* Foreign funds lift QSE sentiments; index settles higher amid hardening interest rates
The foreign institutions’ strong bullish outlook lifted the sentiments in the Qatar Stock Exchange (QSE) this week, which saw the country’s central bank hike the interest rates in response to increase in the US Federal Reserve rates.
The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.36% higher this week which saw the QSE-listed companies report a net profit of QR39.41bn in the first nine months of this year.
The Arab institutions were net buyers, albeit at lower levels, this week which saw Qatar’s maritime sector display robust performance with an 11% year-on-year increase in ship calls in October 2022.
The Gulf institutions’ substantially weakened net selling pressure had its influence in the market this week which saw Qatar’s producers’ price index 44.18% year-on-year this September.
The foreign individuals continued to be net buyers but with lesser intensity this week which saw Oxford Economics view that the FIFA World Cup, hosted by Qatar, seen benefiting the wider Gulf Co-operation Council region.
The Islamic index was seen declining vis-à-vis gains in the other indices this week which saw the US-based Institute of International Finance view that the Gulf economies are in strong footing and that the regional equities outperformed the developed and emerging markets.
The foreign individuals were seen net buyers but with lesser vigour this week which saw a total of 0.59mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR1.59mn trade across 34 deals.
Trade turnover and volumes grew in the main market; while the venture market saw higher value amidst flat volumes this week, which saw as many as 0.17mn Doha Bank-sponsored QETF valued at QR2.07mn change hands across 114.
Market capitalisation was seen gaining QR0.95n or 0.14% to QR687.2bn on the back of microcap segments this week which saw the industrials and banking sectors together constitute more than three-fourth of the total trade volume in the main market.
The Total Return Index rose 0.36% and All Share Index by 0.52%, while All Islamic Index fell 0.38% this week, which saw no trading of sovereign bonds.
The telecom sector shot up 3.83%, banks and financial services (1.4%) and consumer goods and services (0.26%); while industrials declined 1.29%, transport (1.27%), real estate (0.53%) and insurance (0.47%) this week, which saw no trading of treasury bills.
Major gainers in the main market included QIIB, Ooredoo, Baladna, Mannai Corporation, Doha Insurance, QNB, Commercial Bank, Woqod, Qatar Electricity and Water, Qatar Islamic Insurance, United Development Company and Nakilat.
In the venture market, Mekdam Holding saw its shares appreciate in value this week.
Nevertheless, Qatar General Insurance and Reinsurance, Dlala, Aamal Company, Estithmar Holding, Ezdan, Doha Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding, Qamco and Mazaya Qatar were among the losers in the main market.
In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.
The foreign funds turned net buyers to the tune of QR330.04mn against net sellers of QR8.5mn the week ended October 27.
The Arab institutions were net buyers to the extent of QR0.18mn compared with net sellers of QR3.1mn a week ago.
The Gulf institutions’ net profit booking declined significantly to QR8.09mn against QR99.49mn the previous week.
However, the domestic funds’ net selling grew substantially to QR145.65mn compared to QR100.66mn the week ended October 27.
The local retail investors turned net sellers to the extent of QR101.5mn against net buyers of QR152.81mn a week ago.
The Gulf individuals were net sellers to the tune of QR78.83mn compared with net buyers of QR0.42mn the previous week.
The Arab individuals turned net profit takers to the extent of QR9.19mn against net buyers of QR25.87mn the week ended October 27.
The foreign individuals’ net buying weakened noticeably to QR13.04mn compared to QR9.16mn a week ago.
Total trade volume in the main market rose 37% to 991.28mn shares and value by 9% to QR2.73bn, whereas deals were down 5% to 85,091.
Although the venture market saw flattened trade volumes at 0.73mn equities, there was a 55% jump in value to QR5.15mn and 67% in transactions to 351.
The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.36% higher this week which saw the QSE-listed companies report a net profit of QR39.41bn in the first nine months of this year.
The Arab institutions were net buyers, albeit at lower levels, this week which saw Qatar’s maritime sector display robust performance with an 11% year-on-year increase in ship calls in October 2022.
The Gulf institutions’ substantially weakened net selling pressure had its influence in the market this week which saw Qatar’s producers’ price index 44.18% year-on-year this September.
The foreign individuals continued to be net buyers but with lesser intensity this week which saw Oxford Economics view that the FIFA World Cup, hosted by Qatar, seen benefiting the wider Gulf Co-operation Council region.
The Islamic index was seen declining vis-à-vis gains in the other indices this week which saw the US-based Institute of International Finance view that the Gulf economies are in strong footing and that the regional equities outperformed the developed and emerging markets.
The foreign individuals were seen net buyers but with lesser vigour this week which saw a total of 0.59mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR1.59mn trade across 34 deals.
Trade turnover and volumes grew in the main market; while the venture market saw higher value amidst flat volumes this week, which saw as many as 0.17mn Doha Bank-sponsored QETF valued at QR2.07mn change hands across 114.
Market capitalisation was seen gaining QR0.95n or 0.14% to QR687.2bn on the back of microcap segments this week which saw the industrials and banking sectors together constitute more than three-fourth of the total trade volume in the main market.
The Total Return Index rose 0.36% and All Share Index by 0.52%, while All Islamic Index fell 0.38% this week, which saw no trading of sovereign bonds.
The telecom sector shot up 3.83%, banks and financial services (1.4%) and consumer goods and services (0.26%); while industrials declined 1.29%, transport (1.27%), real estate (0.53%) and insurance (0.47%) this week, which saw no trading of treasury bills.
Major gainers in the main market included QIIB, Ooredoo, Baladna, Mannai Corporation, Doha Insurance, QNB, Commercial Bank, Woqod, Qatar Electricity and Water, Qatar Islamic Insurance, United Development Company and Nakilat.
In the venture market, Mekdam Holding saw its shares appreciate in value this week.
Nevertheless, Qatar General Insurance and Reinsurance, Dlala, Aamal Company, Estithmar Holding, Ezdan, Doha Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding, Qamco and Mazaya Qatar were among the losers in the main market.
In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.
The foreign funds turned net buyers to the tune of QR330.04mn against net sellers of QR8.5mn the week ended October 27.
The Arab institutions were net buyers to the extent of QR0.18mn compared with net sellers of QR3.1mn a week ago.
The Gulf institutions’ net profit booking declined significantly to QR8.09mn against QR99.49mn the previous week.
However, the domestic funds’ net selling grew substantially to QR145.65mn compared to QR100.66mn the week ended October 27.
The local retail investors turned net sellers to the extent of QR101.5mn against net buyers of QR152.81mn a week ago.
The Gulf individuals were net sellers to the tune of QR78.83mn compared with net buyers of QR0.42mn the previous week.
The Arab individuals turned net profit takers to the extent of QR9.19mn against net buyers of QR25.87mn the week ended October 27.
The foreign individuals’ net buying weakened noticeably to QR13.04mn compared to QR9.16mn a week ago.
Total trade volume in the main market rose 37% to 991.28mn shares and value by 9% to QR2.73bn, whereas deals were down 5% to 85,091.
Although the venture market saw flattened trade volumes at 0.73mn equities, there was a 55% jump in value to QR5.15mn and 67% in transactions to 351.
