* 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.
Related Story