Regional Optimism Lifts QSE Sentiments as Index Gains 23 Points

Optimism in the region in view of a ceasefire deal in Lebanon helped Qatar Stock Exchange (QSE) close this week in the positive with its key index gaining as much as 23 points, even as capitalisation was on the decline.

The domestic institutions’ increased net buying interests lifted the 20-stock Qatar Index 0.22% this week which saw Al Mahhar Holding move the Qatar Financial Market Authority to shift its shares from the junior bourse to the main market.

The telecom, industrials and banking counters witnessed higher than average demand this week which saw Masraf Al Rayan undergo rebranding as AlRayan Bank.

The local retail investors were increasingly bullish this week which saw Qatar Electricity and Water sign a 25-year purchase agreement with Kahramaa for Facility E project.

However, the foreign institutions were seen increasingly net profit takers in the main market this week which saw Gulf Warehousing enter into pact with Saudi Offshore Fabrication Company for a Grade A. logistics facility in Ras Al Khair Industrial zone in Saudi Arabia.

The Gulf funds were also increasingly bearish in the main bourse this week which saw Aamal Company begin negotiations with its partner Teleperformance for its stake in ECCO Gulf.

The Gulf individual investors were increasingly net sellers in the main market this week which saw a Kamco Invest report that found Qatar’s banks report the fastest net interest income growth in third quarter of 2024.

The Arab retail investors were also seen increasingly net profit takers in the main bourse this week which saw Milaha team up with Google Cloud for enhancing data and artificial intelligence capabilities.

The foreign individuals were seen net sellers in the main bourse this week which saw a total of 1,720 AlRayan Bank-sponsored exchange-traded fund QATR worth QR3,823 trade across three deals.

The Arab funds had no major net exposure in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.1mn change hands across eight transactions.

The Islamic index was seen gaining slower than the main barometer in the main market this week which saw the banks and industrials sectors together constitute more than 63% of the total trade volumes.

Market capitalisation however was down QR0.16bn or 0.03% to QR617.16bn on the back of microcap segments this week, which saw no trading of treasury bills.

Trade turnover and volumes were on the increase in the main market, whereas it fell in the junior bourse this week, which saw no trading of sovereign bonds.

The Total Return Index rose 0.22%, the All Share Index by 0.12% and the All Islamic Index by 0.15% this week.

The telecom sector index gained 1.26%, industrials (0.46%) and banks and financial services (0.38%); while real estate tanked 1.87%, transport (1.38%), consumer goods and services (0.63%) and insurance (0.46%) this week.

Major gainers in the main bourse included Beema, Qatari Investors Group, AlRayan Bank, Ooredoo, Qatar General Insurance and Reinsurance, Commercial Bank, Qatar Islamic Bank, Doha Insurance and Qatar Islamic Insurance. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week.

Nevertheless, as much as 67% of the traded constituents were in the red with major losers being Ezdan, Widam Food, Dlala, Dukhan Bank, Barwa, Qatar German Medical Devices, Salam International Investment, Mannai Corporation and Milaha. In the junior bourse, Techno Q saw its shares depreciate in value this week.

The domestic funds’ net buying rose substantially to QR185.63mn compared to QR80.11mn the week ended November 21.

The local retail investors’ net buying increased significantly to QR32.88mn against QR11.24mn the previous week.

However, the foreign institutions’ net profit booking expanded drastically to QR134.58mn compared to QR73.29mn a week ago.

The Gulf institutions’ net selling shot up considerably to QR67.17mn against QR12.06mn the week ended November 21.

The Gulf individuals’ net profit booking grew noticeably to QR12.62mn compared to QR7.2mn the previous week.

The Arab individual investors’ net selling increased perceptibly to QR4.02mn against QR3.53mn a week ago.

The foreign individuals turned net sellers to the tune of QR0.13mn compared with net buyers of QR4.72mn the week ended November 21.

The Arab institutions had no major net exposure against net profit takers to the extent of QR0.02mn the previous week.

The main market witnessed an 8% jump in trade volumes to 597.44mn shares, 41% in value to QR2.03bn and 6% in deals to 61,189 this week.

In the venture market, trade volumes plummeted 83% to 0.7mn equities, value by 84% to QR1.84mn and transactions by 61% to 132.