The Qatar Stock Exchange (QSE) closed in the positive terrain with its key index gaining 44 points and capitalisation added about QR2bn this week, which otherwise saw truncated sessions in view of holidays declared after the historic constitutional referendum.
The foreign funds were seen bullish as the 20-stock Qatar Index gained 0.42% this week which saw the Qatar Central Bank or QCB decide to bring down the deposit rate and the lending rate by 30 basis points to 4.9% and 5.4% respectively.
The telecom and real estate counters witnessed higher than average demand in the main market this week which saw QatarEnergy inaugurate four new conventional-size liquefied natural gas vessels built in the Samsung Heavy Industries Shipyard and the Hanwha Ocean Shipyard in Korea as part of the energy major's historic fleet expansion programme.
The Arab retail investors were increasingly net buyers in the main bourse this week which saw the Qatar Financial Centre’s latest purchasing managers’ index suggest Doha saw faster increase in new businesses in the non-energy private sector, generating renewed expansion in the overall business activity in October 2024.
The Qatar individuals’ weakened net selling had its influence in the main market this week which saw an International Monetary Fund data suggest Qatar to lead the Gulf Co-operation Council or GCC in real oil gross domestic product growth this year with a 1.2% jump against a 3.2% fall in the region.
The Gulf retail investors’ lower net profit booking also had its say in the main bourse this week which saw Standard and Poor's (S&P), an international credit rating agency, view that Qatar's LNG production is slated to rise by 35% from the current levels by 2027 with additional demand coming from Europe and the country’s per capita income rising above $80,000.
The Gulf institutions were seen net buyers in the main market this week, which saw the QCB assistant governor Sheikh Ahmed bin Khaled al-Thani say that the country has an "incredibly bright" future for its capital market with distributed ledger technology (DLT) and digital assets driving the future of the financial industry.
However, the foreign retail investors were seen bearish in the main bourse this week which saw a total of 0.21mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.46mn trade across 39 deals.
The domestic institutions also turned net sellers in the main market this week which saw as many as 4,637 Doha Bank-sponsored exchange-traded fund QETF valued at QR0.05mn change hands across six transactions.
The Islamic index was seen outperforming the other indices in the main market this week, which saw the industrials and realty sectors together constitute about 56% of the total trade volumes.
Market capitalisation added QR1.87bn or 0.3% to QR627.08bn on the back of small cap segments this week, which saw no trading of treasury bills.
Trade turnover and volumes were on the declined in both the main and venture markets this week, which saw no trading of sovereign bonds.
The Total Return Index gained 0.42%, the All Share Index by 0.27% and the All Islamic Index by 0.73% this week, which saw container and bulk cargo through Qatar's ports report a double-digit year-on-year growth in October 2024, indicating the country's growing trade and economic ties with the rest of the world.
The telecom sector index shot up 2.08%, real estate (0.73%), banks and financial services (0.4%) and industrials (0.31%); while transport declined 1%, insurance (0.8%) and consumer goods and services (0.27%) this week.
Major gainers in the main bourse included Estithmar Holding, Ooredoo, Qatar Islamic Insurance, Qatar National Cement, Qatar German Medical Devices, Qatar Islamic Bank, QIIB, Dukhan Bank, Qatari Investors Group, Aamal Company, Industries Qatar and Mazaya Qatar. In the venture market, Al Mahhar Holding saw its shares appreciate in value.
Nevertheless, about 64% of the traded constituents were in the red in the main market with major losers being Doha Insurance, Inma Holding, Gulf Warehousing, Milaha, Alijarah Holding, Lesha Bank, Salam International Investments, Medicare Group, Baladna, Meeza and Gulf International Services. In the juniour bourse, Techno Q saw its shares depreciate in value this week.
The foreign institutions turned net buyers to the tune of QR53.37mn compared with net sellers of QR74.73mn the week ended October 31.
The Arab individual investors’ net buying increased perceptibly to QR15.83mn against QR13.24mn the previous week.
The Gulf institutions were net buyers to the extent of QR5.34mn compared with net profit takers of QR15.83mn a week ago.
The local retail investors’ net selling weakened considerably to QR45.03mn against QR61.59mn the week ended October 31.
The Gulf individuals’ net profit booking eased marginally to QR2.11mn compared to QR2.33mn the previous week.
However, the foreign individuals turned net sellers to the tune of QR16.67mn against net buyers of QR2.83mn a week ago.
The domestic funds were net sellers to the extent of QR10.72mn compared with net buyers of QR138.52mn the week ended October 31.
The Arab institutions had no major net exposure against net profit takers to the extent of QR0.11mn the previous week.
The main market witnessed a 59% plunge in trade volumes to 468.05mn shares, 58% in value to QR1.03bn and 56% in deals to 33,881 this week.
In the venture market, trade volumes tanked 87% to 1.53mn equities, value by 87% QR3.95mn and transactions by 78% to 153.
The foreign funds were seen bullish as the 20-stock Qatar Index gained 0.42% this week
