The Qatar Stock Exchange (QSE) ended the week on a positive note, with the benchmark Qatar Index rising 0.29%. Softer US core inflation data and the announcement of a Gaza ceasefire contributed to the market’s gains, supported by increased domestic institutional buying.
Transport, telecom, and industrials sectors saw strong demand during the week. Qatar National Bank (QNB) reported a 2024 net profit of QR16.72bn, while Qatar Islamic Bank posted a net profit of QR4.61bn.
Foreign institutions slowed their profit-booking activity, further boosting the main market, where Aamal Company announced plans to establish a subsidiary in Saudi Arabia. Arab institutions turned net buyers, albeit at a reduced scale, trading 0.19mn units of AlRayan Bank-sponsored QATR exchange-traded fund worth QR0.43mn across 51 deals. Gulf institutions also maintained net buying positions, albeit with lower intensity, trading 0.01mn units of Doha Bank-sponsored QETF valued at QR0.11mn over 12 transactions.
Foreign retail investors remained bullish but less vigorous. Meanwhile, AlRayan Bank, in collaboration with ProgressSoft, implemented Qatar Central Bank’s real-time gross settlement system. Despite gains in other indices, the Islamic index slipped 0.18%, and overall market capitalization declined by QR0.74bn (0.12%) to QR613.07bn, primarily due to losses in microcap stocks.
Trade volumes in the main market increased by 4% to 670.83mn shares, with trade value rising 2% to QR1.89bn. Deals also grew by 4% to 72,381. In the junior bourse, trade volumes rose 2% to 1.83mn equities, and value increased by 2% to QR4.64mn, though transactions dropped by 25%.
The Total Return Index advanced 0.29%, while the All Share Index edged up 0.07%. Moody’s credit rating agency expressed confidence in Qatar’s economic growth, citing petrochemical industry expansion and LNG-related construction as key drivers.
The transport sector led the weekly gains, surging 3.37%, followed by telecom (1.07%) and industrials (0.52%). However, real estate fell 1.33%, while consumer goods, insurance, and banks and financial services also posted declines. Industrials, banking, and real estate together accounted for 71% of total trade volumes.
Top gainers included Nakilat, Al Faleh Educational Holding, Aamal Company, and Ooredoo. On the junior market, Al Mahhar Holding and Techno Q saw their shares appreciate. However, 62% of traded constituents recorded losses, with major decliners including Qatar General Insurance and Reinsurance, Ezdan, and Masraf Al Rayan.
Domestic institutions increased their net buying to QR92.04mn, while Arab funds shifted to net buyers with QR0.68mn. Foreign institutions reduced net selling to QR82.29mn. Conversely, Qatari individuals’ net selling strengthened to QR16.96mn, and Gulf institutions’ net buying dropped sharply to QR13.42mn.
The week ended with optimism as global and regional factors played a pivotal role in shaping investor sentiment.
