellers to the tune of QR0.77mn against net buyers of QR3.79mn on October 17. The Gulf individuals’ net profit booking grew marginally to QR0.12mn compared to QR0.02mn the previous day. The foreign institutions’ net buying weakened considerably to QR54.26mn against QR81.54mn on Monday. The foreign individuals’ net buying eased noticeably to QR3.64mn compared to QR4.46mn on October 17. The Arab institutions continued to have no major net exposure for the fifth consecutive session. Total trade volume in the main market soared 32% to 154.47mn shares, whereas value shrank 10% to QR419.57mn and deals by 14% to 14,267. The venture market saw a 50% reduction in trade volumes to 0.04mn equities, 57% in value to QR0.26mn and 45% in transactions to 33.

Gulf Times
Business
Reinsurance growth prospects brighter in Mena region: AM Best

The economic rebound, higher natural resources extraction and plans to enhance insurance penetration brighten the prospects for reinsurance growth in the Middle East and North Africa (Mena), according to AM Best, an international insurance rating agency. It views Mena as having good reinsurance growth potential, supported by rebounding economic activity, the extraction of natural resources, and intentions to increase insurance penetration across the region. A growing number of the region’s primary insurers have shown a renewed interest in participating in the regional reinsurance market on an inward facultative basis, it found. "Inward facultative interest has accelerated since 2020 as primary insurers have looked to bolster their topline and access insurable risk opportunities," it said. AM Best expects primary insurers’ interest in writing inward facultative reinsurance business to remain a competitive dynamic in the coming years, and indicative of reinsurance capacity remaining plentiful in the region. In this context, regional reinsurers will need to demonstrate strong underwriting discipline to ensure that recent positive pricing momentum is not reversed. Hardening market conditions over 2021 continued to benefit regional reinsurers domiciled in the Mena region, it said. "Positive pricing momentum has been maintained over recent renewal seasons, driven by changes in the region’s reinsurance capacity providers, rising claims inflation, elevated frequency of large loss events and improved market discipline," the rating agency said. Current market conditions contrast to the persisting soft market experienced in the region prior to 2020, a by-product of plentiful capacity and high levels of price competition, it added. The reinsurance pricing environment in the Mena region reflects both regional drivers, such as recent underwriting performance strains, and global reinsurance trends, which are clear tailwinds for reinsurance providers in the region. Notwithstanding recent pressures on underwriting margins, overall returns have generally remained "robust" for the region’s reinsurers, with the weighted average return on equity (RoE) for the cohort of companies standing at 10% over the five years to 2021. Thinner underwriting margins have been more than compensated by generally robust investment returns over the period. On a company-by-company basis, the comparability of RoE is somewhat skewed by the prevailing inflationary and interest rate environment in their respective countries of operation.

Gulf Times
Business
QSE settles marginally higher despite foreign funds’ strong buying interests

The Qatar Stock Exchange Monday settled marginally higher despite six of the seven sectors witness buying interests. Notwithstanding the strong buying interests of foreign institutions, the 20-stock Qatar Index was up mere 0.04% or five points to 12,640.12 points, although it touched an intraday high of 12,721 points. The Arab individuals were seen net buyers in the market, whose year-to-date gains were at 8.72%. As much as 60% of the traded constituents extended gains in the main bourse, whose capitalisation nevertheless saw QR0.5bn or 0.01% decrease to QR703.95bn, mainly on the back of microcap segments. The Islamic index was seen outperforming the other indices in the market, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.49mn changed hands across 81 deals. Trade turnover and volumes were on the increase in the main market, while the venture market saw flat trade turnover and volumes. The foreign retail investors were increasingly net buyers in the bourse, which saw no trading of sovereign bonds. However, the local retail investors and domestic funds turned net sellers in the main market, which saw no trading of treasury bills. The Total Return Index was up 0.04% to 25,891.07 points and Al Rayan Islamic Index (Price) by 0.27% to 2,767.81 points, while All Share Index was down 0.01% to 4,013.87 points. The real estate sector index shot up 1.05%, transport (1.01%), consumer goods and services (0.37%), industrials (0.31%) and insurance (0.01%); while telecom declined 0.64% and banks and financial services (0.35%). Major gainers in the main market included Mazaya Qatar, QLM, Aamal Company, Alijarah Holding, Gulf Warehousing, Salam International Investment, Mannai Corporation, Estithmar Holding, Barwa and Nakilat. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Dlala, Qatar Islamic Insurance, Commercial Bank, QIIB and QNB  were among the losers in the main market. The foreign institutions turned net buyers to the tune of QR81.54mn compared with net sellers of QR12.98mn on October 16. The Arab retail investors were net buyers to the extent of QR3.79mn against QR0.74mn the previous day. The foreign individuals’ net buying grew marginally to QR4.46mn compared to QR4.36mn on Sunday. The Gulf institutions’ net selling decreased noticeably to QR11.21mn against QR18.01mn on October 16. However, Qatari individuals turned net sellers to the tune of QR76.58mn compared with net buyers of QR22.71mn the previous day. The domestic institutions were net sellers to the extent of QR1.82mn against net buyers of QR3.96mn on Sunday. The Gulf individuals were net profit takers to the tune of QR0.02mn compared with net buyers of QR0.68mn on October 16. The Arab institutions continued to have no major net exposure for the fourth consecutive session. Total trade volume in the main market soared 34% to 116.96mn shares and value more than doubled to QR467.97mn and deals also more than doubled to 16,494. Although the trade volumes and value in the venture market was flat at 0.08mn equities and QR0.6mn respectively, transactions more than doubled to 60.  

Gulf Times
Business
Projects awarded in Qatar more than doubles quarter-on-quarter in Q3: Kamco Invest

Total contracts awarded in Qatar more than doubled quarter-on-quarter to $3.4bn during the third quarter (Q3) of 2022 with chemicals sector taking the lead, according to Kamco Investment. The value of contracts awarded in Saudi Arabia was seen declining 78.5% quarter-on-quarter and the UAE by 11.9%, Kamco Invest said in its latest report. On an annualised basis, total contracts awarded in Qatar fell 5.1% in Q3-2022. The chemical sector took the lead in terms of value with it accounting for 32.1% ($1.1bn) of the total projects awarded in Qatar during Q3-2022 compared to $250mn value of contracts the sector received during Q3-2021. This was mainly due to the $1bn project to develop the world’s largest ammonia facility awarded by Qatar Fertiliser Company and QatarEnergy Renewable Solutions to a consortium of Germany’s ThyssenKrupp Uhde and Greece/Lebanon headquartered Consolidated Contractors Company (CCC). Total projects awarded in the Qatari construction sector sunk 87% to $63mn during Q3-2022 from $485mn during Q3-2021. The projects market pipeline in the GCC Gulf Cooperation Council) region continues to remain strong with data from MEED Projects showing around $2.5tn worth of projects planned or underway in the region as of mid-October-2022 compared to $2.61tn at the end of June-2022. The aggregate value of projects in pipeline (pre-execution stage) in the GCC stood at $858bn as of October 12, according to data from MEED Projects. In terms of countries, Saudi Arabia makes up 44.8% ($384.5bn) of the GCC projects in the pipeline, followed by the UAE with 17.2% ($147.8bn) and Kuwait with 14.7% ($125.8bn). In terms of sectors, the construction sector accounted for 28.4% or $243.9bn worth of projects in the pre-execution stage in the GCC, followed by transport and power sectors with projects worth $145.6bn and $122bn, respectively. Total value of the contracts awarded in the GCC declined by 40.8% year-on-year during Q3-2022 to $11.1bn. All the GCC countries, barring Qatar that saw a smaller decline, witnessed a double digit fall in their aggregate Q3-2022 year-on-year value of projects awarded. The GCC project awards contracted during the Q3-2022 as global economic challenges mounted, the report said, adding “the decline was intensified by high inflation and continuing supply chain problems mainly due to China’s intermittent Covid-19 restrictions as well as the US-EU sanctions on Russia." In addition, the increase in benchmark rates by global and regional central banks to combat runaway inflation also affected project funding.

Gulf Times
Business
Gulf and foreign institutions drag QSE 83 points; M-cap declines QR4bn

The Qatar Stock Exchange Sunday opened the week weak and its key barometer retreated below 12,700 levels on an across the board selling, especially in the telecom and banking counters. The Gulf institutions were seen increasingly into net selling as the 20-stock Qatar Index shrank more than 88 points or 0.65% to 12,635.04 points, although it touched an intraday high of 12,748 points. The foreign institutions turned net profit takers in the market, whose year-to-date gains were at 8.68%. More than 77% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR4.25bn or 0.6% decrease to QR704bn, mainly on the back of mid and microcap segments. The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.45mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.92mn changed hands across 78 deals. Trade turnover and volumes were on the decline in the main market, while the venture market saw increased trade turnover and volumes. The Arab retail investors were seen bearish in the bourse, which saw no trading of sovereign bonds. However, the foreign retail investors and domestic funds turned net buyers in the main market, which saw no trading of treasury bills. The Total Return Index shed 0.65% to 25,880.65 points, All Share Index by 0.62% to 4,014.26 points and Al Rayan Islamic Index (Price) by 0.52% to 2,760.31 points. The telecom sector index lost 0.93%, banks and financial services (0.74%), industrials (0.55%), insurance (0.38%), transport (0.35%), real estate (0.27%) and consumer goods and services (0.23%). Major losers in the main market included QLM, Gulf International Services, Mazaya Qatar, Salam International Investment, Dlala, Qatar Islamic Bank, Lesha Bank, Industries Qatar, Baladna, Qatari Investors Group, Estithmar Holding, Ooredoo and Gulf Warehousing. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Aamal Company, Qatar Electricity and Water, Al Meera, Milaha and United Development Company were among the gainers in the main market. The Gulf institutions’ net selling increased substantially to QR18.01mn compared to QR7.72mn on October 13. The foreign institutions turned net sellers to the tune of QR12.98mn against net buyers of QR8.26mn the previous trading day. The Arab retail investors were net sellers to the extent of QR0.74mn compared with net buyers of QR7.43mn last Thursday. However, Qatari individuals’ net buying expanded significantly to QR22.71mn against QR6.03mn on October 13. The foreign individuals turned net buyers to the tune of QR4.36mn compared with net sellers of QR0.07mn the previous trading day. The domestic institutions were net buyers to the extent of QR3.96mn against net profit takers of QR10.07mn last Thursday. The Gulf individuals turned net buyers to the tune of QR0.68mn compared with net sellers of QR3.86mn on October 13. The Arab institutions continued to have no major net exposure for the third straight session. Total trade volume in the main market plunged 51% to 87.2mn shares, value by 52% to QR218.3mn and deals by 53% to 7,450. The venture market saw more than doubled trade volumes at 0.08mn equities and value more than tripled to QR0.6mn amidst flat transactions at 24.

Gulf Times
Business
US inflation data dampens sentiments as QSE index tanks 132 points

Ahead of the US inflation data, the Qatar Stock Exchange saw heavy profit booking as its key index plunged 132 points and capitalisation eroded more than QR7bn. The Gulf institutions were seen net profit takers as the 20-stock Qatar Index lost 1.03% to 12,718.25 points, although it touched an intraday high of 12,863 points. The Gulf retail investors were increasingly net sellers in the market, whose year-to-date gains were at 9.4%. More than 70% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR7.34bn or 1.03% decrease to QR708.25bn, mainly on the back of large and midcap segments. The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.67mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR2.29mn changed hands across 79 deals. Trade turnover grew amidst lower volumes in the main market, while the venture market saw declining trade turnover and volumes. The foreign institutions’ substantially weakened net buying had its influence in the bourse, which saw no trading of sovereign bonds. However, the local retail investors were increasingly net buyers in the main market, which saw no trading of treasury bills. The Total Return Index shed 1.03% to 26,051.11 points, the All Share Index by 1.04% to 4,039.17 points and the Al Rayan Islamic Index (Price) by 0.72% to 2,774.61 points. The industrials sector index shrank 1.39%, banks and financial services (1.3%), transport (0.59%), consumer goods and services (0.23%) and insurance (0.23%), while telecom gained 1.02% and real estate 0.04%. Major losers in the main market included Alijarah Holding, Lesha Bank, Al Khaleej Takaful, Mesaieed Petrochemical Holding, QNB, Dlala, Qatar Islamic Bank, Salam International Investment, Industries Qatar, Estithmar Holding, Qatari Investors Group, United Development Company, Mazaya Qatar and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, Aamal Company, QLM, Zad Holding, Vodafone Qatar, Barwa, Qatar Islamic Insurance and Ooredoo were among the gainers in the main market. In the junior bourse, Mekdam Holding saw its shares appreciate in value. The Gulf institutions were net sellers to the tune of QR7.72mn compared with net buyers of QR0.74mn on October 12. The Gulf individuals’ net selling strengthened markedly to QR3.86mn against QR0.47mn the previous day. The foreign institutions’ net buying decreased significantly to QR8.26mn compared to QR28.41mn on Wednesday. However, the Arab retail investors were net buyers to the extent of QR7.43mn against net sellers of QR1.09mn on October 12. Qatari individuals’ net buying expanded noticeably to QR6.03mn compared to QR3.66mn the previous day. The domestic institutions’ net profit booking shrank substantially to QR10.07mn against QR23.8mn on Wednesday. The foreign individuals’ net selling weakened perceptibly to QR0.07mn compared to QR7.44mn compared to QR7.03mn on October 12. The Arab institutions had no major net exposure for the second straight session. Total trade volume in the main market fell 3% to 177.45mn shares, while value shot up 17% to QR452.83mn and deals by 17% to 15,728. The venture market saw a 50% plunge in trade volumes at 0.03mn equities, 65% in value to QR0.16mn and 49% in transactions to 24.

QSE
Business
Foreign funds lift sentiments in QSE as index gain 96 points, M-cap adds QR8bn

The Qatar Stock Exchange on Wednesday gained as much as 96 points, mainly lifted by banks, industrials and telecom sectors. The foreign institutions were increasingly net buyers as the 20-stock Qatar Index grew 0.75% to 12,850.49 points, recovering from an intraday low of 12,757 points. The local retail investors were seen bullish in the market, whose year-to-date gains were at 10.53%. About 66% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR8.17bn or 1.15% increase to QR715.59bn, mainly on the back of large and small cap segments. The Islamic index was seen gaining slower than the other indices in the market, which saw a total of 1.24mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.63mn changed hands across 72 deals. Trade turnover fell amidst higher volumes in the main market, while the venture market saw increased trade turnover amidst flat volumes. The Gulf institutions were seen net buyers, albeit at lower levels, in the bourse, which saw no trading of sovereign bonds. However, the domestic funds were seen bearish in the main market, which saw no trading of treasury bills. The Total Return Index gained 0.75% to 26,321.98 points, All Share Index by 0.83% to 4,081.54 points and Al Rayan Islamic Index (Price) by 0.46% to 2,794.61 points. The industrials sector index shot up 1.46%, telecom (1.2%), banks and financial services (0.86%), real estate (0.35%), insurance (0.16%) and consumer goods and services (0.13%); while transport shrank 0.37%. Major gainers in the main market included Alijarah Holding, Mazaya Qatar, Aamal Company, Ezdan, Al Khaleej Takaful, QNB, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding and Ooredoo. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Doha Insurance, Qatari German Medical Devices, Milaha, Qatar Islamic Bank and United Development Company were among the losers in the main market. The foreign institutions’ net buying increased significantly to QR28.41mn compared to QR6.16mn on October 11. Qatari individuals turned net buyers to the tune of QR3.66mn against net sellers of QR1.87mn the previous day. The Gulf institutions were net buyers to the extent of QR0.74mn compared with net sellers of QR9.43mn on Tuesday. However, the domestic institutions turned net sellers to the tune of QR23.8mn against net buyers of QR3.8mn on October 11. The foreign individuals’ net selling expanded markedly to QR7.44mn compared to QR7.03mn the previous day. The Arab retail investors were net profit takers to the extent of QR1.09mn against net buyers of QR8.67mn on Tuesday. The Gulf individuals’ net selling strengthened marginally to QR0.47mn compared to QR0.19mn on October 11. The Arab institutions had no major net exposure against net profit takers to the tune of QR0.11mn the previous day. Total trade volume in the main market rose 23% to 183.45mn shares, while value declined 2% to QR385.88mn and deals by 9% to 13,424. The venture market saw flat trade volumes at 0.06mn equities but on 6% jump in value to QR0.46mn and 7% in transactions to 47.    

Gulf Times
Business
Global concerns play spoilsport in QSE as index tanks 159 points, M-cap erodes QR11bn

The global apprehensions on rising interest rates and escalating Russia-Ukraine crisis had its ripple effect on the Qatar Stock Exchange, which Tuesday saw its index plummet 159 points and capitalisation erode QR11bn. The industrials, real estate, insurance and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index tanked 1.23% to 12,754.52 points, although it touched an intraday high of 12,966 points. The Gulf institutions were increasingly net sellers in the market, whose year-to-date truncated further to 9.71%. The foreign funds’ substantially weakened net buying had its influence in the main bourse, whose capitalisation saw QR11.09bn or 1.54% decrease to QR707.42bn, mainly on the back of large and midcap segments. The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.9mn changed hands across 62 deals. Trade turnover and volumes were on the increase in the main market, while the venture market saw decreased trade turnover and volumes. More than 86% of the traded constituents were in the red in the bourse, which saw no trading of sovereign bonds. The foreign individual investors were seen bearish and the local retail investors were increasingly net sellers in the main market, which saw no trading of treasury bills. The Total Return Index shed 1.23% to 26,125.39 points, All Share Index by 1.27% to 4,048.05 points and Al Rayan Islamic Index (Price) by 1.22% to 2,781.92 points. The industrials sector index plunged 2.12%, real estate (2.02%), insurance (1.48%), banks and financial services (1.27%) and consumer goods and services (0.58%); while telecom and transport gained 0.52% and 0.42% respectively. Major losers in the main market included Ezdan, Alijarah Holding, Industries Qatar, Mazaya Qatar, Gulf International Services, Al Khaleej Takaful, QNB, Doha Bank, Lesha Bank, Baladna, Mesaieed Petrochemical Holding and Baladna. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, Qatar Industrial Manufacturing, Nakilat, Commercial Bank, Vodafone Qatar and Ooredoo were among the gainers in the main market. The Gulf institutions turned net selling increased markedly to QR9.43mn compared to QR2.77mn on October 10. The foreign individuals were net sellers to the tune of QR7.03mn against net buyers of QR2.67mn the previous day. Qatari individuals’ net profit booking increased perceptibly to QR1.87mn compared to QR0.17mn on Monday. The Arab institutions’ net selling expanded marginally to QR0.11mn against QR0.02mn on October 10. The foreign institutions’ net buying declined significantly to QR6.16mn compared to QR26.41mn the previous day. However, the Arab retail investors were net buyers to the extent of QR8.67mn against net sellers of QR1.79mn on Monday. The domestic institutions turned net buyers to the tune of QR3.8mn compared with net sellers of QR24.07mn on October 10. The Gulf individuals’ net profit booking eased marginally to QR0.19mn against QR0.26mn the previous day. Total trade volume in the main market rose 16% to 148.73mn shares, value by 11% to QR392.25mn and deals by 11% to 14,755. The venture market saw a 25% contraction in trade volumes to 0.06mn equities, 25% in value to QR0.43mn and 25% in transactions to 44.

Gulf Times
Business
QSE index loses 69 points; M-cap erodes QR6bn

Tracking global uncertainties on heightened Russia-Ukraine crisis, the Qatar Stock Exchange Monday fell more than 69 points, mainly dragged by telecom, banking and insurance sectors. The local retail investors were seen net profit takers as the 20-stock Qatar Index settled 0.53% lower at 12,913.88 points, although it touched an intraday high of 13,015 points. The Arab individual investors were also seen bearish in the market, whose year-to-date truncated further to 11.08%. The Gulf individuals’ net selling was seen increasing marginally in the main bourse, whose capitalisation saw QR5.68bn or 0.78% decrease to QR718.51bn, mainly on the back of mid and microcap segments. The Islamic index was seen gaining vis-à-vis declines in the other indices in the market, which saw a total of 0.25mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.96mn changed hands across 33 deals. Trade turnover were on the decline amidst higher volumes in the main market, while the venture market saw decreased trade turnover and volumes. As much as 50% of the traded constituents were in the red in the bourse, which saw no trading of sovereign bonds. The Gulf institutions were net profit takers, albeit at lower levels, in the main market, which saw no trading of treasury bills. The Total Return Index shed 0.53% to 26,451.81 points and the All Share Index by 0.71% to 4,100.26 points, while the Al Rayan Islamic Index (Price) was up 0.05% to 2,816.29 points. The telecom sector index shrank 1.74%, banks and financial services (1.32%) and insurance (0.64%); while transport gained 0.7%, consumer goods and services (0.31%), real estate (0.3%) and industrials (0.07%). Major losers in the main market included Qatar Industrial Manufacturing, QLM, QNB, Ooredoo, Inma Holding and Vodafone Qatar. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Aamal Company, Mesaieed Petrochemical Holding, Qamco, Qatari German Medical Devices and Dlala were among the gainers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value. The domestic institutions turned net sellers to the tune of QR24.07mn compared with net buyers of QR4.68mn on October 9 The Arab retail investors were net sellers to the extent of QR1.79mn against net buyers of QR5.67mn the previous day. The Arab institutions turned net profit takers to the tune of QR0.02mn compared with no major net exposure on Sunday. The Gulf individuals’ net selling expanded marginally to QR0.26mn against QR0.25mn on October 9. The foreign institutions’ net buying declined significantly to QR26.41mn compared to QR93.54mn the previous day. However, the foreign individuals’ net buying shot up markedly to QR2.67mn against QR0.04mn on Sunday. Qatari individuals’ net profit booking decreased substantially to QR0.17mn compared to QR99.03mn on October 9. The Gulf institutions’ net selling shrank noticeably to QR2.77mn against QR4.65mn the previous day. Total trade volume in the main market rose 12% to 128.69mn shares, while value fell 2% to QR353.95mn amidst 84% surge in deals to 13,289. The venture market saw a 38% plunge in trade volumes to 0.08mn equities, 37% in value to QR0.57mn and 23% in transactions to 59.

Gulf Times
Business
Qatar sees 20% year-on-year jump in building permits issued in September: PSA

Qatar registered a strong-double digit year-on-year increase in building permits issued in September with Doha, Al Rayyan and Al Wakra outpacing the national average, according to the official statistics. The total building permits issued in Qatar saw a 20% growth on an annualised basis to 884 in September this year, said the Planning and Statistics Authority. Total building permits issued in Doha witnessed a huge 75% surge on a yearly basis, followed by Al Rayyan (47%), Al Wakra (33%) and Al Khor (18%); even as Al Daayen and Al Shamal saw 33% decline, Al Shahaniya (31%) and Umm Slal (6%). The building permits data is of particular importance as it is considered an indicator for the performance of the construction sector which in turn occupies a significant position in the national economy. The latest survey rather lends support to the Qatar Financial Centre's latest PMI data that suggested the strong momentum of the non-oil private sector, particularly construction, in the beginning of the third quarter. The PSA data showed that of the total number of new building permits issued, Al Rayyan constituted 250 permits or 28% of the total, Doha 227 (26%), Al Wakra (164 or 19%), Al Daayen 116 (13%), Umm Slal 51 (6%), Al Khor 40 (5%), Al Shahaniya 20 (2%) and Al Shamal 16 (2%). On a monthly basis, the total building permits in the country issued saw a 13% increase with Al Khor witnessing 54% jump, Umm Slal (38%), Doha (25%), Al Rayyan (22%) and Al Shamal (7%); whereas Al Shahaniya, Al Wakra and Al Daayen registering 9%, 7% and 4% contraction respectively. The new building permits (residential and non-residential) constituted 40% (356 permits) of the total building permits issued in September 2022, additions 58% (512 permits) and fencing 2% (16 permits). Of the new residential buildings permits, villas topped the list, accounting for 84% (231 permits) of the total, apartments 9% (25) and dwellings of housing loans 5% (13). Among the non-residential sector, commercial structures accounted for 54% or 44 permits, the industrial buildings as workshops and factories 20% (16 permits) and other non-residential buildings 15% (12 permits). Qatar saw a strong 61% year-on-year expansion in the total building completion certificates issued in September 2022 with Al Shamal witnessing 400% growth, Al Daayen (106%), Al Khor (100%), Al Wakra (68%), Doha (66%), Al Rayyan (50%) and Al Shahaniya (11%); while there was an 18% decline in Umm Slal. Qatar saw a total of 565 building completion certificates issued in September 2022, of which 447 or 79% was for the new buildings (residential and non-residential) and 118 or 21% for additions. Of the total number of new building completion certificates issued in the review period, Al Rayyan constituted 28% or 157 certificates, Al Wakra 23% or 131, Doha 19% or 108, Al Daayen 18% or 101, Umm Slal 5% or 27, Al Khor 3% or 16, Al Shamal 3% or 15 and Al Shahaniya 2% or 10. Of the 351 residential buildings completion certificates issued, as many as 263 or 75% were for villas and 68 or 19% for apartments. Of the 263 villas completion certificates issued this September, as many as 82 were in Al Rayyan, 55 in Al Wakra, 48 in Al Daayen, 29 in Doha, 20 in Umm Slal, 13 in Al Shamal, 11 in Al Khor and five in Al Shahaniya. In the case of 68 apartments, Al Rayyan issued 32 completion certificates, Doha 25, Al Daayen four and Al Khor and Al Shamal one each. Of the 10 dwellings of housing loans completion certificates issued, Al Rayyan and Al Daayen saw 10 and Doha and Al Wakra one each.

QSE
Business
QSE brokerages see robust growth in turnover year-on-year in January-September 2022

The Group Securities, QNB Financial Services, a subsidiary of QNB, and Commercial Bank Financial Services together accounted for about 83% of the share trade turnover of the brokerages in the Qatar Stock Exchange during the first nine months of this year. The Commercial Bank's brokerage subsidiary as well as Wasata Financial Services saw more than doubling of their share trade turnover year-on-year during January-September 2022, according to the Qatar Stock Exchange data. The Group Securities’ share stood at 37.74% in January-September 2022 compared to 46.32% the previous year period. Its trading turnover surged 27.57% year-on-year to QR102.69bn. The transactions through it expanded 25.41% on an annualised basis to 2.32mn even as volumes fell 9.43% to 44.56mn equities at the end of September 30, 2022. The QNB subsidiary QNBFS' trade turnover amounted to QR87.64bn, which constituted 32.21% of the total traded value during January-September 2022 against 26.99% a year-ago period. The turnover zoomed 86.47% year-on-year as volumes zoomed 54.35% to 12.07mn stocks on more than tripled transactions to 2.35mn in the review period. The Commercial Bank Financial Services accounted for 12.75% of trade turnover compared to 8.72% during January-September 2021. The brokerage house's trade turnover more than doubled year-on-year to QR34.68bn as volumes almost doubled to 7.46mn shares and deals almost doubled to 0.91mn 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 licenses are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms. Qatar Securities accounted for 7.2% of trade turnover during January-September 2022 compared to 7.17% the previous year period. The brokerage's trading turnover surged 57.22% year-on-year to QR19.59bn although volumes through it fell 6.45% to 3.19mn equities despite 77.27% surge in transactions to 0.39mn at the end of September 2022. Wasata Financial Securities' share was 3.91% of trading turnover during January-September compared to 2.73% in the comparable period of 2021. Its trade turnover more than doubled year-on-year to QR10.65bn as volumes zoomed 47.91% to 3.18mn shares and transactions more than doubled to 0.17mn at the end of September 30, 2022. Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.24% of trade turnover (QR11.54bn), which grew 3.41% year-on-year. The brokerage’s share was 6.42% the previous year period. The deals through it expanded 23.53% on a yearly basis to 0.21mn but volumes shrank 37.85% to 3.58mn stocks at the end of September 2022. Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover expand 86.01% on an annualised basis to QR5.32bn, cornering a market share of 1.95% during the first nine months of 2022 compared to 1.65% a year ago period. The volumes handled by the banking subsidiary shot up 42.11% to 1.08mn equities and deals through it more than doubled to 0.11mn during the review period.    

QSE
Business
Transport, real estate drag sentiments as QSE falls 45 points

The Qatar Stock Exchange on Sunday opened the week weak and its key index fell 45 points, mainly dragged by the transport and real estate sectors. The foreign funds’ substantial net buying support notwithstanding, the 20-stock Qatar Index shrank 0.35% to 12,983.29 points, having touched an intraday high of 13,023 points. The local retail investors’ increased net selling was instrumental in the overall gloom in the market, whose year-to-date truncated to 11.68%. The foreign individuals’ weakened net buying also had its influence in the main bourse, whose capitalisation saw QR1.83bn or 0.25% decrease to QR724.19bn, mainly on the back of microcap segments. The Islamic index was seen declining faster than the other indices in the market, which saw a total of 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.34mn changed hands across 28 deals. Trade turnover and volumes were on the decrease in the main market, while the venture market saw increased trade turnover and volumes. More than 68% of the traded constituents were in the red in the bourse, which saw no trading of sovereign bonds. The Gulf individuals were increasingly net profit takers in the market, which saw no trading of treasury bills. The Total Return Index shed 0.35% to 26,593 99 points, All Share Index by 0.27% to 4,129.39 points and Al Rayan Islamic Index (Price) by 0.46% to 2,814.91 points. The transport sector index tanked 1.48%, realty (1%), industrials (0.34%), consumer goods and services (0.19%) and banks and financial services (0.14%); while telecom and insurance gained 0.56% and 0.29% respectively. Major losers in the main market included Inma Holding, Estithmar Holding, Nakilat, Qatari Investors Group, Qatar National Cement, Masraf Al Rayan, Qatari German Medical Devices, Qatari Investors Group, Aamal Company, Qamco, Ezdan and Barwa. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, Alijarah Holding, Doha Insurance, Mazaya Qatar, Vodafone Qatar, Ooredoo and QNB were among the gainers in the main market. In the juniour bourse, Mekdam Holding saw its shares appreciate in value. Qatari individuals’ net profit booking increased substantially to QR99.03mn compared to QR6.39mn on October 6. The Gulf individuals’ net selling grew marginally to QR0.25mn against QR0.09mn the previous trading day. The foreign individuals’ net buying weakened considerably to QR0.04mn compared to QR10.12mn last Thursday. However, the foreign institutions’ net buying shot up significantly to QR93.54mn against QR6.57mn on October 6. The Arab retail investors turned net buyers to the tune of QR5.67mn compared with net sellers of QR4.47mn the previous trading day. The domestic institutions’ net buying strengthened perceptibly to QR4.68mn against QR3.51mn last Thursday. The Gulf institutions’ net profit booking weakened noticeably to QR4.65mn compared to QR9.26mn on October 6. The Arab institutions had no major net exposure for the second straight session. Total trade volume in the main market fell 38% to 114.95mn shares, value by 31% to QR359.96mn and deals by 57% to 7,247. The venture market saw trade volumes more than double to 0.13mn equities and value also more than double to QR0.91mn on 48% surge in transactions to 77.    

Gulf Times
Business
Higher oil prices, earnings expectations lift QSE index

* Higher oil prices, earnings expectations lift index 333 points, M-cap QR21bn; Islamic equities outperform The strengthening energy prices on global production cut and the upcoming third quarter earnings have instilled confidence in the Qatar Stock Exchange, which witnessed its key index soar as much as 333 points and capitalisation expand QR21bn this week. The foreign institutions were seen increasingly into net buying as the 20-stock Qatar Index shot up 2.63% this week which saw the global credit rating agency Fitch view that the Qatar Central Bank's launch of treasury sukuk is a structural improvement, as it provides domestic Islamic banks’ a venue to invest their excess liquidity. An across the board buying, especially in the industrials and telecom counters, led the overall bullish run this week saw the market heavyweight Industries Qatar (IQ) disclose its plans to fund a new polyvinyl chloride (PVC) plant, whose other partner in Mesaieed Petrochemical Holding Company (MPHC). The foreign individuals were seen net buyers this week which saw the Qatar Financial Centre’s purchasing managers’ index point out that the non-oil private sector continue to be in growth momentum this September. The domestic funds’ weakened net selling also had its influence in the market this week which saw Qatar Insurance and QInvest to jointly establish Epicure Islamic Investment Management. About 78% of the traded constituents extended gains to investors this week which saw Widam Food disclose its plans to foray the Tanzanian market. Both the main and venture markets saw trade turnover and volumes on the decline this week which saw Qatar’s maritime sector report more ship calls and faster growth in general cargo and container handling in August this year. However, the local retail investors were increasingly net sellers this week which saw a total of 0.97mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR2.71mn trade across 68 deals. The Arab individuals turned net profit takers this week which saw as many as 0.47mn Doha Bank-sponsored QETF valued at QR5.88mn change hands across 283 transactions. Market capitalisation was seen expanding QR20.68bn or 2.93% surge to QR726.02bn on the back of large and midcap segments this week which saw the industrials, banking and real estate sectors together constitute more than 86% of the total trade volume in the main market. The Total Return Index shot up 2.63%, All Share Index by 2.64% and All Islamic Index by 3% this week, which saw no trading of sovereign bonds. The industrials sector index zoomed 4.13%, telecom (3.72%), banks and financial services (2.56%), real estate (2.17%), insurance (1.18%), consumer goods and services (0.94%) and transport (0.64%) this week which saw no trading of treasury bills. Major gainers in the main market included IQ, Lesha Bank, Alijarah Holding, Qamco, Qatar Industrial Manufacturing, Ezdan, QNB, Qatar Islamic Bank, Doha Bank, QIIB, Qatari German Medical Devices, Qatar National Cement, Qatari Investors Group, Aamal Company, MPHC, Qatar Insurance, Mazaya Qatar, Ooredoo and Vodafone Qatar. In the venture market, Mekdam Holding saw its shares appreciate in value this week. Nevertheless, Doha Insurance, Mannai Corporation, Zad Holding, QLM and Qatar Islamic Insurance were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares depreciate in value this week. The foreign funds’ net buying increased significantly to QR239.27mn compared to QR141.14mn the week ended September 29. The foreign individuals turned net buyers to the tune of QR8.11mn against net sellers of QR14.63mn the previous week. The domestic institutions’ net selling declined noticeably to QR88.06mn compared to QR101.75mn a week ago. However, local retail investors’ net selling grew drastically to QR127.16mn against QR34.93mn the week ended September 29. The Arab individuals were net profit takers to the extent of QR21.9mn compared with net buyers of QR0.24mn the previous week. The Gulf institutions turned net sellers to the tune of QR5.92mn against net buyers of QR11.97mn a week ago. The Gulf individuals’ net profit booking grew perceptibly to QR4.17mn compared to QR2.67mn the week ended September 29. The Arab institutions were net sellers to the extent of QR0.17mn against net buyers of QR0.61mn the previous week. Total trade volume in the main market was down 2% to 899.45mn shares, value by 12% to QR2.53bn and deals by 15% to 76,882. The venture market reported 71% contraction in trade volumes to 0.38mn equities, 75% in value to QR2.05mn and 63% in transactions to 176.

QSE
Business
Gulf retail investors, domestic funds lift QSE; Islamic index outperforms

An across the board buying – particularly at the telecom, realty and insurance counters – on Thursday lifted the Qatar Stock Exchange, whose key index gained 26 points. The foreign individuals were seen bullish as the 20-stock Qatar Index rose 0.2% to 13,028.7 points, recovering from an intraday low of 13,016 points. The domestic institutions turned net buyers in the market, whose year-to-date gains improved to 12.07%. The local retail investors’ weakened net selling had its influence in the main bourse, whose capitalisation saw QR2.38bn or 0.33% increase to QR726.02bn, mainly on the back of small cap segments. The Islamic index was seen outperforming the other indices in the market, which saw a total of 0.94mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.01mn changed hands across 73 deals. Trade turnover and volumes were on the decrease in the main market, while the venture market saw increased trade turnover and volumes. More than 52% of the traded constituents extended gains to investors in the bourse, which saw no trading of sovereign bonds. The foreign institutions continued to be net buyers but with lesser intensity in the market, which saw no trading of treasury bills. The Total Return Index was up 0.2% to 26,687 points, the All Share Index by 0.22 to 4,140.57 points and the Al Rayan Islamic Index (Price) by 0.47% to 2,828.04 points. The telecom sector index shot up 1.67%, realty (0.98%), insurance (0.79%), industrials (0.3%), transport (0.28%), consumer goods and services (0.11%) and banks and financial services (0.02%). Major gainers in the main market included United Development Company, Alijarah Holding, Ezdan, Vodafone Qatar, Ooredoo, Baladna and Qamco. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value. Nevertheless, Doha Insurance, QLM, Ahlibank Qatar, Masraf Al Rayan and Lesha Bank were among the losers in the main market. The foreign individuals turned net buyers to the tune of QR10.12mn compared with net sellers of QR0.48mn on October 5. The domestic institutions were net buyers to the extent of QR3.51mn against net sellers of QR35.43mn the previous day. Qatari individuals’ net profit booking weakened considerably to QR6.39mn compared to QR35.92mn on Wednesday. The Arab retail investors’ net selling declined perceptibly to QR4.47mn against QR9.74mn on October 5. The Gulf individuals’ net selling eased marginally to QR0.09mn compared to QR0.94mn the previous day. However, the Gulf institutions’ net profit booking strengthened noticeably to QR9.26mn against QR5.43mn on Wednesday. The foreign institutions’ net buying weakened significantly to QR6.57mn compared to QR87.95mn on October 5. The Arab institutions had no major net exposure against net sellers to the extent of QR0.01mn the previous day. Total trade volume in the main market fell 19% to 184.81mn shares and value by 12% to QR521.25mn, whereas deals were up 5% to 17,014. The venture market saw a 20% jump in trade volumes to 0.06mn equities and 91% in value to QR0.42mn on more than doubled transactions to 52.    

Gulf Times
Business
QSE benchmark edges down amid selling pressure

Selling pressure, especially in the telecom, real estate and transport counters, Wednesday steered the Qatar Stock Exchange into negative trajectory; but overall its index remained above 13,000 levels. The Gulf institutions were seen net profit takers as the 20-stock Qatar Index settled 30 points or 0.23% lower at 13,002.99 points, although it touched an intraday high of 13,193 points. The foreign institutions’ weakened net buying had its influence in the market, whose year-to-date gains truncated to 11.85%. The Arab funds turned net sellers, albeit at lower levels, in the main bourse, whose capitalisation saw QR0.76bn or 0.11% decline to QR723.64bn, mainly on the back of microcap segments. The Islamic index shrank faster than the other indices in the market, which saw a total of 0.3mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.47mn changed hands across 179 deals. Trade turnover and volumes were on the decrease in both the main and venture markets. The local retail investors and domestic institutions continued to be net sellers but with lesser intensity in the bourse, which saw no trading of sovereign bonds. The Arab retail investors’ net profit booking was seen weakening in the market, which saw no trading of treasury bills. The Total Return Index shed 0.23% to 26,634.34 points, the All Share Index by 0.14 to 4,131.46 points and the Al Rayan Islamic Index (Price) by 0.35% to 2,814.79 points. The telecom sector index tanked 1.24%, followed by realty (0.87%), transport (0.54%), banks and financial services (0.09%) and industrials (0.02%); while insurance gained 0.53% and consumer goods and services (0.04%). Major losers in the main market included Ooredoo, United Development Company, Ahlibank Qatar, Mesaieed Petrochemical Holding, Baladna, QIIB, Qatar Electricity and Water and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, more than 53% of the traded constituents extended gains in the main market with major gainers being Qamco, QLM, Widam Food, Qatari Investors Group, Ezdan, Salam International Investment and Vodafone Qatar. In the junior bourse, Mekdam Holding saw its shares appreciate in value. The Gulf institutions turned net sellers to the tune of QR5.43mn compared with net buyers of QR11.41mn on October 4. The Arab institutions were net sellers to the extent of QR0.01mn against no major net exposure the previous day. The foreign institutions’ net buying declined significantly to QR87.95mn compared to QR154.59mn on Tuesday. However, Qatari individuals’ net selling weakened considerably to QR35.92mn against QR78.4mn on October 4. The domestic institutions’ net selling shrank drastically to QR35.43mn compared to QR67.29mn the previous day. The Arab retail investors’ net profit booking eased perceptibly to QR9.74mn against QR16.22mn on Tuesday. The Gulf individuals’ net selling decreased noticeably to QR0.94mn compared to QR2.12mn on October 4. The foreign individuals’ net profit booking reduced detectably to QR0.48mn against QR1.96mn the previous day. Total trade volume in the main market fell 20% to 228.27mn shares, value by 20% to QR592.52mn and deals by 20% to 16,156. The venture market saw a 55% plunge in trade volumes to 0.05mn equities, 74% in value to QR0.22mn and 60% in transactions to 20.

Yousuf Mohamed al-Jaida
Business
Non-oil private sector gains momentum; World Cup lifts sentiments to 12-month high: QFC PMI

Non-oil private sector in Qatar gained momentum with output rising markedly in September, according to latest Purchasing Managers’ Index (PMI) survey data from Qatar Financial Centre (QFC). Although new orders fell for the first time in 27 months and back-to-back contractions were seen in employment and inventories, it said the fast-approaching FIFA World Cup supported optimism with sentiment improving to a 12-month high. "Qatar's non-oil economy continued to grow in September, rounding off another solid quarterly performance. There were, however, divergences in latest data with a sharp and substantial increase in output contrasting with a renewed fall in demand. Anecdotal evidence suggested clients were placing orders on hold in preparation of the World Cup while Qatari businesses were at the same time increasing output in anticipation of greater demand," Yousuf Mohamed al-Jaida, chief executive officer, QFC Authority, said. Looking ahead, the FIFA World Cup continued to underpin optimism with firms hopeful that greater tourist activity in the coming months would support output growth. In fact, sentiment improved the highest for a year, according to the report. The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data. The headline Qatar Financial Centre PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. At 50.7 in September, down from 53.7 in August, the latest PMI pointed to a softer improvement in business conditions in Qatar's non-energy sector. Central to the moderation was a renewed decline in new orders. The fall was broad-based with all monitored sectors registering lower sales, led by construction. Panel comments indicated that client projects were placed on hold due to the upcoming World Cup. Despite weaker demand, firms sought to boost their output in September. Business activity increased for the twenty-seventh month running with the latest uptick marked. Moreover, the rate of output growth was quicker than the long-run series average amid expectations of greater activity in the coming months. Firms continued purchasing inputs at the end of the quarter, albeit at a softer pace. Inventory holdings meanwhile fell fractionally. On the price front, a fall in purchase costs contrasted with higher wage expenses, leading to only a marginal increase in overall input prices. Meanwhile, firms sought to boost profits by hiking their selling prices at a near-record rate. Finding that the overall input price inflation rose only marginally, and at a pace that was below than the long-run series average, it said despite this, firms hiked their selling prices at the second-quickest rate in the survey’s history with comments indicating a greater emphasis on their profit margins. The latest PMI data on Qatar’s financial services sector signalled further marked improvement in September. Business activity increased sharply, but the rate of growth eased slightly from August. New orders, meanwhile, rose only slightly, and at the softest pace for 15 months. On the price front, overall input prices fell, albeit only fractionally. Meanwhile, selling prices rose only slightly. Businesses remained optimistic of activity growth in the year-ahead with sentiment firmly in positive territory, despite easing notably from that seen in August.