The gains in global energy prices had its reflection in the regional bourses, including the Qatar Stock Exchange (QSE), which traversed through a positive trajectory this week.
The foreign institutions were seen net buyers as the 20-stock Qatar Index rose 0.25% this week which saw the QSE to move to T+2 settlement cycle from the present T+3, effective from March 25.The real estate, transport, consumer goods, industrials and telecom counters witnessed higher than average demand this week which saw the QSE amends the covered short selling procedures for exchange traded fund units and the covered short selling procedures of the market maker, liquidity provider and qualified investor.The Gulf institutions’ weakened net selling pressure had its influence in the main market this week which saw QSE announce that United Development Company (UDC) and Vodafone Qatar to replace Baladna and Ezdan Holding in the index, effective from April 1.However, the local retail investors turned bearish in the main bourse this week which saw Gulf International Services’ strategic growth in Qatar and global markets as it builds new revenue streams by capitalising on opportunities associated with North Field expansion.The domestic funds were seen net sellers in the main market this week which saw Standard and Poor's, a global credit rating agency, view that Qatar's realty sector is undergoing a cyclical correction after the boost related to the World Cup in November-December 2022.The Arab individuals were increasingly net profit takers in the main bourse this week which saw a total of 0.34mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.79mn trade across 54 deals.The foreign retail investors turned net sellers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.03mn change hands across four transactions.The Islamic index was seen gaining faster than the other indices in the main market this week which saw the industrials and banks together constitute more than 59% of the total trade volumes.Market capitalisation added QR2.03bn or 0.35% to QR590.2bn on the back of midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the increase in both the main bourse and junior market this week.The Total Return Index rose 0.55%, the All Share Index by 0.48% and the All Islamic Index by 0.74% this week.The realty sector index zoomed 3.68%, transport (3.1%), consumer goods and services (1.09%), industrials (0.76%) and telecom (0.46%); while banks and financial services was down 0.3% and insurance 0.13% this week.Major gainers in the main market included Meeza, Qatar General Insurance and Reinsurance, UDC, Nakilat, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Masraf Al Rayan, Woqod, Industries Qatar, Qamco, Barwa, Vodafone Qatar and Milaha. In the venture market, Al Mahhar Holding saw its shares depreciate in value this week.Nevertheless, about 56% of the traded constituents were in the red with major losers being Qatar Electricity and Water, Dlala, Qatari German Company for Medical Devices, Qatar National Cement, Doha Insurance, Lesha Bank, Mannai Corporation and Gulf Warehousing this week.The foreign funds were net buyers to the tune of QR166.22mn compared with net sellers of QR21.35mn the week ended March 7.The Gulf institutions’ net profit booking declined substantially to QR3.69mn against QR28.53mn the previous week.However, Qatari individuals turned net sellers to the extent of QR119.91mn compared with net buyers of QR19.39mn a week ago.The domestic funds were net profit takers to the tune of QR27.01mn against net buyers of QR22.46mn the week ended March 7.The Arab individual investors’ net selling strengthened noticeably to QR8mn compared to QR2.63mn the previous week.The foreign retail investors turned net sellers to the extent of QR5.22mn against net buyers of QR9.19mn a week ago.The Gulf individuals were net profit takers to the tune of QR2.41mn compared with net buyers of QR1.68mn the week ended March 7.The Arab institutions had no major net exposure against net sellers to the tune of QR0.2mn the previous week.The main market witnessed a 39% jump in trade volumes to 891.95mn shares, 39% in value to QR2.8bn and 15% in deals to 76,283 this week.In the venture market, trade volumes shot up 58% to 1.93mn equities and value by 55% to QR3.13mn; whereas transactions were down 7% to 194.