Earnings Prospects, Regional Geopolitical Optimism Lift QSE

(MENAFN- Gulf Times) earnings prospects and optimism at the geopolitical front in the Arab region helped Qatar stock exchange (QSE) saw an across the board buying, resulting in 123 points gain in the key index and about QR14bn in capitalisation this week.
The Arab retail investors turned net buyers as the 20-stock Qatar Index surged 1.19% this week which saw the listed companies report a total net profit of QR39.75bn in the first nine months (9M) of this year.
The real estate, Telecom and transport counters witnessed higher than average demand in the main market this week which saw Milaha wins QR262mn New Fiber Link project from North Oil Company.
About 77% of the traded constituents extended gains to investors in the main bourse this week which saw IRU (International Road Transport Union), which represents voice of more than 3.5mn companies operating mobility and logistics services in over 100 countries, say Qatar will display the strongest growth in road freight in the Gulf region at 35% between 2023 and 2030.
The foreign institutions' weakened net selling had its influence in the main market this week which saw QIIB report net profit of QR1.04bn in 9M-2024.
The Gulf funds' lower net profit booking also had its say in the main bourse this week which saw Industries Qatar's 9M-2024 net profit at QR3.5bn.
The Arab institutions' weakened bearish grip had its impact in the main market this week, which saw Gulf International Services report net profit of QR573mn in January-September 2024.
However, the local retail investors were increasingly net sellers in the main bourse this week which saw a total of 0.35mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.77mn trade across 40 deals.
The foreign individuals were seen into lesser net buying in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.13mn change hands across 13 transactions.
The domestic institutions' weakened bullish grip held its sway on the main bourse this week which saw the realty and industrials sectors together constitute more than 60% of the total trade volumes.
The Islamic index was seen outperforming the other indices in the main market this week, which saw no trading of sovereign bonds.
Market capitalisation added QR13.64bn or 2.23% to QR625.21bn on the back of large and midcap segments this week, which saw no trading of treasury bills.
Trade turnover and volumes were on the increase in the main market this week, which saw a Qatar Insurance report net profit of QR525mn in 9M-2024.
The Total Return Index gained 1.19%, the All Share Index by 1.31% and the All Islamic Index by 1.39% this week, which saw Hamad Port witness a record breaking month in October 2024 as its cargo handling and RORO hit all-time high.
The real estate sector index shot up 5.37%, telecom (1.96%), transport (1.54%), banks and financial services (1.18%), consumer goods and services (1.16%), industrials (0.84%) and insurance (0.26%) this week.
Major gainers in the main bourse included Ezdan, Alijarah Holding, Ooredoo, Vodafone Qatar, Salam International Investment, Aamal Company, Medicare Group, Commercial Bank, Doha Bank, Lesha Bank, Baladna, Qatari Investors Group, Qatar Electricity and Water, Aamal Company, Gulf International Services, Estithmar Holding, Al Khaleej Takaful, Mazaya Qatar and Barwa. In the venture market, Al Mahar Holding saw its shares appreciate in value this week.
Nevertheless, Qatar General Insurance and Reinsurance, Inma Holding, Qatar German Medical Devices, Qatar National Cement and Al Faleh Educational Holding were among the losers in the market. In the junior bourse, Techno Q saw its shares depreciate in value this week.
The Arab individual investors were net buyers to the tune of QR13.24mn against net sellers of QR15.34mn the week ended October 24.
The foreign institutions' net selling declined considerably to QR74.73mn compared to QR121.54mn a week ago.
The Gulf institutions' net profit booking shrank markedly to QR15.83mn against QR38.75mn the previous week.
The Arab institutions' net selling weakened marginally to QR0.11mn compared to QR0.57mn the week ended October 24.
However, the Qatari individuals' net profit booking grew marginally to QR61.59mn against QR60.39mn a week ago.
The Gulf retail investors were net sellers to the extent of QR2.33mn compared with net buyers of QR1.58mn the previous week.
The domestic funds' net buying decreased substantially to QR138.52mn against QR207.66mn the week ended October 24.
The foreign individuals' net buying shrank perceptibly to QR2.83mn compared to QR27.34mn a week ago.
The main market witnessed an 80% surge in trade volumes to 1.15bn shares, 49% in value to QR2.45bn and 29% in deals to 76,922 this week.
In the venture market, trade volumes soared 56% to 12.21mn equities, value by 56% QR29.44mn and transactions by 65% to 694.

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