Qatar Stock Exchange (QSE), which witnessed weak sentiments during the first three days of the week, later on gained on renewed hopes of production freeze, which sent global oil prices above $41 a barrel.

A substantial increase in foreign institutions’ buying interests rather drove up QSE during the week which saw Qatar’s Energy Minister and the current president of Organisation of the Petroleum Exporting Countries (Opec) HE Dr Mohamed bin Saleh al-Sada confirm a meeting of oil producers (both within Opec and outside it) on April 17 in Doha to follow up on earlier draft proposal by Saudi Arabia, Qatar, Russia and Venezuela on freeze at the peak January production levels.

The bourse had opened the week weak and then kept declining until Tuesday when it touched a low of 10,200 points on feeble sentiments in the global oil markets owing to indecisiveness of Iran in the proposed production freeze.

However, there were substantial gains in the last two days on al-Sada’s confirmation of April 17 meeting of Opec and non-Opec. Thus, the index settled 40 points higher at 10,426 points.

Buying was seen more pronounced in the real estate, telecom, insurance and consumer goods during the week which saw Finance Minister HE Ali Sheriff al-Emadi say that Qatar's insurance industry, which is the cornerstone for the country's financial sector, has the potential to reach $12bn in premiums.

Islamic stocks witnessed higher demand in the QSE during the week which saw Milaha disclose that it has put in a bid to manage the new Hamad Port as part of expansion strategy.

However, domestic institutions were increasingly into profit booking during the week which featured a report from Standard and Poor’s, a global credit rating agency, that Qatar’s insurance sector is not expected to be affected by economic headwinds on lower hydrocarbon prices as gross premiums are set to grow 10% in 2016-17.

Qatari and non-Qatari individual investors were seen bearish during the week which saw another credit rating agency Moody’s view that Qatar insurance market is expected to maintain its growth momentum, with several factors helping it to weather the impact from a depressed oil price.

The 20-stock Qatar Index was up 0.38% during the week which saw Aamal for Maritime Transportation Services (AMTS), a subsidiary of Aamal Company, has acquired a new vessel which will expand the AMTS fleet and enhance its operational capacity.

The 20-stock Total Return Index gained 1.07%, All Share Index (comprising wider constituents) by 1.1% and Al Rayan Islamic Index by 1.45% during the week which saw trading turnover and volumes on the increase.

Real estate stocks shot up 4.27%, telecom (2.98%), insurance (1.78%), consumer goods (0.76%) and banks and financial services (0.38%); while transport and industrials fell 0.38% and 0.2% respectively during the week which saw banking, realty, industrials and consumer goods stocks constitute about 84% of the total trading volumes.

Market capitalisation expanded 0.53% or about QR3bn to QR548.09bn during the week which saw Faithful+Gould, a subsidiary of Atkins group, finds that Qatar will remain “relatively strong” over the next two years on continued government spending on infrastructure and tourism projects in addition to fiscal buffers and sizeable assets.

Of the 43 stocks, as many as 25 advanced, while 17 fell and one was not traded during the week which saw Al Masah Capital find that Qatar was among the top drivers in the $106bn worth mergers and acquisitions in the Middle East and North Africa (Mena) during 2010-15.

Seven of the 12 banks and financial services; six of the eight consumer goods; four each of the nine industrials and the five insurers; and two each of the four realty and the three transport stocks closed higher during the week.

About 60% of the stocks extended gains with major movers Mazaya Qatar, Ezdan, Vodafone Qatar, Al Khaleej Takaful, Alijarah Holding, Islamic Holding Group, Dlala, QNB, Aamal Company, Qatari German Company for Medical Devices and Ooredoo; even as Nakilat, Barwa, Industries Qatar, Doha Bank, Mesaieed Petrochemical Holding, Milaha and Qatar General and Reinsurance bucked the trend.

Foreign institutions’ net buying increased perceptibly to QR284.84mn compared to QR59.83mn the previous week.

However, domestic institutions’ net profit booking shot up considerably to QR249.5mn against QR78.88mn the week ended March 10.

Local retail investors turned net sellers to the tune of QR19.68mn compared with net buyers of QR13.91mn the previous week.

Non-Qatari retail investors were also net profit takers to the extent of QR15.45mn against net buyers of QR4.92mn the week ended March 10.

Total trade volume rose 43% to 74.8mn shares, value by 25% to QR2.12bn and transactions by 23% to 29,748 during the week.

The banks and financial services sector saw 93% surge in trade volume to 24.97mn equities, 53% in value to QR869.09mn and 26% in deals to 9,691.

The transport sector’s trade volume soared 63% to 3.06mn stocks, value by 59% to QR91.13mn and transactions by 71% to 1,119.

There was 56% expansion in the consumer goods sector’s trade volume to 10.99mn shares, 61% in value to QR240.56mn and 41% in deals to 3,717.

The telecom sector’s trade volume increased 51% to 8.73mn equities, value by 38% to QR161.99mn and transactions by 27% to 3,632.

The real estate sector reported 31% jump in trade volume to 15.49mn stocks, 22% in value to QR331.95mn and 44% in deals to 5,535.

The insurance sector’s trade volume shot up 24% to 0.51mn shares, value by 36% to QR35.26mn and transactions by 5% to 511.

However, the market witnessed 11% decline in the industrials sector’s trade volume to 11.05mn equities, 24% in value to QR386.18mn and 7% in deals to 5,543.

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