By Santhosh V. Perumal/Business Reporter

Mid cap equities lifted the Qatar Stock Exchange (QSE) during the week ended Thursday, after it was drastically hit by reports on fiscal austerity measures in the previous week.

Buying interests of foreign institutions and local retail investors were largely instrumental in instilling the positive momentum during the week which saw global index compiler MSCI include Nakilat in its Qatar Index, effective from the close of November 30.

Telecom, transport, consumer goods and realty counters witnessed higher than average buying interests during the week which saw Bank of America Merrill Lynch view that Qatar remains most resilient Gulf economy as its macroeconomic data outperform peers.

Investors’ interests were seen intense in the Shariah-principled stocks during the week which saw the banking, transport and real estate sectors constitute more than 77% of the overall trading volume.

The 20-stock Qatar Index gained 0.28% during the week which witnessed Ooredoo Group enter into pact with Ericsson for the radio, core and transmission solutions, as well as related implementation and integration services as part of its efforts to improve network performance.

Abu Dhabi and Dubai gained 1.43% and 0.25% respectively, while Bahrain fell 1.19%, Muscat (0.9%), Kuwait (0.71%) and Saudi Arabia (0.7%) during the week which also saw Ooredoo Group and Alcatel-Lucent enter into a five-year agreement for ultra-broadband IP transport networks, benefiting its operations across the Middle East, Africa and Asia Pacific and Southeast Asia.

The Gulf bourses were down year-to-date with Saudi Arabia falling 15.59%, Bahrain (14.54%), Dubai (13.27%), Kuwait (12.4%), QSE (11.6%), Muscat (8.63%) and Abu Dhabi (5.94%).

The 20-stock Total Return Index had risen 0.28%, All Share Index (comprising wider constituents) by 0.1% and Al Rayan Islamic Index by 0.51% during the week which saw Ooredoo disclose that it will enhance and expand its portfolio of cyber security services to meet the growing needs of Qatar’s banking sector.

Telecom stocks soared 3.39%, transport (1.44%), consumer goods (1%), realty (0.82%) and industrials (0.33%); while insurance fell 1.99% and banks and financial services (0.71%) during the week.

Of the 43 stocks, as many as 22 gained, while 18 fell and three were not traded during the week which saw Masraf Al Rayan, Nakilat and Commercial Bank dominate the trading ring in terms of volume and value.

Five each of the eight consumer goods and the nine industrials, four of the 12 banks and financial services, three of the four realty, two each of the two telecom and the three transport, and one of the five insurers closed the week higher.

Major gainers include Ooredoo, Barwa, Nakilat, Aamal Company, Industries Qatar, QIIB, Vodafone Qatar and Milaha; even as QNB, Commercial Bank, Dlala, Alijarah Holding, Mazaya Qatar, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance and Qatar General and Reinsurance  bucked the trend during the week.

Market capitalisation was up 0.03% or QR18mn to QR570.54bn during the week mainly on 0.49% jump in mid cap equities; even as small, large and micro caps fell 0.69%, 0.23% and 0.04% respectively.

Large, micro, mid and small cap stocks have however fallen 18.63%, 10.43%, 4.88% and 2.29% respectively year-to-date.

Foreign institutions turned net buyers to the tune of QR154.36mn compared with net sellers of QR186.35mn the previous week.

Local retail investors’ net buying strengthened to QR69.29mn against QR55.45mn the week ended November 12.

However, non-Qatari retail investors’ net profit booking substantially increased to QR351.8mn compared to QR6.95mn the previous week.

Domestic institutions’ net buying weakened to QR128.15mn against QR137.85mn the week ended November 12.

Total trade volume rose 15% to 37.25mn shares and value by 10% to QR1.53bn, while transactions fell 21% to 15,482 during the week.

The transport sector’s trade volume more than doubled to 6.73mn equities and value also more than doubled to QR181.03mn on 52% jump in deals to 2,276.

The banks and financial services sector’s trade volume more than doubled to 16.43mn stocks and value soared 66% to QR815.97mn; whereas transactions shrank 18% to 4,548.

However, the telecom sector saw 54% plunge in trade volume to 3.2mn shares, 35% in value to QR75.89mn and 43% in deals to 1,668.

The consumer goods sector’s trade volume plummeted 42% to 1.25mn equities, value by 53% to QR46.89mn and transactions by 44% to 862.

There was 37% shrinkage in the industrials sector’s trade volume to 3.51mn stocks, 36% in value to QR256.49mn and 28% in deals to 3,678.

The insurance sector’s trade volume tanked 24% to 0.34mn shares, value by 11% to QR28.16mn and transactions by 22% to 359.

The market witnessed 15% decline in the real estate sector’s trade volume to 5.79mn equities, 24% in value to QR128.46mn and 20% in deals to 2,091.

In the debt market, there was no trading of treasury bills and government bonds during the week.