Santhosh V. Perumal/Business Reporter

Firmer crude in the global markets had a positive influence in the Qatar Stock Exchange, which saw its key index gain a huge 289 points to settle a tad below the 12,000 mark during the week.

Realty stocks appreciated faster than any other asset class during the week that saw International Monetary Fund suggest that Qatar should consider levying 5% value added tax and broaden the ambit of corporate income tax, which together have the potential to enhance non-hydrocarbon gross domestic product by 3.5%.

Local retail investors’ considerably weakened net selling pressure and foreign institutions continued bullish outlook, albeit with lesser intensity, was instrumental in lifting the 20-stock Qatar Index 2.47% during the week that witnessed global crude strengthen to $58 a barrel.

The market opened the week on a stronger note but witnessed net selling on Monday, only to witness sharp accretion for the remainder of the days during the week that saw QNB net up 10% to QR2.7bn in the first quarter of this year.

Dubai reported 3.86% gains, Saudi Arabia (2.48%), Kuwait (0.91%), Bahrain (0.83%), Abu Dhabi (0.53%) and Muscat (0.01%) during the week that saw Islamic Holding Group report 16% jump in net profit to QR3.42mn in the first three months of this year.

Qatari bourse has so far (year-to-date) reported 2.43% decline against Kuwait’s 3.95% fall, Muscat’s 1.17% and Dubai’s 0.5%; while Saudi Arabia rose 7.4%, Bahrain (0.9%) and Abu Dhabi (0.75%).

The Qatari bourse’s overall bullish momentum came amidst weakened net buying interests of non-Qatari individual investors during the week which saw the overall trading volume largely skewed towards the real estate sector.

Small, micro and large cap stocks witnessed the maximum buying interests during the week which witnessed the index that tracks Islamic stocks gain faster than the other indices in the market.

The 20-stock Total Return Index expanded 2.47%, All Share Index (comprising wider constituents) by 2.14% and Al Rayan Islamic Index by 3.78% during the week that saw more than 74% of the stocks show gains to investors.

Realty stocks appreciated 7.52%, consumer goods (2.48%), industrials (2.19%), telecom (1.56%), banks and financial services (0.76%) and transport (0.11%); while insurance fell 0.39% during the week.

Of the 43 stocks, 32 gained, while only 11 declined. Eight each of the 12 banks and financial services and the nine industrials, five of the eight consumer goods, all of the four real estate, three of the five insurers and two each of the two telecom and the three transport stocks closed higher during the week.

Major gainers included Ezdan, Barwa, Mazaya Qatar, Al Meera, Industries Qatar, Aamal Company, Qatar National Cement, Mesaieed Petrochemical Holding, Qatari Investors Group, Al Khaleej Takaful, Vodafone Qatar and Ooredoo during the week.

However, QNB, Qatar Electricity and Water, Nakilat and Widam Food were seen bucking the trend during the week.

Market capitalisation expanded 1.8% or more than QR11bn to QR643.85bn with small, large, mid and micro cap equities gaining 2.26%, 1.22%, 1.2% and 0.13% respectively during the week.

Large, micro, mid and small scrips were seen gaining value to the tune of 7.04%, 2.45%, 0.5% and 0.43% respectively year-to-date.

Local retail investors’ net profit booking plummeted to QR4.29mn against QR118.08mn the previous week.

Domestic institutions’ net selling weakened to QR19.81mn compared to QR48.22mn the week ended April 2.

Non-Qatari retail investors’ net buying plunged to QR9.08mn against QR41.01mn the previous week.

Foreign institutions’ net buying also considerably weakened to QR15.02mn compared to QR125.3mn the week ended April 2.

A total of 44.2mn shares valued at QR1.65bn changed hands across 22,997 transactions during the week.

The real estate sector saw a total of 19.9mn equities worth QR458.04mn change hands across 5,849 transactions and as many as 7.61mn banking stocks valued at QR390.64mn trade in 5,303 deals.

The industrials sector saw a total of 5.49mn shares worth QR386.4mn changed hands across 5,762 transactions and the telecom sector witnessed 5.04mn equities valued at QR128.66mn trade in 2,253 deals.

The market saw a total of 3.79mn consumer goods shares worth QR173.18mn change hands across 2,478 transactions.

The transport segment recorded 1.36mn shares valued at QR65.27mn trade in 760 deals and the insurance saw a total of 1.01mn equities worth QR48.26mn change hands across 592 transactions.

In the debt market, there was no trading of treasury bills and government bonds during the week.