By Santhosh V Perumal/Business Reporter

Qatar’s reiteration on continued spending and lessened geopolitical tensions on expected Iran nuclear deal augured well for the domestic bourse, which crossed the 11,850 mark and added QR25bn in capitalisation during the week.
An across the board buying — particularly in the telecom, transport and banking counters — helped the 20-stock Qatar Index gain as much as 4.46% during the week that otherwise saw dampened sentiments across the other Gulf stock exchanges.
Foreign institutions continued to be net buyers but with lesser intensity during the week that saw Aamal Company announce its foray into Greenfield maritime transportation services as part of diversifying the revenue stream.
Large cap equities witnessed higher-than-average buying interests during the week that saw global credit rating agency Moody’s say Barwa Bank has found its niche in the country’s growing Islamic banking sector, benefiting from Qatar’s strong economy and favourable operating environment.
Lower selling pressure from local retail investors and institutions had also its role in supporting the bullish momentum as the 20-stock Qatar Index added 506 points during the week that saw Doha Bank partner with India’s Anil Ambani-led Reliance Group.
However, increased net profit booking was seen among non-Qatari individual investors in the market during the week that saw Nakilat shareholders approve a higher up to 49% foreign ownership limit.
The 20-stock Total Return Index gained 4.46%, All Share Index (comprising wider constituents) by 3.98% and Al Rayan Islamic Index by 4.23% during the week that witnessed QSE chief executive Rashid bin Ali al-Mansoori dispel fears among ‘panic-stricken’ investors as he said the volatility in global stock markets triggered by China’s devaluation of its currency will not cut growth in Qatar’s financial market.
Telecom stocks appreciated 7.56%, transport (6.15%), banks and financial services (4.77%), industrials (3.98%), realty (2.28%), insurance (1.4%) and consumer goods (1.3%) during the week that saw the real estate, banking and industrials sectors constitute about 74% of the total trading volume.
About 77% of the stocks extended gains as of the 43 stocks, 33 gained, while only 10 declined during the week that Barwa dominate the trading in terms of volume and value.
Eight of the 12 banks and financial services; seven of the eight consumer goods; six of the nine industrials; all of the four realty, the three transport and the two telecom; and three of the five insurance sector equities close higher during the week.
Major gainers included Ooredoo, Gulf Warehousing, Qatar Islamic Bank, Nakilat and Qatari Investors Group; whereas Doha Insurance, Alijarah Holding, Mannai Corporation and Qatar National Cement were seen bucking the trend during the week.
Market capitalisation expanded 4.15% to QR623.78bn with large, mid, small and micro cap equities gaining 5.29%, 3.05%, 2.53% and 2.14% respectively during the week.
Large, micro and mid cap equities are, however, down 9.86%, 5.06% and 1.26% respectively year-to-date; whereas small caps gained 6.14%.
Foreign institutions’ net buying amounted to QR308.82mn against QR384.86mn the previous week.
Domestic institutions’ net selling stood at QR107.66mn compared to QR211.73mn the week ended September 3.
Local retail investors’ net profit booking was QR122.61mn against QR152.54mn the previous week.
Non-Qatari retail investors’ net selling amounted to QR78.35mn compared to QR20.35mn the week ended September 3.
Total trade volume fell 19% to 46.57mn shares, value by 15% to QR1.99bn and transactions by 5% to 27,037 during the week.
There was 40% shrinkage in the real estate sector’s trade volume to 16.03mn equities, 38% in value to QR385.98mn and 23% in deals to 5,186.
The banks and financial services sector’s trade volume plunged 31% to 10.87mn stocks, value by 24% to QR753.73mn and transactions by 6% to 7,028.
The telecom sector saw 14% decline in trade volume to 4.31mn shares, 21% in value to QR108.53mn and 42% in deals to 2,901.
However, the transport sector’s trade volume more than doubled to 4.22mn equities and value also more than doubled to QR139.64mn on 92% surge in transactions to 1,835.
The market witnessed 44% expansion in the insurance sector’s trade volume to 1.02mn stocks, even as there was 11% fall in value to QR55.94mn and 16% in deals to 438.
The industrials sector’s trade volume soared 31% to 7.52mn shares, value by 14% to QR460.15mn and transactions by 29% to 8,069.
There was 26% increased in the consumer goods sector’s trade volume to 2.61mn equities, 38% in value to QR89.72mn and 9% in deals to 1,580.
In the debt market, there was no trading of treasury bills and government bonds during the week.