By Santhosh V Perumal/Business Reporter

Qatar Exchange, whose key index is above 10,000 points since November 11, saw domestic institutions pump in QR98mn (net) to extend an overall bullish momentum in the week.
The QE 20-stock Qatar Index (based on price data) gained about 1%, making it the second best performer among the Gulf bourses in the week that witnessed Dubai rise 1.89%, Bahrain (0.57%) and Abu Dhabi (0.47%), while Kuwait fell 0.71%, Muscat (0.68%) and Saudi Arabia (0.15%).
The index that tracks Shariah-principled stocks distinctly outperformed other key barometers in the week that saw Commercial Bank receive nod from shareholders for its hybrid capital launch to raise as much as QR2bn.
The 20-stock Total Return Index rose about 1%, All Share Index (comprising wider constituents) by 0.68% and Al Rayan Islamic Index by 1.71% in the week that saw Doha Bank also announce its plans to launch Tier I note through which it is aiming to garner as much as QR2bn.
Transport and real estate stocks were seen to outperform the major indices in the week, which saw global banking giant HSBC view that Qatar’s recent upgrade to ‘emerging’ market from ‘frontier’ status will capture the attention of institutional investors in a big way and the 2022 World Cup will trigger $70bn of infrastructure spend.
About 60% of the stocks appreciated and about QR2bn in capitalisation was added in the week, which witnessed Ahlibank Qatar sign a line of credit with the UAE-based Arab Trade Financing Programme as part of efforts to offer trade finance and foster more intra-Arab trade.
Local retail investors’ selling interests reduced, thereby helping the rally in the week, which saw QNB ink a pact with Qatar Building Company, an exclusive agent for Hyundai.
QE has reported 24.12% gains year-to-date (YTD), which, however, was lower than Dubai’s 81.56% surge, Abu Dhabi (46.33%) and Kuwait (31.2%). Saudi Arabia rose 22.41%, Muscat (16.76%) and Bahrain (13.41%).
The overall market liquidity -- which was largely skewed towards real estate, telecom and banking stocks – fell mainly on faster slippage in volumes in the industrials, transport and realty counters in the week.
The sector prospects in the QE was downcast on weak outlook, especially in the industrials, consumer goods and real estate equities in the week that saw Lagoon Capital Partners, a private equity and advisory firm in which Qatar Insurance Company is a shareholder, seal a partnership with HarbourVest for developing the Middle East and North Africa region’s secondary private equity market. Of the 42 stocks, 25 advanced; while 14 declined and three were unchanged in the week, which featured Ernst and Young forecast that Islamic banking assets in the Gulf Cooperation Council region to exceed $515bn by the end of this year.
Among the major gainers were Industries Qatar, Nakilat, Milaha, Gulf International Services, Qatar Islamic Bank, International Islamic, Masraf Al Rayan, al khaliji, Barwa, Vodafone Qatar and Qatari Investors Group.
However, QNB, Commercial Bank, Doha Bank, United Development Company, Ezdan and Ooredoo bucked the trend in the week.
The transport equities appreciated 3.14%, industrials (1.03%), insurance (0.92%), realty (0.68%) and banks and financial services (0.34%); while telecom and consumer goods fell 0.2% and 0.14% respectively.
Seven of the eight industrials, six of the 12 banks and financial services,  four of the five insurers, three each of the eight consumer goods and the three transport and one each of the four real estate and the two telecom stocks closed higher in the week.
Market capitalisation expanded 0.33% to QR555.03bn. Mid cap equities gained more than 1%, micro caps by about 1% and small and large caps by less than 0.5% in the week.
Small, mid and large caps have gained YTD 27.99%, 26.82% and 20.12% respectively; whereas micro caps fell 3.46%.
Domestic institutions were net buyers to the tune of QR98.25mn against net sellers of QR132.67mn the previous week.
However, foreign institutions were net buyers to the extent of QR100.08mn compared with net sellers of QR194.98mn the week ended November 21.
Qatari individual investors’ net buying stood at QR31.14mn against net selling of QR85.16mn the pervious week.
Non-Qatari retail investors were profit takers as they were net sellers to the extent of QR29.77mn compared with net buyers of QR22.59mn the week ended November 21.
Total trading volume fell 2% to 80.42mn shares with the realty sector accounting for 32.32% of the total, telecom (23.64%), banks and financial services (19.55%), consumer goods (9.54%), industrials (7.63%), transport (6.6%) and insurance (0.72%).
The industrials sector’s trading volume plummeted 48% to 6.14mn shares, real estate by 17% to 25.99mn and transport by 14% to 5.31mn; whereas telecom surged 59% to 19.01mn, insurance by 41% to 0.58mn, consumer goods by 25% to 7.67mn and banks and financial services by 11% to 15.72mn.
Total stocks trading value shrank 12% to QR2.29bn with the banks and financial services sector accounting for 28.3% of the total, followed by realty (24.15%), industrials (15.79%), telecom (13.37%), consumer goods (10.22%), transport (6.76%) and insurance (1.41%).
The industrials sector’s stocks trading value plunged 42% to QR361.56mn, consumer goods by 25% to QR234.09mn and real estate by 24% to QR553.17mn; while telecom more than doubled to QR306.15mn, insurance soared 49% to QR32.22mn, transport by 9% to QR154.83mn and banks and financial services by 6% to QR648.04mn.
Barwa led the trading value with its stocks accounting for 11.69% of the total, followed by Vodafone Qatar (8.77%) and Qatari Investors Group (7.94%).
Total market transactions were down 9% to 31,386 with the banks and financial sector’s share at 26.39%, followed by realty (21.3%), industrials (16.35%), consumer goods (14.46%), telecom (12.46%), transport (7.36%) and insurance (1.68%).
The industrials sector’s deals tanked 33% to 5,205; real estate by 25% to 6,781; transport by 15% to 2,344 and consumer goods by 3% to 4,604; but those of telecom expanded 65% to 3,968; insurance by 15% to 534 and banks and financial services by 6% to 8,400.
In the debt market, there was no trading of bonds and treasury bills during the week.