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Earnings expectations and the interim dividend announcements were seen lifting the sentiments in the Qatar Stock Exchange (QSE), which closed this week on a higher note, even as shakers outnumbered movers.The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.64% this week which saw the International Monetary Fund say that the World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors and the newly created infrastructure can be leveraged to chart a new path for diversification in sectors beyond the oil and gas industries for further economic growth.The bullish grip of the Arab individuals was instrumental in lifting the overall mood in the main bourse this week which saw Doha Bank report QR432.33mn net profit in the first half (H1) of 2024.The domestic institutions’ weakened net profit booking had its influence in the main market this week, which saw Vodafone Qatar ring in net profit of QR293.17mn in H1-2024.The foreign institutions continued to be net buyers but with lesser intensity in the main bourse this week which saw Aamal Company’s H1-2024 net profit at QR188.36mn.However, the local retail investors were increasingly bearish in the main market this week which saw Commercial Bank closes $500mn syndicated loan facility.The Gulf funds were seen increasingly into net profit booking in the main bourse this week which saw United Development Company register net profit of QR145mn in H1-204.The Gulf retail investors were also seen increasingly net sellers in the main market this week which saw a total of 0.01mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.03mn trade across 10 deals.The foreign individuals were increasingly net profit takers in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.09mn change hands across nine transactions.The Islamic index was seen gaining slower than the other indices in the main market this week which saw the banks and consumer goods sectors together constitute about 52% of the total trade volumes.Market capitalisation gained QR4.68bn or 0.81% to QR584.94bn on the back of mid and small cap segments this week, which saw no trading of sovereign bonds.Trade turnover and volumes were on the decline in the main market this week which saw no trading of treasury bills.In the case of venture market, trade turnover and volumes were on a slippery path this week, which saw Baladna report net profit of QR100.42mn in H1-204.The Total Return Index rose 0.69%, the All Share Index by 0.83% and the All Islamic Index by 0.24% this week which saw Gulf Warehousing’s net profit at QR100.35mn in H1-2024.The telecom sector index shot up 1.73%, banks and financial services (1.59%), insurance (0.33%), industrials (0.17%) and transport (0.02%); while real estate declined 1.67% and consumer goods and services 0.34% this week which saw Lesha Bank announce net profit of QR54.13mn in H1-2024.Major shakers in the main bourse included QLM, Baladna, QNB, Ooredoo, QIIB, Inma Holding, Qatar Industrial Manufacturing, Industries Qatar and Milaha. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week which saw global credit rating agency Capital Intelligence (CI) affirm Qatar's long-term (LT) foreign currency rating and LT local currency rating at ‘AA’.Nevertheless, Ezdan, Doha Bank, Qatari Investors Group, Medicare Group, Woqod, Widam Food, Mesaieed Petrochemical Holding, Qamco, Mazaya Qatar and Nakilat were among the losers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value this week which saw CI forecast that Qatar's short-to-medium-term growth outlook remains “relatively favourable” with real gross domestic product slated to grow by an average of 3.3% in 2024-26.The Arab retail investors turned net buyers to the tune of QR8.47mn against net profit takers of QR12.68mn the week ended July 18.The domestic funds’ net selling declined significantly to QR40.71mn compared to QR70.73mn the previous week.However, the local individuals’ net profit booking grew substantially to QR56.17mn against QR35.41mn a week ago.The Gulf institutions’ net selling expanded marginally to QR29.27mn compared to QR28.74mn the week ended July 18.The foreign retail investors’ net profit booking grew marginally to QR11.97mn against QR11.51mn the previous week.The Gulf individuals’ net selling shrank strengthened markedly to QR6.08mn compared to QR2.66mn a week ago.The foreign institutions’ net buying decreased noticeably to QR135.74mn against QR161.75mn the week ended July 18.The Arab institutions had no major net exposure compared with net profit takers of QR0.02mn the previous week.The main market witnessed a 33% plunge in trade volumes to 545.53mn shares, 29% in value to QR1.45bn and 26% in deals to 58,573 this week.In the venture market, trade volumes tanked 54% to 3mn equities, value by 54% to QR5.91mn and transactions by 38% to 312.

Qatar's $2.5bn green bond has driven the other Gulf Co-operation Council (GCC) countries to scout for sustainable debt, as the aggregate issuances (including the green bonds and sukuks) from the region is slated to breach $150bn this year, according to Kamco Invest, a regional economic think-tank."Green bonds remain one of the areas of interest for the GCC issuers with this year’s issuance by Qatar government," Kamco Invest said in its latest report.HSBC was one of the arrangers of the green bond and said other countries in the GCC could follow either this year or next. Oman’s ministry of finance has already prepared a sustainable finance framework under which it intends to borrow.Qatar, which started issuance of green instruments after a gap of three years, topped this year with total issuances of $2.5bn, followed by the UAE and Kuwait with green issuances of $1.8bn and $1bn, respectively.Qatar's debut green deal was allocated into two segments, the first for $1bn for a five-year period with 30 basis points above the US treasury bonds and the second for $1.5bn for a 10-year period with 40 basis points.Qatar’s HE the Minister of Finance Ali bin Ahmed al-Kuwari had said Qatar decided to issue green bonds “mainly to send a strong statement” of its efforts to tackle climate change.The aggregate issuances of green bonds and sukuk in the GCC reached $6.1bn in the first half (H1) of 2024 compared with record issuances of $17.3bn during the whole of 2023.In terms of type of issuer, governments in the region took the lead with total green bonds issuances reaching $3.25bn compared to corporate issuances of $2.8bn. Comparatively, the issuance of green bonds reached $387bn during H1-2024, according to a Bloomberg report, once again led by an increase in issuances from governments.Expecting a record year for the GCC as (total) issuances during H1-2024 have already exceeded last year‘s level; Kamco Invest said: "We expect aggregate issuances to breach the $150bn mark by the end of the year as corporate issuances are expected to tap the market towards the end of the year as rate cuts are implemented."Sovereign issuances, meanwhile, are expected to retreat as compared to H1-2024 levels. The remainder of the year would see maturities of $24.8bn that is almost equally split between governments and corporates, according to the report.Aggregate issuances during the first six months of 2024 stood at a record high of $113.7bn, almost double the issuances during H1-2023, Kamco said, adding the increase was mainly led by higher government issuances of $62.1bn during H1-2024 against $24.4bn during H1-2023. On the other hand, corporate issuances also increased, albeit at a smaller rate of 46.5% or by $16.4bn to $51.6bn during H1-2024.The aggregate GCC bond issuances went up by 65.2% year-on-year to $58.5bn in H1-2024. Sukuk issuances, on the other hand, more than doubled with a solid growth to $55.2bn during H1-2024.

Global weakening of oil prices had its reflection on the Gulf bourses, including the Qatar Stock Exchange, which on Thursday lost more than 39 points.The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.39% to 10,098.36 points, although it touched an intraday high of 10,137 points.The realty, consumer goods, telecom and transport counters saw higher than average selling in the main market, whose year-to-date losses widened to 6.76%.More than 67% of the traded constituents were in the red in the main bourse, whose capitalisation shrank QR1.19bn or 0.2% to QR584.94bn on the back of small cap segments.The Arab and foreign retail investors’ weakened net buying had its influence on the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank), valued at QR0.09mn change hands across 11 transactions.The Gulf institutions continued to be net profit takers but with lesser intensity in the main bourse, which saw no trading of treasury bills.The local retail investors and domestic funds were seen bullish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index shed 0.33%, the All Islamic Index by 0.6% and the All Share Index by 0.23% in the main market.The real estate index tanked 1.54%, consumer goods and services (0.97%), telecom (0.74%), transport (0.4%) and banks and financial services (0.18%); while industrials and insurance gained 0.23% and 0.15% respectively.Major losers in the main bourse included United Development Company, Woqod, Vodafone Qatar, Doha Bank, Qatar Electricity and Water, Qatar Islamic Bank, Dukhan Bank, Qatar German Medical Devices and Estithmar Holding. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Industries Qatar, QLM, Al Meera, Dlala and Qatar Oman Investment were among the movers in the main market. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value.The foreign institutions turned net sellers to the tune of QR23.93mn compared with net buyers of QR20.53mn on July 24.The Arab retail investors’ net buying declined significantly to QR0.32mn against QR3.17mn the previous day.The foreign individual investors’ net buying eased marginally to QR0.09mn compared to QR0.31mn on Wednesday.However, the Qatari individuals were net buyers to the extent of QR17.2mn against net sellers of QR2.67mn on July 24.The domestic funds turned net buyers to the tune of QR11.19mn compared with net sellers of QR11.52mn the previous day.The Gulf institutions’ net profit booking weakened noticeably to QR3.9mn against QR7.65mn on Wednesday.The Gulf retail investors’ net selling decreased perceptibly to QR1mn compared to QR2.17mn on July 24.The Arab institutions continued to have no major net exposure for the ninth straight session.Trade volumes in the main market fell 13% to 100.12mn shares, while value rose less than 1% to QR300.13mn and transactions by 5% to 12,005.The venture market saw a 21% jump in trade volumes to 0.85mn equities and 30% in value to QR1.77mn but on 18% contraction in deals to 85.

The Qatar Stock Exchange yesterday treaded almost a flat path amidst buying interests in four of the seven sectors, and notably in the consumer goods and banking counters.The Gulf institutions were seen increasingly net sellers as the 20-stock Qatar Index shed 0.03% to 10,137.45 points, but recovering from an intraday low of 10,122 points.The Gulf individuals were also increasingly bearish in the main market, whose year-to-date losses were at 6.4%.As much as 49% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0.12bn or 0.02% to QR586.13bn on the back of microcap segments.The foreign funds’ substantially weakened net buying had its influence on the main market, which saw as many as 7,091 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.02mn change hands across four transactions.The local retail investors continued to be bearish but with slackening grip in the main bourse, which saw no trading of treasury bills.The domestic funds continued to be net sellers but with lesser vigour in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the main barometer in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index was down 0.03% and the All Islamic Index by 0.13%, while the All Share Index was up 0.03% in the main market.The industrials sector index declined 0.73% and realty 0.31%; whereas consumer goods and services gained 0.39%, banks and financial services (0.33%), insurance (0.13%) and telecom (0.07%). The transport index was rather unchanged.Major losers in the main market included Mekdam Holding, Alijarah Holding, Industries Qatar, Doha Bank, Qatar National Cement, Ezdan, Mazaya Qatar, Gulf Warehousing and Nakilat.Nevertheless, Medicare Group, Qatar Industrial Manufacturing, Al Khaleej Takaful, Widam Food and Baladna were among the gainers in the main bourse.In the venture market, Al Mahhar Holding saw its shares appreciate in value.The Gulf institutions’ net profit booking strengthened noticeably to QR7.65mn compared to QR1.97mn on July 23.The Gulf retail investors’ net selling increased perceptibly to QR2.17mn against QR1.34mn the previous day.The foreign institutions’ net buying declined substantially to QR20.53mn compared to QR52.53mn on Tuesday.However, the Arab individuals were net buyers to the tune of QR3.17mn against net profit takers of QR0.35mn on July 23.The foreign retail investors turned net buyers to the extent of QR0.31mn compared with net sellers of QR0.63mn the previous day.The Qatari individual investors’ net selling weakened drastically to QR2.67mn against QR24.58mn on Tuesday.The domestic institutions’ net profit booking shrank markedly to QR11.52mn compared to QR23.66mn on July 23.The Arab institutions continued to have no major net exposure for the eighth straight session.Trade volumes in the main market fell 3% to 115.16mn shares, while value rose 3% to QR298.71mn amidst 10% lower transactions at 11,504.The venture market saw a 13% jump in trade volumes to 0.7mn equities, 15% in value to QR1.36mn and 96% in deals to 104.

Climate change and artificial intelligence (AI) are the two critical issues, which are likely to shape the outcome of judgements of global courts, according to a judge of Qatar International Court and Dispute Resolution Centre (QICDRC)."These two subjects are not simply national challenges. They also have international dimensions, which require a collective and somewhat unified response from courts worldwide," Dr Muna al-Marzouqi, a judge of the QICDRC, said in an article that featured in the LexisNexisME newsletter regarding the fifth full meeting of SIFoCC (Standing Forum of International Commercial Courts).In order to address climate change, she said there was a need for coordinated legal framework, which would effectively mitigate its impacts.The use of AI in a legal context also raises important ethical and legal considerations that demand global standards and cooperation, said al-Marzouqi, who is also associate vice president for Academic Planning and Quality Assurance, Qatar University."I expect the QICDRC, along with other international courts, will increasingly look to tackle these issues in order to better serve our planet and uphold the integrity of legal system," according to her.The judge said QICDRC is also constantly developing its rules and procedures to make these relationships better among commercial courts, mediation and arbitration.Recalling the recently held meeting of the SIFoCC in Doha, she said it highlighted the way in which judicial bodies can help to encourage alternative dispute resolution (ADR) methods, which are often more efficient and effective than traditional litigation.ADR methods offer parties the flexibility to resolve disputes in a less adversarial and more cost-effective way, according to al-Marzouqi."These methods can also significantly reduce the burden of courts, speed up the resolution process, and provide outcomes which are satisfactory for the parties involved," she said.However, it was not just a one sided approach, she said, adding there were also best practices and approaches that the QICDRC has been taking and these included the role of the registry and the work it has done on the Maroon Book, which is the first comprehensive review of proceedings before a court in its jurisdiction."There was also interest in the way we have used automation to support case filing and case management procedures. Automation now plays a crucial part in supporting parties who are filing submissions, minimising errors and helping to manage time effectively," al-Marzouqi said.This transformation has also supported QIDCRC’s broader goal of enhancing access to justice and improving the overall effectiveness of the judicial system, according to her.

A higher than average demand, especially in the real estate, telecom and transport counters, led the Qatar Stock Exchange (QSE) continue in the positive trajectory for the second straight session.The foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index rose about 20 points or 0.2% to 10,140.42 points, recovering from an intraday low of 10,123 points.The Gulf institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses truncated further to 6.37%.As much as 50% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.89bn or 0.15% to QR586.25bn on the back of microcap segments.The foreign individuals’ lower net selling had its say in the main market, which saw as many as 3,000 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.07mn change hands across one transaction.The local retail investors’ bearish grip was seen slackening in the main bourse, which saw no trading of treasury bills.However, the domestic funds were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the main barometer in the main bourse, whose trade turnover fell amidst higher volumes.The Total Return Index gained 0.19%, the All Islamic Index by 0.17% and the All Share Index by 0.16% in the main market.The real estate sector index rose 0.36%, telecom (0.34%), transport (0.22%), industrials (0.22%), industrials (0.2%) and banks and financial services (0.19%); while insurance declined 0.53% and consumer goods and services 0.21%.Major gainers in the main market included Mekdam Holding, Alijarah Holding, QLM, Qatar Industrial Manufacturing and Qatar Electricity and Water. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Medicare Group, Dlala, Al Faleh Educational Holding, Zad Holding and Widam Food were among the shakers in the main bourse.The Qatari individual investors’ net selling declined markedly to QR24.58mn compared to QR27.34mn on July 22.The foreign retail investors’ net profit booking shrank noticeably to QR0.63mn against QR8.6mn the previous day.The Gulf institutions’ net selling weakened significantly to QR1.97mn compared to QR7.53mn on Monday.However, the domestic institutions’ net profit booking expanded considerably to QR23.66mn against QR13.54mn on July 22.The Gulf retail investors turned net sellers to the tune of QR1.34mn compared with net buyers of QR0.49mn the previous day.The Arab individuals were net profit takers to the extent of QR0.35mn against net buyers of QR1.95mn on Monday.The foreign institutions’ net buying eased marginally to QR52.53mn compared to QR54.59mn on July 22.The Arab institutions continued to have no major net exposure for the seventh straight session.Trade volumes in the main market soared 20% to 118.67mn shares, while value shrank 5% to QR290.66mn and transactions by 1% to 12,826.The venture market saw about 16-fold jump in trade volumes to 0.62mn equities and value by more than 13-fold to QR1.18mn on more than tripled deals to 53.

Buoyed by foreign institutions’ increased buying interests, the Qatar Stock Exchange (QSE) yesterday gained more than 60 points and its key index surpassed 10,100 levels.An across the board buying – particularly in the transport, banking and consumer goods sectors – led the 20-stock Qatar Index 0.6% to 10,120.68 points, recovering from an intraday low of 10,073 points.The Gulf retail investors turned net buyers in the main market, whose year-to-date losses truncated to 6.56%.The Gulf institutions’ weakened net selling had its influence in the main bourse, whose capitalisation added QR3.34bn or 0.57% to QR585.36bn on the back of mid and small cap segments.The Arab individuals continued to be net buyers but with lesser intensity in the main market, which saw as many as 4,537 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.61mn change hands across three transactions.The local retail investors were increasingly net profit takers in the main bourse, which saw no trading of treasury bills.The foreign individuals were also increasingly bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index gained 0.6%, the All Islamic Index by 0.45% and the All Share Index by 0.62% in the main market.The transport sector index soared 1.16%, banks and financial services (0.84%), consumer goods and services (0.72%), insurance (0.57%), telecom (0.26%), real estate (0.08%) and industrials (0.06%).Major gainers in the main market included Baladna, Nakilat, Beema, Zad Holding, QIIB, Commercial Bank, Dukhan Bank and Vodafone Qatar.Nevertheless, Medicare Group, Widam Food, QLM, Doha Bank and Alijarah Holding were among the shakers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.The foreign institutions’ net buying increased significantly to QR54.59mn compared to QR32.04mn on July 21.The Gulf retail investors turned net buyers to the tune of QR0.49mn against net profit takers of QR2.07mn on Sunday.The Gulf institutions’ net selling declined marginally to QR7.53mn compared to QR8.22mn the previous day.However, the Qatari individuals’ net selling strengthened markedly to QR27.34mn against QR18.8mn on July 21.The domestic institutions’ net profit booking expanded noticeably to QR13.54mn compared to QR3.17mn on Sunday.The foreign individual investors’ net selling grew perceptibly to QR8.6mn against QR3.15mn the previous day.The Arab retail investors’ net buying weakened notably to QR1.95mn compared to QR3.37mn on July 21.The Arab institutions continued to have no major net exposure for the sixth straight session.Trade volumes in the main market shrank 12% to 98.81mn shares, while value shot up 18% to QR305.91mn and transactions by 42% to 13,003.The venture market saw 94% plunge in trade volumes to 0.04mn equities, 94% in value to QR0.09mn and 72% in deals to 15.

The World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors and the newly created infrastructure can be leveraged to chart a new path for diversification in sectors beyond the oil and gas industries for further economic growth, the International Monetary Fund (IMF) has said.The public investment programme helped drive most of Qatar’s economic diversification over the past decade, contributing on average 5–6 percentage points annually to non-hydrocarbon real GDP (gross domestic product) growth, Ran Bi and Ken Miyajima, who are in the IMF’s Middle East and Central Asia Department, said in a report."Going forward, the newly created infrastructure can be leveraged to generate new jobs, businesses, and opportunities in sectors beyond the oil and gas industries for further economic growth," the authors said.Qatar continues to enjoy economic gains after hosting the 2022 FIFA World Cup, which boosted its global profile, IMF said, adding visitor arrivals in 2023 were nearly twice pre-pandemic levels, and tourism this year reached new heights.Hosting the World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors as its massive public infrastructure investment programme since 2011 built out everything from ports and roads to metro and airports, they said, adding the cost of stadiums represented only about 5% of the total infrastructure investment, by some estimates.The IMF analysis suggests that reforms to attract more skilled foreign workers, ease access to financing for small and medium enterprises, and encourage competition and trade could generate the most significant growth gains.Simulations suggest that a comprehensive package of labour market and business environment reforms could boost annual non-hydrocarbon growth by close to three percentage points over the medium term.To maximise gains, the authorities should ensure that complementary reforms are properly sequenced and consistent with the country’s capacity for implementation. Continuing progress with digitalisation and climate actions can generate new sources of growth and enhance sustainability, it added.Highlighting that structural reforms have also accelerated; the report said Qatar has enhanced labour protection for foreign workers, who account for about 95% of the labour force.Qatar was the first Gulf Cooperation Council country to abolish Kafala, a sponsorship system for foreign workers that limits their mobility. The government also implemented initiatives to improve business efficiency and attract foreign direct investment, according to the report.Furthermore, Qatar has advanced digitalization efforts significantly, ranking 16th among 198 countries in the World Bank’s GovTech Maturity Index.Looking ahead, Qatar’s key challenge remains transitioning from public sector-led growth to a more diversified, private sector-driven model, as envisioned by Qatar National Vision 2030, it said.Achieving this transformation requires bold reforms to boost productivity, foster a more conducive business environment, and leverage progress in digitalisation and climate actions, according to the IMF’s latest annual economic review.Qatar’s Third National Development Strategy (2024-30) was launched in January 2024 and has set the strategic priorities in line with IMF advice.

Global credit rating agency Capital Intelligence has affirmed Qatar's long-term foreign currency rating (LT FCR) and LT local currency rating (LT LCR) at ‘AA’. The sovereign’s short-term (ST) FCR and ST LCR have been affirmed at ‘A1+’. The outlook for the ratings remains "stable".The ratings reflect Qatar’s very strong external balances and budgetary performance, supported by still favourable liquefied natural gas (LNG) prices.The ratings factors the country’s capacity to absorb external or financial shocks given the large portfolio of foreign assets held by the Qatar Investment Authority (QIA) and consequent comfortable net external creditor position when including these assets.The ratings continue to be supported by substantial hydrocarbon reserves, expanding LNG (liquefied natural gas) production and export capacity, and very high GDP (gross domestic product) per capita, as well as high and increasing official foreign reserves.Qatar's financial buffers remain large, benefitting from still favourable hydrocarbon prices, it said.Very large budget and current account surpluses have contributed to a very high net asset position, with QIA’s total assets estimated at around 175.3% of projected GDP and 163.4% of gross external debt this year – although an assessment of the quality and liquidity of these assets is hindered by limited transparency.Highlighting that the public finances remain strong, CI said the central government budget position is expected to post a very high surplus of 4.6% of GDP in 2024 against 4.8% in 2023."Moving forward, the budget surplus is expected to average at 4.1% of GDP in 2025-26, supported by an expected increase in LNG production capacity from the North Field and consequently, a lower fiscal breakeven hydrocarbon price," it said.While the reliance on hydrocarbon revenues remains a rating constraint, the sovereign has ample leeway to respond to severe fluctuations in hydrocarbon prices given the size of fiscal buffers and the degree of expenditure flexibility.The central government deposits stood at 13.2% of GDP in May 2024, while total government and government institution deposits in the domestic banking system alone were around 42.2% of GDP.According to CI, gross central government debt (including short-term treasury bills and bank overdrafts) is expected to decline further to 41.8% of GDP (144.7% of revenues) in 2024, from 44% in 2023 (147.4%), reflecting nominal GDP growth and a large primary budget surplus.The rating agency expects debt dynamics to remain favourable in the medium term, resulting in a further decrease in the central government debt-GDP ratio to 39.1% by 2026.Finding that external finances as "very strong", CI said the current account is slated to remain in a very large surplus of 13.2% of GDP in 2024 compared to 15.5% in 2023.The rating agency expects the current account to average at a very high – albeit narrowing – surplus of 10.3% of GDP in 2025-26, reflecting its expectation of a slight decline in hydrocarbon prices in the medium term. As a percentage of GDP, gross external debt is expected to decrease further to 107.4% in 2024 (from 114.3% in 2023).It is, however, projected to increase slightly to 181.5% of current account receipts (CARs) in 2024, against 179.6% in 2023, reflecting declining hydrocarbon exports.Official foreign exchange reserves rose to $68.3bn in May 2024 from $67.4bn in December 2023.(Ends)

The Qatar Stock Exchange (QSE) yesterday opened the week on a stronger note with its key index gaining as much as 26 points on the back of foreign funds’ buying interests.The telecom, industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.26% to 10,060.21 points, recovering from an intraday low of 9,994 points.The Gulf institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses were at 7.11%.The Arab individuals continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR1.76bn or 0.3% to QR582.02n on the back of midcap segments.The local individuals were increasingly seen bearish in the main market, which saw no trading of exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank).The domestic institutions turned net sellers in the main bourse, which saw no trading of treasury bills.The foreign retail investors were seen net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the sloppy path.The Total Return Index gained 0.26%, the All Islamic Index by 0.36% and the All Share Index by 0.27% in the main market.The telecom sector index shot up 1.8%, industrials (0.41%), banks and financial services (0.41%) and insurance (0.01%); while transport declined 0.96%, real estate (0.27%) and consumer goods and services (0.26%).Major gainers in the main market included Ahlibank Qatar, Ooredoo, Medicare Group, Milaha, QLM and Industries Qatar.Nevertheless, Nakilat, Ezdan, Qatari Investors Group, QIIB, Dlala and Al Faleh Educational Holding were among the shakers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.The foreign institutions’ net buying increased significantly to QR32.04mn compared to QR7.21mn on July 18.The Gulf institutions’ net profit booking decreased noticeably to QR8.22mn against QR11.32mn the previous trading day.However, the Qatari individuals’ net selling expanded markedly to QR18.8mn compared to QR7.99mn last Thursday.The domestic institutions turned net sellers to the tune of QR3.17mn against net buyers of QR8.01mn on July 18.The foreign individuals were net sellers to the extent of QR3.15mn compared with net buyers of QR0.34mn the previous trading day.The Gulf retail investors turned net profit takers to the tune of QR2.07mn against net buyers of QR0.34mn last Thursday.The Arab retail investors’ net buying weakened marginally to QR3.37mn compared to QR3.41mn on July 18.The Arab institutions continued to have no major net exposure for the fifth straight session.Trade volumes in the main market shrank 37% to 112.78mn shares, value by 45% to QR258.78mn and transactions by 52% to 9,185.The venture market saw 49% surge in trade volumes to 0.79mn equities and 35% in value to QR1.52mn but on 8% fall in deals to 55.

Rising geopolitical uncertainties and apprehensions over the US interest rate cut had their ripple effect on the Qatar Stock Exchange (QSE), which closed this week on a weaker note.The domestic funds were seen net profit takers as the 20-stock Qatar Index plunged 1.41% or 143 points this week which saw Qatar Islamic Bank report net profit of QR2.07bn in the first half (H1) of 2024.An across the board selling, particularly in the telecom counter, was seen dampening the sentiments in the main bourse this week which saw Commercial Bank of Qatar report H1-2024 net profit of QR1.57bn.More than 65% of the traded constituents were in the red in the main market this week, which saw Masraf Al Rayan register net profit of QR7789.06mn in H1-2024.The foreign retail investors were increasingly net sellers in the main bourse this week which saw Dukhan Bank report QR784.14mn net profit in January-June 2024.However, the foreign funds were increasingly net buyers in the main market this week which saw Ahlibank Qatar register net profit of QR383.01mn in the first six months of this year.The local retail investors continued to be net sellers but with lesser intensity in the main bourse this week which saw Milaha and Qatar Steel enter into a five-year stevedore services deal.The Arab retail investors also continued to be bearish but with lesser vigour in the main market this week which saw a total of 0.05mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.1mn trade across 19 deals.The Gulf individuals continued to be net profit takers but with lesser intensity in the main bourse this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.3mn change hands across 22 transactions.The Islamic index was seen declining slower than the main barometer in the main market this week which saw the banks and industrials sectors together constitute about 56% of the total trade volumes.Market capitalisation eroded QR8.51bn or 1.45% to QR580.26bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.Trade turnover fell amidst higher volumes in the main market this week which saw no trading of treasury bills.In the case of venture market, trade turnover and volumes were on an increasing pitch this week, which saw Masraf Al Rayan adopt interim dividend payment framework.The Total Return Index fell 1.07%, the All Share Index by 0.91% and the All Islamic Index by 1.3% this week which saw the Qatar Financial Markets Authority issue new controls for a company's buyback of its shares with the intention of selling.The telecom sector index tanked 2.79%, industrials (1.38%), insurance (1.09%), banks and financial services (0.73%), real estate (0.51%), transport (0.5%) and consumer goods and services (0.01%) this week which saw Milaha announce new pendulum service MGX 2 (Milaha Gulf Express 2), to be deployed between China-India/Gulf.Major shakers in the main bourse included Al Meera, Qatar Electricity and Water, Ooredoo, Aamal Company, Qatar Islamic Bank, QNB, Commercial Bank, Al Faleh Educational Holding, Qatar National Cement, Industries Qatar, United Development Company, Vodafone Qatar, Nakilat and Gulf Warehousing. In the venture market, Techno Q saw its shares depreciate in value this week.Nevertheless, Widam Food, Doha Bank, Zad Holding, Beema, Gulf International Services, Salam International Investment, Qatari Investors Group and Milaha were among the movers in the main market. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value this week.The domestic funds turned net sellers to the tune of QR70.73mn compared with net buyers of QR124.84mn the week ended July 11.The foreign retail investors’ net selling increased noticeably to QR11.51mn against QR0.85mn the previous week.However, the foreign institutions’ net buying strengthened substantially to QR161.75mn compared to QR14.19mn a week ago.The local individuals’ net selling decreased drastically to QR35.41mn against QR86.36mn the week ended July 11.The Gulf institutions’ net selling declined perceptibly to QR28.74mn compared to QR31.35mn the previous week.The Arab retail investors’ net profit booking weakened marginally to QR12.65mn against QR13.05mn a week ago.The Gulf individuals’ net selling shrank markedly to QR2.66mn compared to QR6.72mn the week ended July 11.The Arab institutions’ net profit booking eased marginally to QR0.02mn against QR0.68mn the previous week.The main market witnessed an 8% jump in trade volumes to 812.26mn shares but on 1% fall in value to QR2.05bn amidst 5% higher deals at 79,338 this week.In the venture market, trade volumes shot up 11% to 6.49mn equities and value by 11% to QR12.82mn, while transactions declined 24% to 500.

Reflecting the global sentiment over the future path of US rates and the increasing geopolitical uncertainties, the Qatar Stock Exchange yesterday fell more than 117 points and its capitalisation eroded more than QR8bn.An across the board selling – particularly at the telecom and industrials counters – led the 20-stock Qatar Index to plunge 1.16% to 10,034.26 points, although it touched an intraday high of 10,092 points.The Gulf institutions were seen increasingly into net selling in the main market, whose year-to-date losses widened further to 7.35%.More than 79% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR8.14bn or 1.38% to QR580.26n on the back of large and midcap segments.The local individuals were increasingly net profit takers in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across four deals.The foreign institutions’ substantially weakened net buying had its influence in the main bourse, which saw no trading of treasury bills.However, the domestic funds were net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the sloppy path.The Total Return Index shed 0.82%, the All Islamic Index by 0.95% and the All Share Index by 0.78% in the main market.The telecom sector index plummeted 2.38%, industrials (1.1%), real estate (0.69%), transport (0.62%), consumer goods and services (0.6%), banks and financial services (0.57%) and insurance (0.3%).Major shakers in the main market included Ooredoo, QNB, Zad Holding, Qatar Electricity and Water, Widam Food, Commercial Bank, Al Meera, Industries Qatar, Ezdan, Vodafone Qatar, Gulf Warehousing and Nakilat.In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.Nevertheless, Doha Bank, Qatar Oman Investment, Qatari Investors Group, Gulf International Services and Widam Food were among the gainers in the main bourse.The Gulf institutions’ net profit booking increased perceptibly to QR11.32mn compared to QR8mn on July 17.The Qatari individual investors’ net selling expanded noticeably to QR7.99mn against QR0.74mn on Wednesday.The foreign institutions’ net buying declined significantly to QR7.21mn compared to QR45.43mn the previous day.The Gulf individual investors’ net buying weakened marginally to QR0.34mn against QR0.65mn on July 17.However, the domestic institutions turned net buyers to the tune of QR8.01mn compared with net sellers of QR20.95mn on Wednesday.The Arab retail investors were net buyers to the extent of QR3.41mn against net profit takers of QR5.99mn the previous day.The foreign individuals turned net buyers to the tune of QR0.34mn compared with net sellers of QR10.39mn on July 17.The Arab institutions continued to have no major net exposure for the fourth straight session.Trade volumes in the main market were down 5% to 177.7mn shares and value by 1% to QR472.14mn, while transactions rose 12% to 19,270.The venture market saw 32% plunge in trade volumes to 0.53mn equities, 33% in value to QR1.13mn and 38% in deals to 60.

The Qatar Stock Exchange today witnessed about 79% of the traded constituents end in red, leading to a 42-point decline in the key index and QR1.67bn in capitalisation.The domestic institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.41% to 10,151.72 points, but recovering from an intraday low of 10,065 points.An across the board selling – particularly in insurance, consumer goods and banks – dampened the sentiments in the main market, whose year-to-date losses widened to 6.27%.The foreign retail investors were increasingly bearish in the main bourse, whose capitalisation declined 0.28% to QR588.4bn on the back of small-cap segments.The Arab individuals were also seen increasingly net sellers in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.02mn trade across four deals.The local retail investors turned net profit takers in the main bourse, which saw no trading of treasury bills.However, the foreign funds were increasingly net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index shed 0.41%, the All Islamic Index by 0.38% and the All Share Index by 0.39% in the main market.The insurance sector index lost 0.93%, consumer goods and services (0.65%), banks and financial services (0.48%), transport (0.28%), real estate (0.18%), telecom (0.17%) and industrials (0.12%).Major shakers in the main market included Widam Food, Qatar Islamic Bank, Zad Holding, Qatar Oman Investment, Qatar Insurance, Commercial Bank, QIIB, Aamal Company and Nakilat.In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.Nevertheless, Meeza, Doha Bank, Qatari Investors Group, Gulf International Services and Dlala were among the gainers in the main bourse.The domestic institutions’ net selling increased noticeably to QR20.95mn compared to QR14.79mn on July 16.The foreign individual investors’ net selling grew substantially to QR10.39mn against QR0.66mn the previous day.The Arab retail investors’ net profit booking strengthened markedly to QR5.99mn compared to QR2.53mn on Tuesday.The Qatari individual investors turned net sellers to the tune of QR0.74mn against net buyers of QR8.52mn on July 16.However, the foreign institutions’ net buying soared significantly to QR45.43mn compared to QR18.92mn the previous day.The Gulf individual investors were net buyers to the extent of QR0.65mn against net profit takers of QR1.03mn on Tuesday.The Gulf institutions’ net selling weakened marginally to QR8mn compared to QR8.41mn on July 16.The Arab institutions continued to have no major net exposure for the third straight session.Trade volumes in the main market shot up 33% to 186.32mn shares, value by 48% to QR478.48mn and transactions by 27% to 17,279.The venture market saw a 13% surge in trade volumes to 0.78mn equities, 23% in value to QR1.69mn and 5% in deals to 96.

The Qatar Stock Exchange (QSE) on Monday gained more than 24 points on buying interests, especially in the banks, realty and telecom sectors.The foreign funds were increasingly net buyers as the 20-stock Qatar Index gained 0.24% to 10,196.3 points, recovering from an intraday low of 10,132 points.The foreign individuals were seen bullish in the main market, whose year-to-date losses truncated to 5.86%.About 49% of the traded constituents extended gains in the main bourse, whose capitalisation added QR1.17bn or 0.2% to QR590.76bn on the back of midcap segments.The Gulf funds turned net buyers, albeit at lower levels, in the main market, which saw 8,320 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across five deals.However, the domestic institutions were increasingly net sellers in the main bourse, which saw no trading of treasury bills.The local retail investors were also increasingly bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index rose 0.24%, the All Islamic Index by 0.29% and the All Share Index by 0.22% in the main market.The banks and financial services sector index gained 0.41%, realty (0.36%), telecom (0.27%) and transport (0.1%); while insurance declined 0.34%, industrials 0.04% and consumer goods and services (0.01%).Major shakers in the main market included QIIB, Mesaieed Petrochemical Holding, Dukhan Bank, Zad Holding and Lesha Bank. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Widam Food, Mazaya Qatar, Ezdan, Qatar National Cement and Salam International Investment were among the losers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The foreign institutions’ net buying increased substantially to QR65.81mn compared to QR24.38mn on July 14.The foreign individual investors turned net buyers to the tune of QR1.11mn against net sellers of QR1.9mn the previous day.The Gulf institutions were net buyers to the extent of QR0.02mn compared with net profit takers of QR1.01mn on Sunday.However, the domestic institutions’ net selling expanded significantly to QR36.93mn against QR6.03mn on July 14.The Qatari individual investors’ net selling strengthened noticeably to QR22.29mn compared to QR12.9mn the previous day.The Arab retail investors’ net profit booking reinforced markedly to QR5.84mn against QR1.71mn on Sunday.The Gulf individual investors’ net selling zoomed perceptibly to QR1.87mn compared to QR0.75mn on July 14.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.02mn the previous day.Trade volumes in the main market were up less than 1% to 154.58mn shares, value by 49% to QR465.17mn and transactions by 45% to 17,317.The venture market saw 74% plunge in trade volumes to 0.92mn equities, 70% in value to QR1.98mn and 22% in deals to 111.

The Qatar Stock Exchange (QSE) on Sunday opened the week weak with its key index losing more than five points even as five of the seven sectors experienced buying interests.The domestic institutions were seen net sellers as the 20-stock Qatar Index settled 0.05% lower at 10,171.95 points, but recovering from an intraday low of 10,141 points.The banking and industrials counters witnessed mild net profit booking pressure in the main market, whose year-to-date losses were at 6.08%.More than 48% of the traded constituents were losers in the main bourse, whose capitalisation however added QR0.82bn or 0.14% to QR589.59bn on the back of small cap segments.The foreign individuals were seen bearish in the main market, which saw 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.31mn trade across 26 deals.The foreign institutions’ lower net buying had its influence in the main bourse, which saw no trading of treasury bills.The local retail investors continued to be net seller but with lesser intensity in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the main barometer of the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index was down 0.05% and the All Islamic Index by 0.1%, while the All Share Index was up 0.09% in the main market.The banks and financial services sector index fell 0.08% and industrials 0.01%; while consumer goods and services gained 1.36%, transport (0.26%), insurance (0.24%), real estate (0.09%) and telecom (0.03%).Major shakers in the main market included Al Faleh Educational Holding, Al Meera, Meeza, QIIB and Qatar Insurance.Nevertheless, Zad Holding, Qatar General Insurance and Reinsurance, Widam Food, Ezdan, Al Khaleej Takaful, Alijarah Holding and Inma Holding were among the gainers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.The domestic institutions turned net sellers to the tune of QR6.03mn compared with net buyers of QR0.58mn on July 11.The foreign individual investors were net sellers to the extent of QR1.9mn against net buyers of QR5.08mn last Thursday.The foreign institutions’ net buying eased marginally to QR24.38mn compared to QR25.93mn the previous trading day.However, the Qatari individual investors’ net selling weakened noticeably to QR12.9mn against QR21.2mn on July 11.The Gulf institutions’ net profit booking decreased perceptibly to QR1.01mn compared to QR4.03mn last Thursday.The Gulf individual investors’ net selling declined significantly to QR0.75mn against QR3.11mn the previous trading day.The Arab retail investors’ net profit booking shrank markedly to QR1.71mn compared to QR2.7mn on July 11.The Arab institutions’ net selling fell notably to QR0.02mn against QR0.54mn last Thursday.Trade volumes in the main market were down 17% to 154.04mn shares, value by 28% to QR311.6mn and transactions by 30% to 11,916.In the venture market, trade volumes shot up about 30-fold to 3.57mn equities and value by about 26-fold to QR6.65mn on more than eight-fold jump in deals to 142.

The Qatar Financial Markets Authority (QFMA) has set a new 18-point control for a company's buyback of shares as part of a major step towards greater investor protection and market stability as well as enhancing corporate governance and the efficiency of the country's capital market.These new controls – which stipulate that the company shall be committed to funding buyback transactions from the balance of its voluntary reserves and realised profits and shall be prohibited from funding the buybacks in any other manner – fall within the framework of the QFMAs endeavours to develop the Qatari capital market and bolster investor confidence."Hence, the authority affirms its commitment to protecting the rights of investors and ensuring a fair and transparent investment environment," it said.The QFMA and the market shall be notified of the board of directors' resolution to buyback a maximum of 10% of the fully-paid issued shares or to purchase the shares in excess of the ownership limit stipulated in the company's Articles of Association within two days as of the date of the issuance of the board of directors' resolution approving the buyback transaction, whilst attaching the documents required by the QFMA to finalise the transaction thereof.The QFMA shall issue its decision regarding the application within 15 days as of the date of submitting it in a manner fulfilling the prescribed conditions and requirements. The lapse of this period without the issuance of a decision by the authority shall be construed as an implicit rejection thereof.The company should notify the market of the QFMA's approval immediately upon its issuance, provided that the market announces the approval as per its prescribed procedures, it said, adding the company shall disclose the QFMA approval on its website, and in at least two local daily newspapers, one of which is published in English, within two business days as of the date of notifying it of the approval.The company should complete the execution of the buyback transaction within a period not exceeding six months as of the date of the authority's approval. In case the transaction is not completed, the company shall be committed to justifying the same to the QFMA during the first business day following the end of prescribed period.The company would be prohibited from engaging in any selling transaction in the midst of a buyback process, and, likewise, it would be prohibited from making any buybacks in the midst of a selling process.The company would also be prohibited from issuing any new shares under any name before completing the selling process of the repurchased shares.The company shall be prohibited from selling the repurchased shares before the lapse of six months as of the date of the last buyback transaction and that the repurchased shares shall lose all rights and obligations legally due thereto until the company sells them.The company shall sell the repurchased shares after the lapse of the prohibition period and no later than 24 months as of the date of the last buyback. If the selling transaction is not executed within the aforementioned period, the matter shall be presented to the authority to take appropriate measures thereof.The purchasing and selling orders shall be executed through the market in accordance with the regulations and trading procedures enforced therein, and provided that the company shall be committed to collaborate with the financial services company executing the order according to specific terms.The company shall be prohibited from buying back or selling its own shares within a period of 15 days before announcing its financial statements or any material information impacting the share price.The market shall make a subsequent disclosure of the buyback and selling transactions according to the procedures in force therein and the company shall disclose the buyback or selling transactions of its own shares in the financial reports issued by it.

Efforts are on to revitalise the historic Gulf Cinema Complex, once a vibrant cultural hub frequented by locals and expats alike.In this regard, Qatar Cinema and Film Distribution Company has signed a memorandum of understanding (MoU) with the Qatar Museums (QM) to bring new life to the complex, which originally opened to the public in 1972 as Doha’s first cinema.This MoU will advance the preservation and rehabilitation efforts of the complex, striving to restore its past grandeur while integrating contemporary advancements and technology as well as feature a Cinematique Museum, the first of its kind in the country.The proposed museum will be complemented by studio spaces, a media/film library, a grand theatre, food and beverage venues, and more. The Doha Film Institute will have an essential role in realising this vision, bringing in expertise and programming to ensure the success of the project. QM will oversee the display of its unique film collections, ensuring the authentic adaptive reuse of the complex.The MoU signifies QM’s commitment to reviving the influential role of cultural institutions, and aims to revitalise the complex that was once a cornerstone of local film culture and restore its former glory.This initiative also marks a significant step towards QM’s goal of preserving Qatar’s rich cultural heritage while simultaneously adapting to the modern needs of today’s film and media industry.The revitalising initiative aims to retain the original heritage building’s essence, making it suitable for modern use without diminishing its historical value.The board of directors had presented a proposal to the QM regarding the rehabilitation of the Gulf Cinema building. The proposal includes adding real estate investments in the entertainment sector while preserving the exterior of the building, in accordance with the vision of the QM to preserve the building due to its historical, cultural, and social significance, as well as its classification within the Qatari heritage. To Page 2Qatar Cinema and Film Distribution Company operates four cinemas, three of which are in commercial complexes, in addition to one distinctive cinema in the cultural district of Katara that was opened in the third quarter of previous year. Cinema revenues account for 30% of total revenues, its chairman Mohamed Ali al-Sulaiti, said in the board of directors’ report for 2023.The company also achieved a 59% increase in operational performance for its cinemas during 2023 compared to the same period in 2022, attributed to the addition of new cinemas.The company reported 17.7% year-on-year increase in net profit to QR2.35mn in the first quarter of 2024 and earnings-per-share was QR0.037.

The US Federal Reserve chairman Jerome Powell's testimony, which suggests a cautious approach to rate cuts, had its reflection on the Qatar Stock Exchange, which on Wednesday underwent a rollercoaster ride before settling four points lower. The foreign funds were seen squaring off their position as the 20-stock Qatar Index fell 0.04% to 10,161.6 points, although it touched an intraday high of 10,180 points. The Gulf institutions were increasingly net sellers in the main market, whose year-to-date losses widened to 6.18%. About 53% of the traded constituents were in the red in the main bourse, whose capitalisation however added QR0.35bn or 0.06% to QR587.31bn on the back of microcap segments. The foreign individuals were increasingly net profit takers in the main market, which saw 4,026 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across 10 deals. The local retail investors continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of treasury bills. The domestic institutions were increasingly net buyers in the main market, which saw no trading of sovereign bonds. The Islamic index was seen declining faster than then other indices in the main bourse, whose trade turnover and volumes were on the increase. The Total Return Index was down 0.04%, the All Share Index by 0.02% and the All Islamic Index by 0.07% in the main market. The insurance sector index shed 1.38%, realty (0.61%), industrials (0.09%) and banks and financial services (0.07%); while transport gained 0.61%, telecom (0.6%) and consumer goods and services (0.29%). Major losers in the main bourse included Qatar Insurance, QIIB, Mannai Corporation, QLM, Qatar General Insurance and Reinsurance, Qatari German Medical Devices, Mesaieed Petrochemical Holding and Mazaya Qatar. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value. Nevertheless, Ahlibank Qatar, Milaha, Al Meera, Baladna, Estithmar Holding, Vodafone Qatar and Ooredoo were among the gainers in the main bourse. The foreign institutions turned net sellers to the tune of QR26.81mn compared with net buyers of QR18.56mn on July 9. The Gulf institutions’ net profit booking increased perceptibly to QR11.54mn against QR9.86mn the previous day. The foreign individual investors’ net selling expanded markedly to QR4.52mn compared to QR0.84mn on Tuesday. However, the domestic institutions’ net buying strengthened drastically to QR48.96mn against QR19.86mn on July 9. The Qatari individual investors’ net selling declined considerably to QR4.51mn compared to QR22.92mn the previous day. The Arab retail investors’ net profit booking weakened noticeably to QR1.24mn against QR3.34mn on Tuesday. The Gulf individual investors’ net selling decreased notably to QR0.35mn compared to QR1.44mn on July 9. The Arab institutions had no major net exposure for the second consecutive day. Trade volumes in the main market grew 41% to 157.58mn shares, value by 39% to QR508.45mn and transactions by 35% to 19,310. The venture market saw 477% surge in trade volumes to 1.54mn equities and 26% in value to QR2.86mn but on 16% contraction in deals to 122.