The easing of the US rate concerns and higher oil prices extended a strong buying support this week to the Qatar Stock Exchange, which overcame the negative sentiments owing to the changed geopolitical situation.
The foreign institutions were seen bullish as the 20-stock Qatar Index gained 0.57% this week which saw QNB report net profit of QR11.87bn in the first nine months of this year.
The banking sector alone saw its index surge in the main market this week which saw QNB successfully refinance $2bn unsecured term loan.
Nevertheless, more than 66% of the traded constituents in the main bourse were in the red this week, which saw Industries Qatar subsidiary Qatar Steel completes acquisition of Al Qataria for Production of Reinforced Steel for QR346mn.
The local retail investors continued to be net buyers but with lesser intensity in the main bourse this week, which saw the International Monetary Fund forecast that Qatar’s real gross domestic product growth is projected to be 2.4% this year and 2.2% in 2024.
The Gulf individuals were seen increasingly into net selling in the main bourse this week which saw the country's hospitality sector report lower (year-on-year) rooms’ yield this August despite a 78% jump in visitor arrivals.
The Islamic index declined vis-a-vis gains in the other indices in the main market this week which saw a total of 0.04mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.08mn trade across 14 deals.
The Gulf institutions turned net profit takers in the main market this week which saw as many as 0.12mn Doha Bank-sponsored exchange-traded fund QETF valued at QR1.15mn change hands across 52 transactions.
Market capitalisation added QR3.85bn or 0.65% to QR597.34bn on the back of midcap segments this week which saw the industrials and banks together constitute more than 52% of the total trade volume in the main bourse.
The Total Return Index rose 0.57% and the All Share Index by 0.68%, while the All Islamic Index lost 0.64% this week, which saw no trading of sovereign bonds.
The banks and financial services sector index surge 2.14%; while transport declined 1.85%, consumer goods and services (1.32%), telecom (0.88%) and insurance (0.77%). The index of industrials was rather unchanged this week which saw no trading of treasury bills.
Major gainers in the main market included QNB, Dlala, Commercial Bank, Industries Qatar, Mekdam Holding, Beema, Qatar National Cement and Qatar Industrial Manufacturing this week which saw Qatar’s automobile sector see a robust month-on-month growth in August 2023.
Nevertheless, Inma Holding, United Development Company, Mazaya Qatar, Baladna, Doha Bank, Masraf Al Rayan, Estithmar Holding, Qamco, Mesaieed Petrochemical Holding, QLM, Ezdan, Ooredoo, Milaha and Nakilat were among the shakers in the main bourse. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value this week.
The foreign funds were net buyers to the tune of QR40.92mn compared with net sellers of QR90.99mn the week ended October 5.
However, the Gulf individuals’ net profit booking increased noticeably to QR21.04mn against QR5.24mn a week ago.
The Gulf funds turned net sellers to the extent of QR17.23mn compared with net buyers of QR37.43mn the previous week.
The domestic institutions were net profit takers to the tune of QR14.15mn against net buyers of QR14.47mn the week ended October 5.
The foreign individuals turned net sellers to the extent of QR4.33mn compared with net buyers of QR6.99mn a week ago.
The Arab individual investors were net sellers to the tune of QR0.36mn against net buyers of QR1.32mn the previous week.
The Arab institutions turned net profit takers to extent of QR0.09mn compared with no major net exposure the week ended October 5.
The local retail investors’ net buying weakened substantially to QR16.27mn against QR36.04mn a week ago.
The main market witnessed a 1% jump in trade volumes to 907.97mn shares, 10% in value to QR2.45bn and 15% in deals to 86,107 this week.
In the venture market, trade volumes shrank 14% to 3.16mn equities, value by 20% to QR4.88mn and transactions by 23% to 366.
The foreign institutions were seen bullish as the 20-stock Qatar Index gained 0.57% this week which saw QNB report net profit of QR11.87bn in the first nine months of this year.
