By Santhosh V. Perumal/Business Reporter

The Qatar Stock Exchange appeared resilient to external shocks of weak oil price as it gained 1.72% or more than 200 points during the week.
Strong buying interests were visible, especially in the insurance, industrial and banking counters during the week that saw Bank of America Merrill Lynch (BofAML) view that Qatar’s infrastructure pipeline appears most robust; even as prolonged weakened oil price may precipitate the downsizing and consolidation of capital expenditure in the Gulf countries.
Foreign institutions were seen instrumental in instilling the bullish momentum to the bourse during the week, which witnessed BofAML aver that every $10 per barrel drop in oil prices shaves 3.4% and 4.2% of gross domestic product off fiscal and current account balances, respectively, in the Gulf Cooperation Council region.
Local retail investors continued to be bullish but with lesser intensity during the week that saw weak oil prices have had its debilitating effect on Qatar with its trade surplus shrinking considerably in December in view of sharp decline in exports coupled with robust imports.
Crude oil prices have corrected by more than 40% from their highs in 2014 owing to excess supply, driven by higher US shale oil output and a fall in demand because of slowdown in many major economies.
Large and mid cap stocks were seen the most sought after in the market, where real estate, banks, industrials and telecom stocks dominated the trading ring with them constituting more than 90% of the total trade volume.
Insurance stocks appreciate the most at 3.12%, industrials (2.24%), banks and financial services (2.02%), transport (1.44%), consumer goods (0.35%) and telecom (0.17%); whereas realty fell 0.21% during the week that witnessed Barwa Real Estate inked pact with Arab Engineering Bureau, which will provide consultancy and design services to the expansion project of Barwa Village on Al Wakra Road.
The 20-stock Total Return Index rose 1.72%, All Share Index (comprising wider constituents) by 1.58% and Al Rayan Islamic Index by 0.84% during the week that featured QSE asked the country's corporate sector to more embrace technology through its social media and other avenues to enhance information pass through as part of concerted efforts to instill investor confidence in the financial market.
Of the 43 stocks, 25 gained, while 17 declined and one was unchanged. Six of the 12 banks and financial services; six of the nine industrials; five of the eight consumer goods; three of the five insurers; two each of the two telecom and the three transport; and one of the four real estate stocks closed higher during the week.
Major gainers included QNB, Industries Qatar, Aamal Company, Gulf International Services, Qatar Insurance, Commercial Bank, Doha Bank, Salam International Investment, Milaha and Gulf Warehousing during the week.
However, International Islamic, Alijarah Holding, Dlala, Islamic Holding Group, Qatar Electricity and Water, Mannai Corporation, Doha Insurance, Barwa and Mazaya Qatar bucked the trend.
Market capitalisation appended 1.73% or more than QR10bn to QR648.79bn.
Foreign institutions turned net buyers to the tune of QR85.09mn against net sellers of QR11.68mn the previous week.
Local retail investors’ net buying plummeted to QR22.08mn compared to QR122.62mn the week ended January 22.
Domestic institutions’ net profit booking fell to QR97.65mn against QR131.8mn the previous week.
Non-Qatari retail investors turned net sellers to the extent of QR9.32mn compared with net buyers of QR21.13mn the week ended January 22.
A total of 43.69mn shares valued at QR2.03bn changed hands across 27,118 transactions.
The real estate sector saw a total of 14.66mn equities worth QR342.92mn change hands across 4,993 deals.
The banks and financial sector witnessed as many as 12.53mn stocks valued at QR888.18mn change hands across 10,023 transactions.
As many as 6.65mn industrials stocks valued at QR447.56mn trade across 6,145 deals and the telecom sector saw 5.51mn equities worth QR125.31mn trade in 2,851 transactions.
The market saw a total of 1.85mn consumer goods stocks worth QR78.23mn change hands across 1,356 deals.
The transport segment recorded 1.25mn shares valued at QR49.15mn trade in 870 transactions.
The insurance saw a total of 1.24mn equities worth QR94.53mn trade across 880 deals.
In the debt market, there was no trading of government bonds and treasury bills during the week.